San Antonio Welcomes New Real Estate Expansion
San Antonio is buzzing with excitement as COPT Defense Properties, a Maryland-based real estate investment trust (REIT), has recently made a significant addition to the city’s far West Side. Last week, a company affiliated with COPT purchased an impressive 80,362-square-foot office building located at 3900 Rogers Road. This newly acquired property is just a stone’s throw away from the bustling Westover Hills area.
A Smart Move for Growth
This latest purchase marks a strategic expansion for COPT Defense Properties, which has its hands full managing properties leased to prestigious clients, including the National Security Agency (NSA) and its Texas Cryptologic Center. The company has also set up shop in San Antonio with a data center operated by none other than Amazon. According to deed records, the 9-acre property had been listed for an asking price of $21 million earlier this year, but it remains a mystery as to what COPT actually paid for this office space.
The building at 3900 Rogers Road previously housed Aetna Inc., a healthcare giant, until 2022. Its vacancy, however, didn’t last long as the upgraded property quickly caught COPT’s attention. The previous owners, a partnership linked to Trans American Research and Development Corp. from Virginia, had invested time and effort into enhancing the property’s appeal. They spruced up both the interior and exterior, giving the landscaping a fresh look while also upgrading the parking lot. A security fence was added to boost safety, making it an even more attractive option for prospective buyers.
COPT’s Growing Presence
COPT Defense Properties specializes in owning, managing, and leasing out space tailored for government, defense, and information technology tenants. With this recent acquisition, their footprint on the far West Side of San Antonio is expanding. As a matter of fact, COPT already owns a cluster of properties in the area that include rentals to government entities such as the NSA, making this new addition a logical step in their growth strategy.
Market Trends in the Area
Interestingly, the building on Rogers Road isn’t the only office space making waves in the area. Other substantial office buildings are also on the market, adding to a burgeoning real estate scene. For instance, there’s a 198,000-square-foot office building on nearby Rogers Run that was formerly owned by Kohl’s Corp., and another 102,545-square-foot property off Texas 151 that has become available. Additionally, a large property once home to Nationwide Mutual Insurance Co. boasts a staggering 272,212 square feet of space that is also up for lease.
What’s Next for COPT?
While many questions about the future of the Rogers Road office building remain unanswered, including its potential uses, a spokesperson for COPT has opted to hold back comments on their new acquisition. However, considering their track record and focus area, it’s likely that this property will be put to good use, continuing to support government and defense-related activities.
As San Antonio continues to grow as a hub for companies in the defense and tech sectors, the arrival of COPT Defense Properties emphasizes the city’s appeal for such enterprises. Local residents and business owners alike will surely be watching with interest as this exciting new chapter unfolds.
