Advenir Picks 109K SF San Antonio MOB

Advenir has acquired Greenway Park, a 109,000-square-foot medical office and clinical research facility in San Antonio. Gemini Rosemont sold the Class B property which traded for $179 per square foot, CommercialEdge data shows. The facility was fully leased at the time of the sale.

The buyer financed the purchase with help from a $30 million acquisition loan, provided by Bank of America, according to the same source. Vitalis brokered the transaction.

Completed in 1983, the three-story building underwent cosmetic renovations in 2002.

Commmercial Search reports Worldwide Clinical is anchoring the building and has been doing so since 2005, occupies 85 percent of the space and has invested $5 million in the facility. The research organization includes 200 beds for overnight studies, a pharmacy, sample processing lab and Class 10,000 clean room.  WellMed is occupying the remaining space and has made a capital investment as well, in order to accommodate 12 providers at the clinic.