Whataburger Purchases Building for New Home Office

Whataburger announced today it purchased 300 Concord Plaza Dr. for its new home office. The building, located at the intersection of Jones-Maltsberger Road and U.S. Hwy. 281, features more than 140,000 square feet and will house all of the company's business functions to support its 700+ restaurants.

Whataburger chose the building because of its convenient central location for Whataburger 'family members' based at the home office as well as those who will travel to and from Whataburger's new headquarters for business. The location is near the San Antonio International Airport, and is close to quality schools, neighborhoods and other amenities.

"This move helps provide long term stability for our company and accommodates our plans for growth," said Preston Atkinson, Whataburger Restaurants, LP President and COO. "Purchasing this building is an important step in the process of moving our headquarters to San Antonio. We will begin moving into the building in June, and plan to have the transition complete by late summer."

The iconic Texas burger chain announced it was moving to San Antonio from Corpus Christi, Texas, in November 2008 after two years of researching solutions to address the company's growth and long-term viability. Whataburger reached $1 billion in annual sales for the first time in 2007 and expects the positive growth pattern to continue in the future.

San Antonio offered Whataburger the best combination of minimal impact from hurricanes, cost efficient office space for an expanding headquarters staff, ease of travel to the 10 states where the company has restaurants and a larger work force from which to recruit.

"We have always known that San Antonio offers much to corporations that choose to locate and do business here," said Mayor Phil Hardberger. "The good news of Whataburger moving its home office to San Antonio affirms that, and we are very pleased to welcome the Dobson Family and their great company to our community."

With nearly 60 restaurants and a division headquarters, Whataburger already has a strong presence and loyal fan following in San Antonio and surrounding areas.

"The City of San Antonio has given Whataburger a warm welcome and we're grateful for their support and assistance during this transition," Atkinson said. "We're looking forward to starting the next chapter of Whataburger's history here."

Of Whataburger's approximately 250 home office family members, more than 60 percent will relocate to San Antonio from Corpus Christi, with the remaining vacant positions filled locally. Interested job applicants in the San Antonio area can submit their resumes through www.whataburger.com.

"We are pleased to have Whataburger, an established South Texas company, as a new corporate citizen and partner in the San Antonio business community," said Randy Cain, Chairman of the San Antonio Economic Development Foundation Board of Directors. "The company's selection of San Antonio for its headquarter operations provides a tremendous multiplier effect and great potential for our community. We are glad they have found a home in San Antonio and stand ready to assist them as they grow their business."

The company plans to maintain its Learning Center facilities in Corpus Christi along with nearly 40 restaurants and 1,200+ team members in the Coastal Bend. A closing date for the Corpus Christi office has not yet been announced. The company will remain active in the Corpus Christi community through its support of Whataburger Field, Driscoll Children's Hospital, the Texas State Aquarium and the Art Museum of South Texas, among others.

Tesoro is the building's current occupant and leases it from current owners HDG Mansur. Tesoro plans to move into its new headquarters campus in Ridgewood Park near the intersection of U.S. Hwy. 281 and Loop 1604 in North San Antonio.

"We at HDG Mansur enjoyed our working relationship with the Tesoro team and appreciated the excellent care they took of our building. The opportunity to sell the building to Whataburger created a unique opportunity for all parties at an ideal time," said Rick Berk, HDG Mansur Managing Director & Head of Investment Management, U.S.

"This transaction allowed San Antonio to receive a phenomenal new corporate headquarters of a well known brand while simultaneously supporting Tesoro's plans to consolidate and expand its operations in their new facility. We wish both Whataburger and Tesoro continued success and hope to find further opportunities to acquire assets in the desirable area of San Antonio," said Berk.

Logos, product and company names mentioned are the property of their respective owners.

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