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May. 21, 2013

USAA Real Estate Partners with Patrinely Group for New Office Development in La Cantera

By Anca Gagiuc, Associate Editor

San Antonio is preparing to receive a new office development on La Cantera Parkway. USAA Real Estate Co., the owner and master developer of La Cantera, and Patrinely Group L.L.C. announced to local brokers their collaboration on the WestRidge project. 

La Cantera evolved into the favored business and retail destination of the area due to  existing or in-progress developments such as The Westin La Cantera Resort, The Shops at La Cantera and The Residences at La Cantera. Forty-two acres allocated to the property will be transformed into four office buildings, each totaling approximately 128,700 square feet of Class A office space. Construction on WestRidge One will begin during the fourth quarter of 2013 and will be the first of the four four-story office buildings proposed. The property’s design aims to qualify for LEED Silver certification.

The local listing broker on the project is Travis Commercial Real Estate. “WestRidge at La Cantera will combine efficiency with the most attractive new office project in San Antonio.  The access, amenities and the strength of the development team of USAA Real Estate Co. and Patrinely Group will set WestRidge apart from any other office developments in the city,” said Chuck King, co-founder of Travis Commercial Real Estate Services, in a press release.

Property management and leasing services will be under the care of Crimson Services L.L.C., an affiliate of Patrinely Group. It currently manages approximately 3 million square feet of Class A office space throughout the country.

USAA Real Estate is a subsidiary of the leading financial services company USAA, which serves military families since 1922. It manages assets worth approximately $12 billion, providing co-investment, acquisition, build-to-suit and development services for corporate and institutional investors.

The development partner, Patrinely Group L.L.C., is a nationally recognized real estate development firm with 30 years of experience. It specializes in commercial office and residential projects.

Photo credits: www.westridgeatlacantera.com