Local law practice Dilley Law Firm has purchased the historic Staake-Stevens Buildings from San Antonio developer Hixon Properties. The property sits at 309 East Commerce St., just two minutes west of the River Walk.
Hixon is selling the property in advance of its move into The Soto building on Broadway at the end of 2023. Terms of the deal weren’t disclosed, though Dilley took out a $5 million loan from Karnes County National Bank as part of the transaction, according to a deed of trust filed with Bexar County. The site’s 2023 assessed value is about $2.1 million.
In an interview with the Business Journal, Dilley Managing Partner Miguel Dilley said that the firm jumped at the chance to own the property, which is technically two buildings on the National Register of Historic Places. There’s also a personal connection, as he’s married to Gloria Dilley, a member of the Steves family who owns and operates longtime local manufacturer Steves & Sons.
“My wife’s family is from San Antonio and they’ve been in business since 1866,” he said. “I suspect that some of the lumber used to build that building was supplied by Steves & Sons.”
Dilley envisions being a steward of the property for generations to come. He said there will be some repositioning of the tenant makeup as Hixon exits the property.
“There’s going to be some law firms renting from us,” he said. “I think there might be some new tenants coming in, hopefully before the end of the year, and we’re trying to find very unique tenants for it because it’s such a unique and special building.”
The Staake Brothers building and the Stevens Building were built in 1894 and 1891, respectively. Both were drawn up by James Riely Gordon, the architect who also designed the Bexar County Courthouse.
Dilley said new tenants will likely be announced by the end of the year.