January 4, 2020
Dornin Investment Group (DIG) ended a four-year hold on Parkway Plaza office park, consisting of five, single-story office buildings totaling 189,390 square feet. The asset at 814 and 900 Arion Pkwy. in San Antonio sold to a Texas buyer, through an exchange.
The name of the buyer was not disclosed. Public records indicate it was Anderson Burnet Plaza Ltd., located in the Austin area. Todd Mills with Cushman & Wakefield represented the seller in the transaction.
DIG, located in Laguna Beach, CA, acquired the early 2000s property in May 2015 as a value-add play. The property’s combined occupancy was 91% at the time of the sale, with average base rents of $16.50 per square foot, triple net.
Parkway Plaza is situated on 13.7 acres, and is located in the North Central Submarket, directly north of the San Antonio International Airport.
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