Real estate pros kick off large office project at University Park

A real estate venture made up of several veterans of the local industry has announced its first development.

Milam Real Estate Investors has broken ground on a new office building. The project will be located within the master-planned development University Park -- which spans 176 acres of land at Interstate Highway 10 and DeZavala Road in Northwest San Antonio.

Milam's new building will come in at roughly 95,000 square feet -- to be spread out over two floors of some 47,000 square feet each. The parking ratio of the project will be 5.5 spaces per 1,000 square feet of space.

The design of Milam's project makes it a good option for users wanting a higher-density office space -- versus what is often found in a traditional Class A building, according to Mark Krenger, a partner in Milam.

The set up of the building, he adds, will be attractive to the "types of tenants that are already in this park."

Those tenants include noted names such as Southwest Business Corp., Kinetic Concepts, United HealthCare and OnBoard Software.

"This is a very well-established corporate environment," Krenger says. "It has a lot of great local and national corporate names. We like the area."

Milam's project is set to enter the market next June. It is being developed on a speculative basis.

The name of the building is 5859 Farinon -- which also happens to be the address of the project.

At least that's the name of the property for now.

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source: bizjournals.com