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

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Two new leases at Fountainhead to bring occupancy from zero to 90 percent

Fountainhead occupancy now at 90%

Fountainhead occupancy now at 90%

The 85,000-square-foot Fountainhead II may have been sitting empty for a while, but thanks to two new leases for the Northwest San Antonio office building, that zero-percent occupancy rate has rocketed to 90 percent.

The first deal came after a six month, multi-city search in which Lake City, Utah-based Sorenson Communications sealed its decision to head to San Antonio with a 25,000-square-foot lease. The second deal, was a 40,330-square-foot lease with Lake Forest, Illinois-based W.W. Grainger Inc. (NYSE: GWW), a business-to-business distributor of products used to maintain, repair and operate facilitates.

According to construction permits filed with the state, Grainger now occupies the full third and part of the second floors. Finish-out work was estimated to cost $2.85 million.

The two leases, both of which were signed about 30 days apart in fourth quarter 2015, provide a serious boost for the Fountainhead Business Park, which is located on a 12-acre campus at 4411 and 4545 Horizon Hill Blvd.

Click here to read the full article: Two new leases at Fountainhead to bring occupancy from zero to 90 percent San Antonio Business Journal 6-2-2016

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