Oracle doubles office footprint in San Antonio with Loop 410 expansion

A giant in the software space is expanding its footprint in the city.

Oracle — a global tech company based in Austin at the moment — has doubled the amount of office space it leases in San Antonio. The company's renewal at the Spectrum building at 613 NW Loop 410 brings it up to 34,000 square feet of SAlamo City office space. The shift brings the Spectrum building to an occupancy rate of 76%.

Hartman VREIT XXI, a subsidiary of Hartman Properties, owns the tower.

In a statement, Hartman Properties Founder Al Hartman said the deal could ripple across the city's office market.

"As the market continues to be highly attractive for corporate expansion and relocation, bringing high-paying jobs to the area, Oracle's decision to expand underscores the city's appeal as a prime business destination," he said. "We are thrilled to facilitate Oracle's growth in San Antonio and remain committed to supporting the city's economic development."

In an interview, Hartman Properties COO Margaret Hartman said the expansion speaks to the attractiveness of San Antonio and its economy.

"I'm sure that Oracle has seen that they are able to hire good talent in San Antonio and people are able to live affordably there," she said.

Keep up with the latest San Antonio headlines by signing up here for SABJ newsletters. 

Prior to the pandemic, the company occupied four floors of the Spectrum building and was recently negotiating to remain in a 17,000-square-foot space there. But after seeing positive results in their return-to-work initiatives, Oracle asked for twice the the space to accommodate staff.

Margaret Hartman said the company is starting to see interest from prospective tenants who want full-floor spaces akin to Oracle. The firm has been investing more in preparing flexible work spaces for those deals.

"We've budgeted and are allocating funds to this building because of the leasing activity that we see," she said. "We want to be able to have some spaces that are made ready and able to be leased because we see an increased amount of leasing interest in the Spectrum building."

Oracle did not respond to a request for comment before publication time.