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New Braunfels Offices Trade to East Coast REIT
San Antonio-based Koontz Corporation sold Parkview Plaza, a 58,574-square-foot office building in New Braunfels, to Rochester, NY-based Royal Oak Realty Trust for an undisclosed sum. The single-tenant building is fully leased to PNC Bank, which will employ more than 500 workers at full capacity.
“The sale of Parkview Plaza to a New York-based investment firm further demonstrates that the confidence we have long had in the New Braunfels market is well-founded,” said Koontz president and CEO Bart Koontz. “Businesses across the United States are recognizing the many advantages of locating in New Braunfels.”
The developer completed the first phase of the Parkview Plaza office development in 2018. Koontz also owns the adjoining four acres of land in Sundance Business Park—the last remaining undeveloped tract in the park— and is pre-leasing and planning Phase II, which will consist of about 47,000 square feet of Class A office space.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
