CPS ENERGY SELLS DOWNTOWN SURPLUS PROPERTY LOCATED AT 146 NAVARRO
(San Antonio, TX) – February 11, 2021- In connection with its move to a new building on McCullough Avenue last year, CPS Energy placed several of its surplus properties on the market, including their property located at 146 Navarro Street, which included the Navarro Building and Garage.
The utility completed the sale of the Navarro Building and Garage on February 5, 2021, to B.H. 146 Navarro Street, LLC, a California limited liability company that is affiliated with BH Properties, a Los Angeles based real estate company with regional offices in Dallas and Phoenix (www.bhproperties.com), for the sales price of $22,250,000.00. There were multiple bidders for this property.
The property, along with those listed below, had been designated as “surplus properties,” which means they will not be needed for the utility’s operations once they moved in 2020. The sale of the properties will partially offset the cost of the utility’s new building at McCullough Avenue, which is being paid for with proceeds from the property sales and cash. Combined with environmental best practices and energy efficiencies, the new building reduces expenses, helps spur growth in Downtown’s northern area, and continues CPS Energy’s commitment to the San Antonio community.
Surplus properties listed included:
- Main Office Building (145 Navarro Street)
- Navarro Building and Garage (146 Navarro Street) SOLD
- Tower Garage connected to the Main Office (211 Villita Street, Portion owned by CPS Energy)
- Surface Parking Lot 2 (lot adjacent to the Mexican Consulate)
- Villita Assembly Building (401 Villita Street)
- Northside Customer Service Center (7000 San Pedro Avenue)
- Former Jones Avenue Service Center (326 W. Jones Avenue)
CBRE, a leading real estate services, and investment organization, lead the marketing of this substantial and diversified offering that includes several property assets located in a Federal Opportunity Zone.
CPS Energy will continue to share information about the surplus property sales as they are finalized.