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Thursday, February 09, 2012 Office
Medical office developement company Oaks Development Group has closed on Shavano Oaks II, a 35,000-square-foot medical office building in north central San Antonio. The development will feature the company's tenant ownership model that divides ownership of the building among the tenants, equity investors and the developer. Holliday Fenoglio Fowler (HFF) arranged $6.9 million in construction financing for the building at 3603 Paesanos Parkway, near Interstate 10. Completed in October, the three-story Shavano Oaks II has 34,576 square feet of leasable medical office space. Completion for the four current medical practices is under way with occupancy expected in early 2009. Oaks Development Group placed the building under contract while it was under construction and began securing leases from a core group of doctor tenants, who are also given ownership in the property. Approximately 70 percent of the space was pre-leased at closing and the remaining space will be leased to future medical practices that compliment the existing tenants' businesses. Address: 3603 Paesanos Parkway, San Antonio, Texas Size: 34,576 square feet Built: 2008 Filed Under: Office E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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