Roslyn, New York-based DNA Partners has sold Highpoint Towers, two 11-story office towers totaling 301,118 square feet adjacent to the south Texas Medical Center in San Antonio. The property, one of San Antonio’s largest, was purchased for an undisclosed amount.
Highpoint was the last office property DNA Partners owned in San Antonio after previously selling the Finesilver Building on Broadway Street. DNA Partners still owns two retail properties in the area.
Highpoint Towers is situated on a 13.06-acre site in San Antonio at 8401 and 8515 Datapoint Drive, which is accessible from three major highways: Interstate 10, Loop 410 and Loop 1604. The assets are located in the northwest office submarket adjacent to the South Texas Medical Center, a 900-plus-acre campus with five medically-related institutions, 12 hospitals and one higher education institution.
The new ownership plans extensive renovations to the project, including upgrading the lobbies, exterior aesthetics, elevators and bathrooms.
HFF’s investment sales team marketed the property. The HFF team was led by managing director John Taylor, associate director Kelsey Roop and real estate analysts Patrick McCord and Ryan McBride.
“We are excited that, by selling the last office property in DNA Partner’s portfolio, it will provide them the opportunity to focus on continuing to grow an already well-established ‘pure’ retail portfolio,” Taylor said. “In addition, this is a great opportunity for a new strong office operator to enter the San Antonio market and create significant new value on one of the largest office properties in the market.”
Photo courtesy of HFF