CBRE to Manage, Lease TX Office Portfolio

Bow River Capital acquired Centerview Crossing earlier this year. The park contains nearly 240,000 square feet of Class B office space across seven buildings.
4415 Piedras Drive W.

Bow River Capital has named CBRE to oversee management and leasing at the firm’s 237,469-square-foot Centerview Crossing office portfolio in San Antonio, Texas. The owner acquired the Class B assets from Omninet Capital in April, according to Bexar County records. The previous owner had managed the buildings itself, with a Transwestern team leading leasing efforts.

Centerview Crossing comprises seven buildings located at 4502, 4538 and 4606 Centerview Drive, 4335, 4410 and 4415 Piedras Drive W. and 4318 Woodcock Drive in the West San Antonio office submarket. The properties are accessible via Interstate 410, which runs just to the north and provides access around the metro area.

4538 Centerview Drive

According to Yardi Matrix data from March, the buildings have a weighted vacancy rate just shy of 40 percent. The tenant roster includes the City of San Antonio, the U.S. Department of Veteran Affairs and several health-care, insurance and law firms. The structures were constructed between 1968 and 1978, and the previous owner carried out cosmetic renovations in 2014. CBRE’s Lindsey Tucker and Carl Salvato will head up leasing team for the properties.

“We have opened up a new management office at the property, giving tenants face-to-face interaction with the management team. Prior to closing, there was no on-site management presence,” Blake Sheppard, director of asset services with CBRE, told Commercial Property Executive. “Our goal with this office is to bring up the overall level of service for both the tenants and the property.”

Images courtesy of Yardi Matrix