The owner of the former Lone Star Brewery complex has a buyer lined up, but it’s unclear whether a deal will be completed by a May 1 deadline.
An affiliate of GrayStreet Partners, a San Antonio development firm, wants to purchase the roughly 32-acre property for $17.25 million from Lone Star Brewery Development Inc.
Lone Star filed for bankruptcy protection in January, stopping a foreclosure auction of the complex at 500 and 600 Lone Star Blvd. It is trying to sell the property for at least $13.5 million.
JLL, a commercial real estate firm, is marketing the site and received several preliminary offers ranging between $6 million and $20 million, court documents note.