San Antonio's GrayStreet Partners has sold the last of a group of properties along Houston Street that it bought in 2015 to Ridgemont Properties Inc.
GrayStreet Partners has sold the last of a cluster of properties it bought along Houston Street nearly a decade ago — a major deal that buoyed hopes of a revival for the once-thriving thoroughfare — to another local outfit bullish on downtown. San Antonio -based Ridgemont Properties Inc. bought the Frost Bros. building and the adjoined Bennett and Schaum buildings across from the Majestic Theatre in mid-August for an undisclosed price.
Gunter Hotel downtown shuts down temporarily due to pipe break during renovations Ridgemont was founded in 1984 and primarily owns commercial and residential properties within Loop 410, including buildings downtown, near Pearl, in Monte Vista and in Alamo Heights. The firm will be working with CBRE Group Inc. and Shop Cos. to lease about 5,400 square feet of vacant retail space and 17,000 square feet of empty office space across the Houston Street buildings.
to buy major office building vacated by USAA amid downtown San Antonio expansion GrayStreet had owned the buildings since 2015, when the San Antonio firm acquired nine Houston Street properties from Federal Realty Investment Trust of Maryland. The purchase included the Kress and Vogue buildings and a building occupied by Walgreens.
Ambitious downtown developer GrayStreet grapples with setbacks In recent years, GrayStreet has unloaded some of its downtown properties and shifted its focus to a mixed-use project dubbed Broadway East that it plans to build with Fulcrum Development near Pearl. GrayStreet also is trying to sell the former Lone Star Brewery complex, which it had proposed turning into housing, offices, restaurants, art installations and green space with connections to the Mission Reach section of the River Walk.
is seeking to buy a collection of buildings along South Flores Street between Nueva and Dolorosa streets from the firm. GrayStreet still owns the Light building and the half-block at Fourth and North Alamo streets, as well as buildings along South Flores and West Nueva streets and along Soledad Street and parking lots. Covey did not respond to an inquiry about the sale or GrayStreet’s plans for other properties.
Graystreet Partners Ridgemont Properties Inc. The Palm Capturerx University Of Texas At San Antonio Frost Bros. Walgreens Vogue Ridgemont DOWNTOWN NEWS CBRE Group Inc. San Antonio Light Federal Realty Investment Trust USAA Museum Lone Star Brewery Texas De Brazil Hotel Valencia MLSA Ventures Fulcrum Development Kevin Covey Kress Trebes Sasser Jr. Bohanon Chama Gaucha Pearl Bohanan Bennett Schaum Gensler Weston Urban Mercado Roma Houston Street San Antonio Grant Building Gunter Hotel Alamo Visitor Center And Museum North Alamo Majestic Theatre Brazilian Monte Vista Alamo Heights Fourth Travis Park Plaza Ridgemont Children's Museum Villita Assembly Building Broadway South Flores Street Maryland Shop Cos. Hearst Soledad Street River Walk Nueva West Nueva Mexico City Houston Street Tax Increment Reinvestment Zone Broadway East Bunker Mixology Loop 410 Grant San Antonio African American Community Archive Mission Reach Wework Light
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