EastGroup Breaks Ground on $10M Thousand Oaks Office Complex
- Jul 23, 2011
EastGroup announced plans to break ground on a nearly $10 million office development project. The 109,000 square feet of multi-tenant office space will be located in North Central San Antonio and will consist of two buildings, Thousand Oaks I and II, with completion planned in the first quarter of next year. The projected cost for the entire complex is $9.6 million.
It appears that EastGroup is steadily building up its office portfolio in San Antonio, as it already owns 1.2 million square feet of office space in the city that is currently 97 percent leased. Moreover, in March the company bought four buildings in the Fairgrounds Business Park for $10.5 million. The buildings total 231,000 square feet and are currently 80 percent leased.
EastGroup currently has several developments in the works, including five buildings with a total area of 411,000 square feet and a projected investment of $31.7 million.
In other news, a new hospitality brand is coming to San Antonio. The 126-room Country Inns & Suites, owned by Carlson, is located near the International Airport. The opening of Country Inns & Suites marks the entrance of Carlson’s brand in San Antonio and its 20th location in Texas.