CPS finds buyer for soon-to-be-vacated HQ

The university reached an agreement that begins April 1

CPS Energy logo
CPS Energy logo (KSAT)

SAN ANTONIOEditor’s note: This story was published through a partnership between the San Antonio Business Journal and KSAT.

City-owned utility CPS Energy has found a potential — and undisclosed — buyer for its current headquarters building downtown as it prepares to move into its new home this year.

CPS Energy's board on Monday authorized President and CEO Paula Gold-Williams, or her designees, to complete the sale of the utility’s main office building at 145 Navarro St. and the Navarro Building at 146/134 Navarro St.

While CPS has identified undisclosed possible buyers and has granted Gold-Williams permission to sell the properties, the resolution does not obligate her to finalize the transactions. CPS board Chairman John Steen said the choice to give Gold-Williams permission to complete the sales avoids the need to convene the board as city officials sitting on the board such as Mayor Ron Nirenberg confront the COVID-19 pandemic.

If completed, the transactions will include the parking deck attached to the Navarro Building and the 44,000-square-foot parking lot at 121 Navarro St. adjacent to the Mexican Consulate, which was advertised as a possible development site.

Read the full story at the San Antonio Business Journal.

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