Spectrum Building Sells to Hartman REIT for $17M

Hartman vREIT XXI Inc. struck a deal with Pace Properties to acquire the Spectrum Building in North Central San Antonio. The Dallas-based buyer paid $16.5 million — or $94 per square foot — for the office property at 613 NW Loop 410.

The building opened in 1986, and is 87.7% leased to 12 tenants. One of the tenants, Oracle America Inc., occupies approximately 85,500 square feet — or 48.7% of the rentable space.

“The acquisition of the Spectrum Building represents another step in expanding our San Antonio footprint,” said David Wheeler with Hartman REIT. “This area provides both a centralized location and great access to the northern San Antonio area that is attractive to many businesses.”

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