San Antonio 11-Story Medical Office on the Auction Block

Although there are some sporadic signs the office market is rebounding since the Covid crisis, many office towers are more empty than full. One of those is the Rosa Verde Towers in San Antonio. The San Antonio Business Journal pegs the buildings current occupancy rate at 15% and says it’s losing money. The 11-story office, built in 1972 was renovated in 2018 but has struggled of late and the owners are selling the building at auction.

The building is being sold by its current owner, Chicago-based real estate investor Harrison Street. Sold to Harrison Street in 2021, the building was previously owned in a partnership between Ackerman & Co., Artemis Real Estate Partners and MLL Capital. Bidding is scheduled to open on April 17 at 11 a.m. and close on April 19 at 11 a.m. Lamar Fisher of Fisher Auction Company Inc. is facilitating the auction. The starting bid for the auction will be $1.25 million.

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