Geekdom, the collaborative coworking site is moving into the historic Rand Building downtown in December.
Weston Urban, the commercial real estate firm owned by billionaire Graham Weston, Monday announced it has bought the Rand Building, constructed in 1913, from Frost, the banking subsidiary of Cullen/Frost Bankers Inc.
The historic, eight-story, downtown building is located at 100 E. Houston Street at the corner of Soledad. The price or terms of the deal were not disclosed.
Frost plans to lease back most of the building from Weston Urban for two years and plans to completely turn over the building in the Spring of 2015 and meanwhile it’s vacating two floors so that Geekdom can move in.
The building will become the permanent home for Geekdom, founded by Weston, chairman of Rackspace. The new building allows Geekdom to double in size and remain downtown.
“It will really anchor the startup community in San Antonio” Weston said. “Geekdom has grown to 50,000 square feet of space including the Open Cloud Academy. We need even more space over time.”
The building will also be a leading candidate to house Rackspace’s Open Cloud Academy, which offers IT training and certification focused on cloud computing. Both Geekdom and the academy are currently housed at the Weston Centre.
“Frost is delighted that Weston Urban will be bringing new energy and commitment to downtown San Antonio when Geekdom moves into the Rand Building across the street from the Frost Bank Tower,” Dick Evans, Frost chairman and CEO, said in a news statement.
Frost plans to relocate its employees to a new facility in Westover Hills near the Frost Technology Center, Evans said.
Geekdom expects to move into the Rand building in December, according to Nick Longo, its director.
And no – this is not an April Fools joke.
Disclosure: Geekdom is a sponsor of Silicon Hills News