iHeartMedia’s corporate headquarters in San Antonio has been put up for sale by the real estate investment trust that owns the property.
The listing is structured as a sale-leaseback investment opportunity featuring iHeartMedia as the “industry leading tenant.”
The company currently pays $2.09 million in annualized base rent and holds a long-term lease on the building through January 2035. No asking price was disclosed.
W.P. Carey originally purchased the property from iHeartMedia in 2015 in a sale-leaseback transaction. It was later transferred to Net Lease Office Properties in 2023 when W.P. Carey spun off 59 office assets to focus on industrial and retail properties.
The headquarters sits on an 18.95-acre site in San Antonio’s Far North Central office submarket. Built in 2002, the facility underwent a $5 million renovation between 2017 and 2019. It houses corporate offices along with data center, disaster recovery, and studio operations.