SynerMark Properties Acquires 323,949-SF Union Square I & II Office Campus in North Central San Antonio

SynerMark Properties has acquired Union Square I & II, a 323,949-square-foot, two-building office campus in North Central San Antonio, Texas, JLL announced June 23. The seller was a joint venture led by Worth & Associates, a San Antonio-based commercial real estate firm. Tryperion Holdings provided preferred equity as part of the buyer's capital structure.

Asset Overview: A Two-Building Campus Near San Antonio International Airport

Union Square I & II sits at 10101 Reunion Place and 10001 Reunion Place, off US-281 just north of Loop 410 and immediately adjacent to San Antonio International Airport. The campus comprises two mid-rise office buildings: Union Square I, originally built in 1986, offers 192,763 square feet across 10 floors; Union Square II, constructed in 2006, provides 131,186 square feet across six floors.

At the time of sale, the property was 95% leased to a diverse tenant roster that includes law firms, banks and financial institutions, government agencies, engineering and consulting firms, insurance companies, healthcare providers and real estate services companies. The weighted average lease term remaining stands at 3.1 years.

The campus is surrounded by several San Antonio neighborhoods, including Castle Hills, Alamo Heights, Terrell Hills, Hill Country Village, Hollywood Park and Shavano Park, and sits within two miles of Park North and North Star Mall.

JLL Capital Markets Led the Sales Process for Worth & Associates

JLL's Investment Sales and Advisory team represented the seller. The team was led by Managing Director Drew Fuller, Senior Managing Director Chuck King and Vice President Patrick McCord.

"Union Square represents a rare acquisition opportunity in San Antonio, one of America's highest growth markets, at a significant discount to replacement cost," McCord said in the announcement. "The property's irreplaceable location along US-281, strong in-place cash flow and substantial value-add opportunity make this deal truly unique in the current market environment."

Fuller added: "The Worth team's meticulous attention to detail and hands-on management and leasing approach has distinguished Union Square as a superior office asset in the competitive North Central submarket. We're proud to be part of this marquee transaction and look forward to watching SynerMark's investment continue to succeed for years to come."

The sale price was not disclosed.

Capital Structure: Preferred Equity From Tryperion Holdings

Tryperion Holdings, a Beverly Hills, California-based commercial real estate investment firm that focuses on equity and credit opportunities in the U.S. middle-market real estate sector, provided the preferred equity component for SynerMark's acquisition partnership. Additional details of the capital structure were not disclosed.

About the Parties

SynerMark Properties is an Austin, Texas-based full-service real estate investment and services firm with a portfolio spanning office, industrial, multifamily and self-storage properties. Worth & Associates, the seller, has been in business for 40 years and is one of South Texas's longest-operating commercial real estate leasing, development, investment and brokerage firms.

JLL (NYSE: JLL) reported annual revenue of $26.1 billion and a global workforce of more than 113,000 as of March 31, 2026. The firm's Capital Markets group includes more than 3,000 specialists in offices across nearly 50 countries.

Sources

JLL Newsroom: Union Square I & II in North Central San Antonio Trades (June 23, 2026)