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Author Topic: Gauging Interest - Office Space in San Antonio  (Read 618 times)
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February 06, 2013, 10:16:54 PM

I've been occasionally driving by this tower for a while now and finally stopped by to see what kind of space was available.

The building directory lists 5 or 6 businesses but, according to the security guard, only two remain plus a restaurant/cafe on the Lobby level. I did a little internet research and it seems the previous building owners constructed a brand new edifice a few miles away and moved their offices there. The new owners are reportedly investing a few million dollars into some remodeling and haven't been seeking out new tenants very eagerly.

A few bitcoin related businesses willing to rent some space here and we could make the following a reality:

The top (fifteenth) floor is entirely vacant and looks like this:

Larger image here.

Base rent is $14.50/sq ft but any lease will be Triple Net, which means the yearly payment will be closer to $25/sq ft. According to my rough estimates, the average cost for each of the twelve offices on this floor would be almost $2000/month.

Other floors are also vacant and have more offices, equalling less square footage and rent, but I feel we might have more bargaining power in negotiating better rates if we could rent an entire floor. Of course, if there is demand for 23 or 24 smaller offices, another floor could still be rented in its entirety at more affordable rates.

The trick to pulling this off, of course, is convincing enough bitcoin related businesses to move to San Antonio; I am only aware of a handfull of local businesses I can approach and I have no idea what kind of lease they might already be locked into at their current location.

This building is right at the intersection of Interstate 10 and a major road. It is ten minutes away from downtown San Antonio and the San Antonio International Airport.

Anyone interested in joining me here?

Edit: wrote "monthly" but meant "yearly"

Still around.
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