Iconic San Antonio office building sells to out-of-state firm

A huge long-term federal lease in the building was a likely draw for the buyer.

The Pyramid, a 220,820-square-foot office building along Loop 410, has a new owner. (Gabe Hernandez | SABJ)

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

One of San Antonio’s most-recognizable office buildings is under new ownership.

An affiliate of Cleveland-based Boyd Watterson Asset Management tied to its Chicago office has acquired The Pyramid at 601 NW Loop 410 near San Antonio International Airport for an undisclosed price, according to a deed filed with Bexar County.

The seller was Taurus Investment Holdings, a global private equity real estate firm based in Boston. JLL listed the 220,820-square-foot property for sale in August.

While the sale price is unknown, the 6-acre property was last assessed at $37.4 million, according to the Bexar County Appraisal District.

Scott Ferguson of Stream Realty Partners’ local office will handle leasing for the building, which is available to tenants looking for 2,025 to 13,615 square feet of space. Sharlyne Friedrich and Angie Bustamante, also with Stream, will head up property management.

“It is an exciting opportunity to work on such an iconic building in San Antonio,” Ferguson said in a prepared statement. “We look forward to bringing new companies to one of the most in-demand parts of town to grow their businesses.”

Over the last five years, the building has seen more than $1.4 million in renovations, according to JLL. Recent changes include refreshed common areas and a new exterior lighting system. Boyd Watterson has not yet announced plans for any additional renovations, according to a Stream spokesperson.

Built in 1980, the building once served as the headquarters of the now-defunct San Antonio Savings Association, according to the Express-News.

Click here to read the full story in the San Antonio Business Journal.

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