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Brookwood acquires Tech Ridge in San AntonioBrookwood acquires Tech Ridge in San Antoniohttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=68432013-07-12T14:23:00Z2013-07-12T00:00:00Z

SAN ANTONIO - The 118,769-sf, two-building business park has been sold to Brookwood Financial Partners LLC. It is currently 83 percent occupied and is located near I-10, between Loop 410 and Loop 1604.

The current vacancy rate in the Northwest submarket is 19.5 percent, an 11.8 percent decrease from the peak of 22.1 percent in second quarter 2009, according to CB Richard Ellis-Econometric Advisors (CBRE),

CBRE is forecasting continued positive absorption and declining vacancy rates in San Antonio and attributes the forecasted improvement in market fundamentals to the continued Class A office space absorption, which has been positive in five out of the last six quarters.

In addition, there is limited land available for new construction in the immediate area, which, together with the decreasing availability of Class A office space, bodes well for Tech Ridge's leasing prospects and rental rate increases.

Read more at Business Wire.

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San Antonio-New Braunfels
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