Real estate investment firm Harris Bay will relocate its Texas office to the Commerce Building in Downtown San Antonio. The firm has the building, which is appraised at $2.9M, under contract, the San Antonio Business Journal reports.
The sale price of the eight-story, 40K SF building was not disclosed. Harris Bay will lease out the remaining space in the building and is considering adding in mixed-use components, such as top floor residential.
Harris Bay will likely remodel the lobby. Architect CREO will oversee the remodel after the deal closes later in 2017.
Harris Bay’s Essex Modern City mixed-use development will break ground later in 2017. The $150M development in Denver Heights is a joint venture with local developer Efram Varga. The eight-acre project will have 80K SF of creative office, 65K SF of retail, 248 apartment units, 160 condo units, 80 townhomes and a food hall.