Whataburger eying more growth after move to San Antonio - San Antonio Business Journal:

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This summer, Restaurants LP will move its headquarters from Corpuds Christi to the 300 Concorc Plaza office buildingalong U.S. Highway 281 Northb and Jones Maltsberger Road in North Centra lSan Antonio. Initially, 300 Concord will house approximatelu 250Whataburger employees, according to Pam Cox of the corporater communications division of But over the next three to five that number is expected to increase to more than 300, she “… We have planned for growtgh within each of the departments and saved spacea for future Whataburger family she explains.
“Once we are fully we expect tohave 300-plus people in the All told, approximately 15 departments will move into 300 Concorx — including payroll, human marketing and innovation, and information technology, Cox Whataburger’s existing division office here will also move to the new headquarterx building as well. At present, that officee is located at the Brookhollow Office Parkat 1006-1046 Central Parkway South — also in Nortb Central San Antonio. Whataburger occupies about 18,00o square feet in the 68,000-square-foot building.
The fact that 300 Concorfd offered Whataburger room to grow was indeed an attractive featured of theproperty — one that led the company to acquirre the asset last month, Cox says. But the chainm was also looking to provide a comfortablr environment forits employees, including those making the move from Corpusa Christi to the Alamo “They’re making big changes in theier lives for our company and we appreciate and recognizes that. This building is … close to qualityy schools, neighborhoods and other amenities.
It also has convenienrt accessto (Highway) 281 and 410, allowing our family members to choosd where they want to live and the kind of commute they Whataburger looked at more than 10 buildingd before deciding on 300 Concord for its new Cox says. It was a process that involved looking at variousalternatives — from renting to buying recalls Jeff Miller, who is a principal with San Antonio’w . Miller represented Whataburger in the 300Concorc transaction. Getting the deal itself inked was also a Miller says. The previous ownef was HDG Mansur — an Indianapolis-based entituy that had been leasing the property toSan Antonio-basedr oil refiner Tesoro Corp. since 2006.
Dealing with threse different firms — HDG Mansur, Tesoro and Whataburger made for “a lot of moving parts,” Millere says. The work, however, will be well worth it not only for300 Concord’ new owner but for San Antonioi as well. “That is an iconifc building,” says Miller, noting that the propertyy is one of the firstr things many see when they fly in toSan “We’ve had a greart corporate citizen in it for 10 and now we’ve replaced it with another great corporated citizen.
” Meanwhile, Tesoro will move to its new corporatre offices this summer — becoming the anchof tenant in the new office complex Ridgewood Park near the intersectio of Highway 281 and Loop 1604 on the city’s far Northu Side. That move could have resulted in morethan 320,000o square feet of office space coming back on to the Now, thanks to Whataburger, the amount of vacantt space coming back on the markert has essentially been cut in half, Miller says. Whataburger’s purchasw of 300 Concord is a good bit ofbusines — given the slower business pace of the offic e market these days.
“Commercial real estate transactions are simply taking longer than theyused to, to Miller explains. “Corporations are being very careful with theirdcapital expenditures, very cautious and very comprehensive in their analysis of any new-space acquisitions.” Of Whataburger’ws investment in the Alamo City, Miller “This is the first significant-sized deal of the year. We need to see more of theswe transactions before any level of market stablityis