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

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Nationwide to develop corporate campus in Westover Hills

Current Nationwide office at Parkway Center

Current Nationwide office at Parkway Center

For more than three years, Nationwide Mutual Insurance Co. has been eyeing San Antonio for possible expansion.  I refer you to the San Antonio Business Journal article Nationwide Insurance ramping up operations in Alamo City dated October 17, 2006.  Looks like they are finally ready to move forward with their plans with the help of $2.5 million from the Texas Enterprise Fund, according to a statement released earlier today by Governor Rick Perry.  Nationwide’s expansion is expected to create more than 750 high-paying jobs and generate more than $94.8 million in capital investment in Texas.

Unfortunately, the expansion will not involve taking down existing vacancy currently available in the multi-tenant office market as previously rumored.  Instead, Nationwide plans to build a new regional corporate campus in Westover Hills.  To date, nothing has been said about the future of the current lease at Parkway Center located at 11603 Coker Loop.  

Construction of the $90 million facility is scheduled to begin late next summer with completion set for December 2011.  Check out more details as reported by David Hendricks in Nationwide bringing 838 jobs to S.A.

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