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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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CPS Energy sells 146 Navarro for $22M

CPS Energy recently sold its Navarro Building to Los Angeles-based BH Properties for $22.3 million.  The building and garage, located at 146 Navarro St., is situated across the street from its former headquarters at 145 Navarro.

Built as a seven-story parking garage for HemisFair ’68, CPS Energy has been the building’s sole occupant since the event, adding three stories of office space above the garage in 1987.

The Navarro Building is one of seven properties CPS Energy has designated as surplus as it consolidates some of its operations into a new headquarters tower at 500 McCullough Ave. The utility is using sales from those properties and available cash on hand to fund that $212 million project.

BH Properties said it plans to upgrade the building’s interior but retain it as office space for one or multiple tenants. Plans include refurbishing of balconies, redesign of public spaces including lobbies and restrooms, and new lighting throughout. For the garage, the company is planning new access controls and electric vehicle charging stations.

CPS Energy has not yet announced a buyer for its old headquarters building at 145 Navarro St. or its other five remaining surplus sites, which includes:

  • Tower Garage connected to the Main Office (211 Villita St.). CPS Energy and the Tower Life building’s owners each own half of the garage.
  • A parking lot on Navarro and Villita streets surrounding the Mexican Consulate (lot adjacent to the Mexican Consulate)
  • Villita Assembly Building (401 Villita St.)
  • Northside Customer Service Center (7000 San Pedro Ave.)
  • Former Jones Avenue Service Center (326 W. Jones Ave.)

Click to read entire article: CPS Energy sells downtown River Walk building for $22.3 million, San Antonio Report (2/12/21)

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