July 19, 2019
AEW Capital Management LP made its first investment in San Antonio, acquiring the 235,000-square-foot Lanark Distribution Center in the metro’s northeast quadrant. The new owner bought the two-building asset at 610 Lanark Dr. from TA Realty, which had owned the property since 2014. Both buyer and seller are headquartered in Boston.
The center consists of a 147,376-square-foot building (built in 1975), which is 26% leased, and a 90%-leased, 88,044-square-foot facility (which opened in 1982). Stream Realty Partners has the leasing assignment.
AEW owns 24 properties in Texas, including the most recent acquisition. The transaction effectively whittles TA Realty’s San Antonio holdings down to two: The 159,440-square-foot Oak Park office tower, and 304-unit Mission Hills apartments.
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