A California-based real estate firm, KBS, has successfully leased 44,000 square feet of space at the City View office building in San Antonio. The tenant for this lease is Wells Fargo, one of the largest banks in the United States. With this lease agreement, the City View office building has reached an impressive 96% occupancy rate. The property, located at 10999 Interstate 10, offers a prime location in San Antonio's office market.

Summary of transaction details

• Property Type: Office
• Transaction Date: January 16, 2024
• Address: 10999 Interstate 10, San Antonio
• Market: San Antonio
• Asset Size: 44,000 SF

This leasing transaction was facilitated by real estate professionals representing both the landlord and the tenant. Giovanni Cordoves, the landlord, is a principal at KBS, the property's owning company. On the other side of the deal, Charles W. Scharf, the CEO of Wells Fargo, acted as the tenant. To assist them in this transaction, Lindsey Tucker, a representative from Partners Real Estate, represented the landlord, while Mark McGranahan from Avison Young and Steve Garza from Partners Real Estate represented the tenant. This successfully closed leasing deal demonstrates the positive real estate indicators in San Antonio, including lower vacancy rates and asking rents compared to other cities in Texas.