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Security Service Federal Credit Union buys 319,000-sq-ft office building
The 319,000 square foot property at 19003 W. Interstate 10 in San Antonio was acquired from Sunoco after prior sale-leaseback steps involving NuStar and Truist.
Security Service Federal Credit Union has acquired The Rim, a 319,000 square foot office building at 19003 W. Interstate 10, according to ConnectCRE.
The building was previously owned by NuStar, a subsidiary of Sunoco. Sunoco bought NuStar for about $6.5 billion in stock in 2024, and Sunoco had acquired The Rim after purchasing NuStar two years earlier.
ConnectCRE reports that NuStar had sold its headquarters to Truist Financial Corp. for $103 million in 2023 but continued to use the offices under a sale-leaseback arrangement. Sunoco later bought the headquarters back from Truist in June 2024 for an undisclosed amount.
Security Service said the acquisition will support future organizational growth and create additional opportunities for collaboration and employee engagement. ConnectCRE also notes that at the time, NuStar and Sunoco said NuStar would keep its headquarters in place for at least two years, though what comes after that has been unclear.