S
ynerMark Properties has expanded its commercial portfolio with the acquisition of Fountainhead Tower, a 10-story office building on San Antonio's Northwest side. The Austin-based investment firm purchased the 178,000-square-foot Class A building at 8200 Interstate 10 from KBS Realty Advisors for an undisclosed price. Cushman & Wakefield brokers Todd Mills and Hunter Mills represented KBS in the transaction.

    The property has a strong tenant mix, amenities, and location, according to Ben Bittner, SynerMark's managing director of acquisitions and asset management. The building is nearly fully leased, with only about 16,000 square feet available. SynerMark believes San Antonio's diverse economy and rapid growth make it an attractive market for future investments.

    The purchase marks the first potential acquisition in a series for SynerMark in the San Antonio market, said Steve Pyhrr, the firm's president and CEO. Gio Cordoves, Western U.S. regional president, noted that San Antonio's low office vacancy rate of 16.4% makes it an attractive location despite "tepid" demand. The Northwest submarket has a vacancy rate of just 14.3%, with 15.6 million square feet of office inventory.