City Of San Antonio Acquires 5.7 Acre Development Site From Edward C. Forst For $30M

The transaction involved a 5.7-acre development site located at 727 East César E. Chávez Boulevard in San Antonio, TX. The property was sold for $30 million, which is intended to facilitate the development of the Project Marvel entertainment district and a new NBA arena.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $30,000,000
• Buyer: City of San Antonio
• Seller: Edward C. Forst - The General Services Administration
• Market: San Antonio, TX
• Acres: 5.7

The General Services Administration completed the sale five years ahead of schedule as part of its initiative to dispose of underutilized federal real estate assets. The funding for the project was provided by the San Antonio Spurs, reinforcing local investment in the planned entertainment district.