San Antonio: Dornin snags 189,000-SF Parkway Plaza

​​SAN ANTONIO – California-based Dornin Investment Group (DIG) has
acquired Parkway Plaza, a five-building, 189,388-sf office park in the
North Central submarket.

The 91 percent leased property sits on 13.7 acres directly north of San Antonio International Airport
and adjacent to the newly completed Wurzbach Pkwy.

In-place rents
at the property are approximately 10 percent below market rents. The
property’s stable cash flow is derived from three large tenants who
occupy 42 percent of the property.

“The location of this submarket
sandwiched between the CBD and some of the more affluent residential
areas help drive demand for office space. We anticipate the recent
declining vacancy and increasing rental rates to continue," said Chris
Dornin, president and founder of DIG.