The General Services Administration (GSA) announced Monday it has closed on the sale of a federal building at Hemisfair that is key to the city’s plans for a downtown arena district.
The City of San Antonio acquired the building for $30 million with funds from Spurs Sports & Entertainment, as outlined in a non-binding term sheet approved by city council nearly a year ago.
The sale marks GSA’s ongoing efforts to rationalize the inventory of federal real estate and cut costs for American taxpayers, according to the agency’s statement…