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

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Primera Energy headquarters could sell for $1.25 million

21022 Gathering Oak

21022 Gathering Oak

Primera Energy LLC’s headquarters building did not last very long on the market.

Less than a month after Chapter 11 bankruptcy trustee Jason Searcy put the building up for sale, San Antonio-based attorney Alex Katzman with the law firm Katzman & Katzman has placed the building under contract.

Katzman could not immediately be reached for comment but bankruptcy court records show he is offering $1.25 million to buy the 7,525-square-foot Class A office building.

Located at 21022 Gathering Oak just off far north Blanco Road, the one-story building was originally built in 2007 and features covered parking spaces and a gated outdoor recreation area with a stylized Spurs basketball court.

U.S. Bankruptcy Judge Craig Gargotta must authorize the sale before a closing date can be set but federal court records show that REATA Real Estate Services brokered the deal.

The records show that Katzman will pay $300,000 in cash for the property and will finance the remaining $950,000. The San Antonio attorney has already put down $20,000 in earnest money using a check from the operating account of Katzman & Katzman.

The law firm is currently housed at a multi-story office building off Isom Road and U.S. Highway 281 but it is unclear how Katzman will use the building.

 

Click to read entire article: Primera Energy headquarters could sell for $1.25 million (San Antonio Business Journal, 09-24-15)

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