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

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Peloton Commercial RE invests in North Central San Antonio market with flex-office buy

Northbrook Business Center Building 1

Northbrook Business Center Building 1

Flex-office spaces are having a moment right now, and coupled with rising demand for properties in North Central San Antonio, Peloton‘s recent investment was a double score.

The Texas commercial real estate firm recently closed on its acquisition of the Northbrook Business Center at 140 Heimer Road, a flex office and industrial property in the desirable North Central submarket. According to Real Capital Analytics, the property contributes $8 million to Peloton’s real estate portfolio.

Now at 75 percent occupancy, the 105,846-square-foot property is on the rebound from when it went into foreclosure about six years ago. The property was then sold to Dallas-based real estate private equity firm TriGate Capital, which brought Northbrook’s occupancy up from 50 percent and put capital into various improvements.

When TriGate hit the end of its targeted lifecycle for the project, Peloton happened to be in the right place at the right time.

Click to read entire article: Peloton Commercial RE invests in North Central San Antonio market with flex-office buy (San Antonio Business Journal, 11-09-15)

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