Posted Jan 25, 2010, 3:54 PM
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Join Date: May 2008
Location: The Triangle
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info from bizjournals.com and COPT.com
Quote:
Transwestern recruited to market major business park
The Central Texas office of Transwestern has been hired to market a large-scale business park in the works on the city’s far West Side.
The project, known as Sentry Gateway, spans 126 acres of land along Military Drive and Potranco Road. The developer/owner is Maryland-based Corporate Office Properties Trust (COPT).
The long-term plans for the project call for approximately 900,000 square feet of office space, to be spread out over nine buildings, says Larry Mendez, senior vice president for Transwestern’s Central Texas office, which is headquartered in San Antonio. Mendez, Amber Austin and Kendall Clement will be heading up the leasing assignment on behalf of COPT. Austin is a vice president with Transwestern. Clement is a commercial property specialist.
First up for the team (see above photo): A 90,000-square-foot, three-story building that COPT plans to turn dirt on within the next 30 days. The property is set to come online around September or October of this year.
“We are already gearing up our pre-leasing efforts,” says Austin.
And depending on the reception to this building, COPT has another structure — also of roughly 90,000 square feet — that could get under way during the first half of 2011, Clement adds. At build-out, Sentry Gateway could accommodate as many as 4,000 employees. The cost to COPT to bring this campus to fruition, conservatively speaking, is between $350 million and $400 million, Mendez says.
COPT officials declined to comment for this story, and deferred all questions about Sentry Gateway to Transwestern.
Lay out
Not included in Transwestern’s assignment are some structures that are also owned by COPT. Those include an existing two-building, 475,000-square-foot complex that will serve as the local headquarters for the Texas Cryptology Center, which, though shrouded in secrecy, is presumed to be an operation serving the Department of Defense, according to industry sources.
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Ripple effect
If history is any indicator of what’s to come from COPT’s investment in San Antonio, the Sentry Gateway could be the catalyst for bringing a slate of new high-paying jobs to the Alamo City.
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“COPT doesn’t just build for the hell of it,” says Bill Mock, a retired Air Force colonel and the executive vice president of the Greater San Antonio Chamber of Commerce. “They build facilities for federal agencies.”
“What history has shown is that complementary businesses have always congregated around the anchor tenant,” says Mendez of COPT’s business parks. “And that tenant has shown that it will attract a large number of government contractors that need to be adjacent to them.”
It is very likely that many of these contractors would be new to San Antonio. Other firms, while having a presence here, would be adding personnel who can meet the specialized needs of Sentry Gateway’s anchor tenant.
“(Sentry Gateway) will create jobs — pure and simple,” Mendez says.
Read entire story...
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I don't like the low-density layout of this new office park. However, I do like the location of it and the fact that it will take up a good chunk of undeveloped land and will serve as good infill. I like that it is on an area of 410 that doesn't have too much office space located nearby. It will offer high-paying office jobs to possible new residents that might consider living DT and get a nice reverse-commute.
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Last edited by miaht82; Jan 25, 2010 at 4:28 PM.
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I see a lot of potential there, however, I can see some of the homes next to it complaining about anything tall going up there.
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