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

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New office development just a piece of Fulcrum’s 32-acre Landmark Centre puzzle

craneWhile a majority of Northwest San Antonio’s new office product is built around existing retail or multifamily activity, with Landmark One, Fulcrum development will build the surrounding environment on its own.

Nestled in the southeast corner of I-10 and Loop 1604, the local development group is plowing ahead with plans to build a six-story, nearly 165,000-square-foot office building as one of the first pieces for Landmark Centre, Fulcrum’s 32-acre master-planned community.

The true Class A structure will be positioned at the top of the hill, providing 360-degree views through full-height glass windows. Large floor plates, a full-service restaurant and cafe on the first floor, a large parking garage and direct access to retail sprinkled throughout the Centre will put Landmark One on or above the level of other nearby office developments, including the four-story, 129,000-square-foot WestRidge at La Cantera.

But here is the real kicker.

Landmark One will be right in the middle of a dynamic master-planned community that is at the epicenter of one of the most active submarkets in the city. In other words, it will truly be at the center of everything in Northwest San Antonio.

Well times have definitely changed. With deals signed to include a number of restaurants as well as a 200-room full-service hotel with banquet and conference space, Landmark Centre is well on its way to becoming the next hotspot within a hotspot, following in the footsteps of the Rim, La Cantera and Eilan.

And tenants have demonstrated that they are willing to pay not just for what is in a building, but most importantly, what’s around it. Rents at Landmark One are set at $27 per square foot NNN, meaning that after taxes, building insurance and maintenance, tenants will likely be paying in the high-$30s per square foot.

There is no doubt that Northwest San Antonio is one of the most active development corridors in the city, and once Landmark One breaks ground later this year, the area will be propelled even further.

Click to read entire article: New office development just a piece of Fulcrum’s 32-acre Landmark Centre puzzle (San Antonio Business Journal, 07-21-15)

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