San Antonio’s corporate real estate scene just got a jolt. iHeartMedia has quietly put its Stone Oak corporate headquarters campus on the market, offering up the three‑story complex at 20880 Stone Oak Parkway even as it stays committed to the site for the long haul.
The property, owned by Premiere Networks, an iHeart subsidiary, comes in at roughly 120,000 square feet on nearly 19 acres. The move lands as the company tries to juggle fast‑growing podcasting and digital audio revenue with a fresh round of belt‑tightening.
What’s up for sale
Brokerage giant CBRE National Office Partners is handling the listing for the Stone Oak campus. In its marketing materials, the firm describes a single‑tenant, three‑story office building of about 120,147 square feet on roughly 18.95 acres. The campus was built in 2002 and received about $5 million in renovations between 2017 and 2019. The packet identifies iHeartCommunications, a wholly owned iHeart subsidiary, as the tenant, details that appear in the broker’s materials and commercial‑listing databases, according to CBRE.
Why now
The timing lines up neatly with iHeart’s latest financials. The company reported first‑quarter 2026 revenue of about $884.2 million but posted a GAAP net loss of roughly $95.6 million and rolled out a $50 million cost‑reduction initiative. Executives highlighted continued gains in podcasting and digital audio while stressing the need for greater efficiency, according to iHeartMedia.
What it means for San Antonio
Despite the for‑sale sign, this is not a pack‑up‑the‑boxes moment for local staff. iHeart is a tenant at the Stone Oak property, and its current lease runs through 2035, which keeps the North Central‑side headquarters anchored in place for now.
The company did not immediately respond to requests for comment, and CBRE declined to provide extra details when contacted. Even so, a change in ownership for such a prominent corporate campus could still ripple through the fast‑growing Stone Oak office submarket, according to the San Antonio Express-News.
A familiar move
If this sounds like déjà vu, that is because iHeart has played this card before. Back in 2014, the company sold its former headquarters at 200 E. Basse Road, then leased the space back, raising roughly $30 million in the process. Sale‑leaseback deals like that are a standard way for corporations to unlock cash while keeping day‑to‑day operations in place.
Recent commentary on the office market suggests investor appetite for single‑tenant, credit‑leased office properties has improved in 2026, a trend that could make the Stone Oak campus more appealing to institutional buyers, as reported by MySanAntonio.
What to watch next
Potential suitors include institutional investors and private‑equity firms that like long‑dated, credit‑leased assets. The offering is being marketed without a public asking price, which may keep local real estate watchers guessing for a bit.
The big questions on the horizon: Will a new owner pump more money into renovations, reshuffle tenants or eventually help reshape iHeart’s physical footprint in San Antonio? We will update this story when iHeart or the broker responds to requests for comment and when further listing information appears on Crexi or in the local press.
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