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San Antonio-New Braunfels

IBEX Global hiring 600 in San Antonio 

(11/25/2014 9:00:00 AM)

SAN ANTONIO - IBEX Global on Monday announced a new call center opening in San Antonio and will conduct a job fair for the site from 9 a.m. to 5 p.m. on Dec. 1 at 12449 Silicon Dr.

The center initially will hire 300 customer service and technical support agents in December to support a telecommunications client, with an additional 300 to be hired in February.

This is the tenth U.S. site for IBEX Global and the second in the area in the last two years.

Read more at the San Antonio Express-News.

Another good month for San Antonio job seekers 

(11/25/2014)

SAN ANTONIO - The San Antonio region’s unemployment rate came in at 4.6 percent for October, a slight drop from September’s 4.7 percent.

The dip, reported by the Federal Reserve Bank of Dallas, was the second consecutive monthly decline, as employers continued to quickly add jobs.

Non-seasonally adjusted regional data showed slight monthly growth in industries including trade, transportation and utilities, professional and business services, and education and health services.

Mining and logging, which includes jobs in oil and gas, shed jobs in the region, as did construction, manufacturing, and leisure and hospitality.

San Antonio’s seasonally adjusted jobless rate was consistent with declines seen in all of the state’s major metropolitan areas, with the McAllen-Edinburg-Mission area showing the largest drop — of 0.3 percentage point.

Read more at the San Antonio Express-News.

For more employment stats, see the Texas Workforce Commission and San Antonio Market Data Sources.

San Antonio: health care/biosciences industry eclipses $30B 

(11/24/2014 7:30:00 AM)

SAN ANTIONO - The economic impact of health care and the biosciences was $30.6 billion in 2013, up from $23.5 billion in 2012, according to a study by Trinity University professors Richard Butler and Mary Stefl.

More than 32 percent of the economic impact from health care and the biosciences is driven by the city's highly competitive hospital sector. Pharmaceutical, research and education activity accounts for another 21 percent of the estimated impact.

Employers in the health care/bioscience industry paid out nearly $8 billion in wages in 2013, according to the study. More than one in six San Antonio workers are employed by the industry.

In the last ten years, San Antonio's health care and biosciences industry has added more than 41,500 net new jobs — an increase of 40 percent.

Over the last decade, the economic impact from San Antonio's hospital sector has increased by 130 percent. That growth rate can be tied to a number of factors, including continued infrastructure expansion.

Methodist Healthcare, for example, has continued to invest in its infrastructure. The health care system and has begun work on a $250 million project that will involve the expansion of two of its South Texas Medical Center hospitals.

Read more at the San Antonio Business Journal.

74,000-SF data center opens in San Antonio’s Westover Hills 

(11/21/2014)

SAN ANTONIO - A new 74,000-sf data center has been opened by Stream Data Centers at 9550 Westover Hills Blvd. in Westover Hills on the far West Side.

The center is LEED Silver certified and is designed to withstand a 185 mile per hour tornado and other inclement weather.

The data center also has been equipped with other safety features, including backup generators and two electrical companies supplying power to its servers should one power source go down.

San Antonio is a good place to build a data center due to its stable weather, its educated workforce and dependable electric grid, according to Anthony Bolner, Stream's managing director.

Read more at the San Antonio Business Journal.

Calif. buy for San Antonio's The Estates at Canyon Ridge 

(11/21/2014)

SAN ANTONIO - FSC Realty has purchased The Estates at Canyon Ridge, a 270-condominium property in the Stone Oak community.

The Estates at Canyon Ridge, at 20614 Stone Oak Pkwy., is a 27-building complex on about 20 acres. Developed in 2007, the property is about two miles from the SH 281 and Loop 1604 interchange.

The property has units that are an average of 1,200 sf and feature direct garage access.

The purchase price of the condominium complex was not disclosed, but The Estates is appraised at $33.5 million, according to information from the Bexar County Appraisal District.

Read more at the San Antonio Business Journal.

Schertz Doerr Lane Industrial Park adding 214,000 SF 

(11/20/2014)

SCHERTZ - Conor Commercial Real Estate, a member of The McShane Cos., has acquired a 15-acre site just outside San Antonio for the development of Doerr Lane Industrial Park.

The 213,864-sf, Class A, facility is being developed near the intersection of Doerr Lane and Lockout Rd.

Doerr Lane Industrial Park will feature contemporary industrial space in a cross-dock configuration. The 32-foot clear facility will have expanded staging bays and an ESFR sprinkler system.

Distribution efficiencies are supported with the building’s 54 dock-high loading doors and two ramp-served doors.

The speculative development will be available for occupancy in the fourth quarter of 2015.

Read more at Globe St.

San Antonio housing market still going strong 

(11/20/2014)

SAN ANTONIO - The housing market isn’t slowing down — sales registered double-digit gains despite rising prices last month, according to data compiled by the San Antonio Board of Realtors.

In October, year-over-year, home sales climbed 16 percent — 1,863 homes sold in 2013 compared to 2,164 in 2014. The numbers have climbed every month from the previous year since February 2012.

The single-family home inventory dropped to 4.1 months of supply. Days on market also fell — dropping 11 percent to 62 days.

Among the current stock, more mid-range priced homes, $200,000 to $250,000, have been sold — amounting to 14.5 percent of all sales — than any other price range, according to SABOR numbers.

Second on the list are homes ranging from $300,000 to $400,000 — which made up 10.4 percent of sales.

Read more at the San Antonio Express-News.

Also see San Antonio area home sales Oct. 2014 SABOR.

REOC: San Antonio 3Q 2014 industrial 

(11/19/2014 6:45:00 AM)

SAN ANTONIO - According to the survey of more than 33 million sf of industrial lease space, the San Antonio industrial market closed third quarter with a citywide vacancy rate of 6.1 percent which is improved compared to 7.3 percent recorded in 3Q 2013.

Area industrial properties experienced 94,642 sf of positive net absorption in 3Q 2014 which raised the year-to-date total to 528,936 sf of net gain.

Rental rates for area industrial space continue to gain momentum in the wake of tightening supply. The citywide average quoted rental rate currently stands at $7.76 per sf per year on a triple net basis, which is up $0.22 or 2.9 percent compared to 3Q 2013.

Although no new speculative industrial projects were delivered to the market during 3Q 2014, there is more than 800,000 sf of industrial space currently under construction.

REOC San Antonio: 3Q 2014 Industrial*
All Types Citywide CBD Non-CBD
3Q 2014 3Q 2013 3Q 2014 3Q 2013 3Q 2014 3Q 2013
Inventory 33,427,213 32,347,757 233,395 233,395 33,193,818 32,114,362
Direct vacant 2,051,109 2,369,967 0 28,548 2,051,109 2,341,139
Vacant 6.1% 7.3% 0.0% 12.2% 6.2% 7.3%
Average rent $7.76 $7.54 N/A $3.60 $7.76 $7.57
3Q Absorption 94,642 316,485 0 0 94,642 316,485
YTD Absorption 528,936 1,146,329 28,548 11,912 500,388 1,134,417

*Statistics based on all multi-tenant industrial facilities 20,000 sf and larger excluding single-tenant, owner-occupied and government buildings.

For the full report see REOC San Antonio.

For more stats, see Industrial under San Antonio Market Data Sources.

San Antonio area home sales Oct. 2014 SABOR 

(11/19/2014)

SAN ANTONIO - San Antonio Board of Realtors (SABOR) released home sales data for October 2014. Some quick facts include:

•  The median price of existing single-family homes decreased to $165,000, down 4.6 percent versus September 2014.
•  Existing single-family home sales decreased 6.3 percent from September 2014 for an October 2014 total of 1,798 sold units.
•  Condos decreased in price to $96,250, down 6.1 percent versus September 2014.
•  Existing condo sales increased 7.1 percent in October 2014 from September 2014 for a total of 60 sold units.

Select region cities are represented below along with statistics from the SABOR MLS area as a whole.

SABOR Oct. 2014 Regional Sales and Price Activity
MLS Wide Median Price
Oct. 2014
Price Chg.
vs. 
Oct. 2013
Units Sold
Oct. 2014
Sales Chg.
vs. 
Oct. 2013
SABOR
(single-family)
$165,000 3.4% 1,798 11.7%
SABOR (condo) $96,250 -2.3% 60 33.3%
Region Cities*  
San Antonio $158,250 6.4% 1,220 10.8%
New Braunfels $201,000 11.7% 69 13.1%
Converse $127,400 9.4% 47 23.7%
Cibolo $180,900 2.1% 43 26.5%
Boerne $270,000 -5.1% 37 -9.8%
Schertz $178,500 8.2% 36 -16.3%
Canyon Lake $200,000 11.1% 28 47.4%
Helotes $255,000 11.4% 27 -28.9%

*Region Cities' data include single-family only and represents eight select cities sorted by number of units sold.

See Housing under San Antonio Market Data Sources.

Source: San Antonio Board of Realtors (SABOR)

Topgolf birdie flies 450 jobs to San Antonio 

(11/18/2014)

SAN ANTONIO - Topgolf expects to open its San Antonio entertainment attraction in late January and company officials say approximately 450 new jobs are up for grabs.

More than 1,500 people auditioned for a separate recent Topgolf facility opening.

Associates who are hired at the 65,000-sf facility will receive free games of golf, food and beverage discounts, the opportunity to participate in a 401(k) retirement savings program and other benefits.

A wide variety of jobs are available, including server, bartender, kitchen, maintenance and guest-services positions. Topgolf management will begin auditioning individuals for those positions next month.

Interested applicants can register at topgolf.com/careers to attend one of the upcoming recruitment events.

Read more at the San Antonio Business Journal.

REOC: San Antonio 3Q 2014 office 

(11/17/2014 8:00:00 AM)

SAN ANTONIO - According to REOC San Antonio's survey of more than 28.7 million sf of office lease space, new leases and expansions inked in third quarter were countered by tenant moves and consolidations which resulted in 7,480 sf of negative net absorption.

At the close of 3Q 2014, the citywide vacancy rate stood at 17.8 percent, up slightly compared to 17.5 percent in 2Q 2014 but improved compared to 18.8 percent recorded in 3Q 2013.

Rental rates softened slightly in 3Q 2014. The average quoted full-service rental rate for area office space now stands at $19.57 per sf per year on a full-service basis which is down $0.02 compared to 3Q 2013.

San Antonio 3Q 2014 Office Report*
All Classes Citywide CBD Non-CBD
3Q 2014 3Q 2013 3Q 2014 3Q 2013 3Q 2014 3Q 2013
Inventory 28,654,406 28,032,425 5,759,928 5,673,787 22,894,478 22,358,638
Direct vacant 5,102,223 5,278,320 1,547,330 1,681,997 3,554,893 3,596,323
Vacant 17.8% 18.8% 26.9% 29.6% 15.5% 16.1%
Average rent $19.57 $19.59 $19.11 $19.60 $19.64 $19.59
3Q absorption -7,480 13,874 2,456 -5,521 -9,936 19,395
YTD absorption 594,327 334,080 178,205 89,566 416,122 244,514

*Statistical information is calculated for multitenant office bldgs. 20,000 sf and larger (excluding single-tenant, owner-occupied, gov't and medical buildings).

For the full report see REOC San Antonio.

For more stats, see Office under San Antonio Market Data Sources.

Turner-Agassi lobs into 103,000-SF school in San Antonio 

(11/14/2014 6:15:00 AM)

SAN ANTONIO - Tennis star Andre Agassi was on hand as the Turner-Agassi Charter School Facilities Fund celebrated the opening of the KIPP San Antonio Commerce Campus.

The 103,000-sf campus has been converted from a big-box retail center that sits on seven acres in a dense residential neighborhood.

The campus enrolls more than 1,300 students a year, ranging from kindergarten through 2nd grade and 5th through 12th grade.

The campus consists of 70 classrooms, three computer labs and collaborative spaces for teachers. Space for student recreation, a gymnasium, a multipurpose room, an athletic field and an elementary school playground are also included.

It is the permanent home for two KIPP San Antonio schools and the first investment of the fund in the city.

The KIPP San Antonio Commerce Campus is located at 4343 W. Commerce St.

Read more at Multi-Housing News.

A new 'Dwell'ing place for North San Antonio residents 

(11/13/2014 7:45:00 AM)

SAN ANTONIO - Embrey Partners has broken ground on Dwell at Legacy — a 289-unit, Class A community that will be located in the center of the mixed-use development known as Legacy.

Units will range in size from 550 sf to 1,200 sf. Amenities for the community will include a Bark Park for pets and an infinity pool with cabanas.

Dwell at Legacy is located at the intersection of Loop 1604 and US-281. The project is being developed by Santikos Real Estate and is scheduled to open in June 2015.

Read more at the San Antonio Business Journal.

San Antonio’s Lockheed Martin lands $326M contract 

(11/12/2014 7:55:00 AM)

SAN ANTONIO - Tinker Air Force Base in Oklahoma has awarded a $325.8 million contract to San Antonio-based Lockheed Martin Commercial Engine Solutions, formerly known as Kelly Aviation Center, according to the U.S. Department of Defense.

The contract is for the overhaul and repair of the T56 engine and component parts. The work will be performed in the Alamo City and is expected to be completed by Nov. 5, 2017.

The T56 is a turboprop engine used in a number of aircraft, including the U.S. Air Force's C-130.

Lockheed Martin Commercial Engine Solutions is located at Port San Antonio, site of the former Kelly Air Force Base, on the city's Southwest Side.

Read more at the San Antonio Business Journal.

San Antonio: Bowlero strikes retro in 47,000 SF 

(11/12/2014)

SAN ANTONIO - The 47,000-sf Bowlero bowling alley, formerly AMF Country Lanes, has opened at 13307 San Pedro Ave. near the intersection of US Hwy. 281 and Bitters Rd.

The alley boasts a "retro-modern" style, which involves using reclaimed wood and metal among other materials and repurposing vintage items — such as an Airstream trailer converted to a snack bar at the alley chain's location in The Woodlands.

The new alley will feature a 1966 Mustang Convertible, said Colie Edison, vice president of marketing for Bowlmor AMF. The bar and shoe desks are built with raw metal and panels of reclaimed cargo containers.

The location will also have a full-service kitchen headed up by Edward Porter, the company's executive chef who won Food Network's "Guy's Grocery Games" cooking competition.

On the bowling side, there will be blacklight bowling and floor-to-ceiling video screens at the end of each lane. In addition, the space will include a gravity ropes course, billiards, shuffleboard and vintage arcade games among other attractions.

Read more at mySA.com.

Masters Ranch at The Valor Club now underway in San Antonio 

(11/11/2014 10:45:00 AM)

SAN ANTONIO - HomeSpring Realty Partners has broken ground on Masters Ranch at The Valor Club — a $30 million, 252-unit apartment community designed to accommodate tenants with disabilities — particularly veterans, who will have first priority to lease units in the complex.

Units in Masters Ranch will range in size from 745 sf to 1,187 sf. Apartments will be priced in the $662 to $970 range.

Masters Ranch will be part of The Valor Club at Pecan Valley — a multimillion-dollar plan by Foresight Golf LLC to redevelop the former Pecan Valley Golf Club.

In addition to the multifamily component, The Valor Club will also boast a fully accessible, nine-hole golf course tailored for wounded warriors and others with disabilities.

Also in the works for the master-planned development is The Valordome — a multi-sports arena that will provide Olympic- and Paralympic-style training and competition.

Masters Ranch is being developed via a joint venture between HomeSpring and the San Antonio Housing Trust Public Facility Corp.

Read more at the San Antonio Business Journal.

Family trust snaps up Bulverde Retail Park 

(11/11/2014)

BULVERDE - Davis Equity Realty sold the Bulverde Retail Park to a family trust for $3.96 million.

Positioned along Old Boerne Rd. in San Antonio's Comal County submarket, the 16,248-sf shopping center is currently leased to AutoZone, Cowboy Cleaners and Great Clips, among others.

Rates at Bulverde Retail Park start at $19 per sf, according to Davis Equity Realty.

Read more from CoStar Group.

Seguin: Spanish snack giant to open $58 million factory 

(11/11/2014)

SEGUIN - Grupo Siro, a food industry giant from Spain, plans to open a $58.5 million manufacturing plant and research center.

The production of cookies, pastries and other snacks by Siro Group USA should commence in 2016 at its new plant, which will employ 200.

The 275,000-sf plant will be built on 50 acres beside I-10 provided by the Seguin Economic Development Corp.

A research and development center, employing a dozen more workers, is slated to open by 2018 beside the plant.

The factory will be Siro Group’s first in the Americas but likely not its last, said Rut Aranda Carmona, the chief operating officer for the Madrid-based firm that has 19 factories, mostly in Spain, but also in Portugal and Italy.

H-E-B is currently the largest distributor in Texas of the firm's cookies, crackers and cakes.

Read more at the San Antonio Express-News.

San Antonio downtown SpringHill Suites flies Marriott flag 

(11/6/2014)

SAN ANTONIO - Peachtree Hotel Group is expanding its footprint. The Atlanta-based company will own and manage the rebranded 116-room SpringHill Suites by Marriott, scheduled to open this week on South Saint Mary's St.

The property offers suites that are larger than typical hotel rooms, with separate living and sleeping areas.

The hotel will have a full-service bar and lounge area as well as 2,400 sf of meeting space that can accommodate up to 100 people.

The property was previously branded Fiesta Suites San Antonio Riverwalk.

Read more at the San Antonio Business Journal.

San Antonio The Brackenridge at MidTown opens 

(11/5/2014 6:00:00 AM)

SAN ANTONIO - Embrey Partners recently opened The Brackenridge at MidTown, a multi-story apartment complex at 223 Brackenridge.

Replacing a decades-old complex near Joint Base San Antonio-Fort Sam Houston, The Brackenridge sits close to The Do Seum, the new San Antonio Children's Museum set to open next year.

The Brackenridge at MidTown is a $32 million community with 282 units, a clubhouse, pool, dog park and a fitness center. Monthly rent ranges from $955 to $2,165

As of last week, Embrey had finished 211 units with the rest slated for completion in December.

Read more at MySA.com.

San Antonio to fill 50 heavy equipment jobs 

(11/5/2014)

SAN ANTONIO - The City of San Antonio is looking to hire 50 people with experience in heavy equipment to work in the Solid Waste Management Department.

The city is hosting a job fair on Saturday, Nov. 15 from 9 a.m. to 1 p.m. at the Callaghan Service Center at 110 S. Callaghan Rd.

The city is looking to hire senior equipment operators, heavy equipment mechanics and side loader equipment operators.

Applicants with a commercial driver's license or experience as a diesel mechanic or heavy equipment operator are encouraged to stop by.

Read more at the San Antonio Business Journal.

Grow Texas: San Antonio by the numbers 

(11/4/2014 6:40:00 AM)

SAN ANTONIO - As of 2014, San Antonio's population is 1,335,287 people. Since 2000, the population has grown by 11.1 percent.

The median home cost in San Antonio is $154,300. Homes have appreciated 6.8 percent in the last year.

Compared to the rest of the country, San Antonio's cost of living is 7.7 percent lower than the U.S. average.

San Antonio public schools spend $10,488 per student. The U.S. average is $12,435. There are about 15.1 students per teacher in San Antonio.

The unemployment rate in San Antonio is 4.3 percent. The U.S. average is 6.3 percent.

JUST THE FACTS
Median resident age: 32.7 years
Household Size: 2.7
Est. Household Income: $50,075
Median Home Price: $154,300
Homes Owned: 51.2%
Home Appreciation: 6.80%
Family Households: 66.3%
Married Population: 47.2%
Single Population: 52.8%
College Education: 26.5%
Commute Time: 23 mins.

SOURCE: www.city-data.com

Read more at the San Antonio Business Journal.

Southwest daily flights start San Antonio to Mexico City 

(11/3/2014)

SAN ANTONIO - Southwest Airlines has completed its first direct flight from San Antonio to Mexico City.

The route, which was previously operated by AirTran Airways, will depart once daily from San Antonio International Airport at 11:45 a.m. and maintain one arrival at 6:15 p.m. daily from Mexico City.

Southwest Airlines inherited the new international route with the completion of its merger with AirTran.

AirTran began offering direct flights from San Antonio to Juarez International Airport in Mexico City in 2012.

Read more at the San Antonio Business Journal.

Market Square restaurant group boosting staff by 100 

(11/3/2014)

SAN ANTONIO - The Cortez Family of Restaurants is looking to boost its staffing levels by 100 for the upcoming holiday season.

The company is hosting a job fair on Nov. 5 from 2-7 p.m. at La Margarita's restaurant in Market Square.

The Cortez Family of Restaurants includes Mi Tierra Cafe, Pico de Gallo, La Margarita, Mariachi Bar, and opening in the spring 2015, Viva Villa.

All are located in downtown San Antonio in the historic Market Square, except for Pico de Gallo which is located on S. Leona St., across from the downtown UTSA campus.

Read more at the San Antonio Business Journal.

Veteran retirees: San Antonio prime landing zone  

(10/31/2014 9:14:00 AM)

SAN ANTONIO - A new study confirms that San Antonio, often called Military City, U.S.A., is a prime landing zone for troops and veterans parachuting into civilian lives.

The study listed San Antonio as the best in the nation for military retirees, beating out Washington, D.C., Virginia and San Diego.

USAA and Hiring Our Heroes, a U.S. Chamber of Commerce Foundation program, commissioned the study through Sperling's Best Places to work and Syracuse University's Institute for Veterans and Military Families.

The survey ranked cities in 379 U.S. metro areas. The city was ranked as one of the best cities for veterans who leave the military in mid-career, and for those who retire from the armed services.

Houston was No. 1 for troops leaving the military during the middle of their careers, while Austin was No. 2 for retirees.

The study looked at such things as the proximity of installations to veterans, the presence of a VA hospitals and health resources, government and civilian jobs, opportunities to leverage post-9/11 education benefits and military pension taxation.

Top Five Cities for Military Retirees
Location Population Median
Home Price
Unemployment Local Employers
1. San Antonio, Tex. 2,149,153 $131,200 6.0% USAA
Union Pacific
2. Austin, Tex. 1,731,777 $201,400 5.2% Golfsmith
Green Mountain Energy
3. Madison, Wis. 570,687 $198,500 4.8% Schneider Assoc
Alliant Energy
4. Harrisburg, Pa. 548,996 $154,100 6.5% IBM
Rite Aid
5. Cincinnati, Ohio 2,129,745 $129,200 7.1% Macy's
GE


See the full report at PRWeb.

Read more at the Houston Chronicle.

San Antonio universities ranked among best in state 

(10/31/2014 9:00:00 AM)

SAN ANTONIO - Trinity University was ranked as the second best four-year college in Texas by College Factual.

The website, which seeks to help parents and students choose the best universities around the country, compiled a list of the state's top 60 four-year colleges based on factors such as graduation rates, high salaries for graduates and low student loan default rates.

St. Mary's University ranked in the top 20, coming in at No. 11. Texas Lutheran University in Seguin was ranked No. 22, University of the Incarnate Word was ranked at No. 30 and the University of Texas at San Antonio was No. 49.

Top Ten Universities in Texas
School Math+Reading
SAT score
Freshman
Retention
Graduation
Rate
Full-Time
Teachers
Student Loan
Default Rate
Starting Career
Income Boost
1. Rice University, Houston 1,460 96.0% 92.4% 81.1% 3.0% $4,649
2. Trinity University, SA 1,260 89.0% 79.6% 80.1% 3.0% $2,894
3. Southern Methodist
    University, Dallas
1,305 90.0% 79.6% 62.6% 7.0% $4,050
4. The University
    of Texas, Austin
1,260 93.0% 78.7% 83.3% 6.0% $3,955
5. Southwestern
    University, Georgetown
1,170 86.0% 75.4% 98.4% 5.0% $2,032
6. Texas Christian
    University, Fort Worth
1,180 90.0% 75.2% 71.6% 6.0% $3,093
7. Texas A&M
    University, College Station
1,180 92.0% 79.6% 90.6% 6.0% N/A
8. Baylor University, Waco 1,225 87.0% 74.6% 79.9% 7.0% $2,484
9. Austin College, Sherman 1,215 77.0% 76.8% 76.4% 5.0% $459
10. University of Dallas, Dallas 1,210 80.0% 68.9% 59.5% 4.0% N/A


Source: CollegeFactual.com

Read more at the San Antonio Business Journal.

Tractor Supply deepens Seguin roots in 75,000 SF  

(10/30/2014 10:00:00 AM)

SEGUIN - Tractor Supply will construct a new 75,000-sf regional distribution center on 13 acres near Strempel Rd. and SH 123. Construction is expected to begin in 2014.

The facility is expected to create 19 new jobs and more than $8 million in new capital investment

"We are excited about Tractor Supply's decision to locate their Distribution Center in Seguin," said Terry Trevino, executive director of the Seguin Economic Development Corporation, "Tractor Supply has been in Seguin for 17 years since 1997, the addition of the Distribution Center further demonstrates that Seguin is well positioned for growth."

Read more at Fox 29 and the Seguin Gazette.

Listen to Podcast 233 for this story and more.

San Antonio College: Scobee planetarium meets the Challenger 

(10/30/2014)

SAN ANTONIO - It's all systems go at San Antonio College’s Scobee Education Center. The Scobee Education Center is a state-of-the-art 22,000-sf facility, combining the Scobee Planetarium with the world's newest Challenger Learning Center.

The project, which broke ground in May 2012, included extensive remodeling and expansion of the Scobee Planetarium and Observatory, which has been a San Antonio College staple for more than 50 years.

The core of the Challenger Learning Center is an interactive computerized simulator with a Mission Control room and an orbiting Space Station. The facility gives students an opportunity to become astronauts and engineers through space simulation and role playing.

The center joins a network of more than 40 Challenger Learning Centers throughout the United States, Canada, the United Kingdom and South Korea.

SAC's Scobee Education Center is named for Francis "Dick" Scobee, flight commander of the ill-fated Challenger mission. Scobee attended San Antonio College while stationed at Kelly Air Force Base in the early 1960s.

Read more at the San Antonio Business Journal.

San Antonio's East Kelly Railport hauls in record growth 

(10/30/2014)

SAN ANTONIO - The 350-acre Port San Antonio East Kelly Railport set a new record during fiscal year (FY) 2014 by handling nearly 10,000 railcars.

Logistics service providers at East Kelly Railport processed 9,983 railcars in FY 2014 — an increase over the 9,693 railcars handled in FY 2013.

About two-thirds of the products shipped were sand, pipe and equipment that arrives by train and transferred onto trucks for delivery to well sites throughout the shale-producing region.

The railport has direct access to tracks owned by Union Pacific Railroad and BNSF Railway. East Kelly has the loading and unloading capabilities at Port San Antonio to ship cargo in the energy, retail, construction and manufacturing industries.

The Eagle Ford Shale is a 21-county geological formation that crisscrosses a wide swath of Southwest Texas. A recent report pegged the economic contribution in the Eagle Ford region to Texas at $87 billion.

Producers in this region are directly responsible for supporting 155,000 full-time jobs.

Read more at the San Antonio Business Journal.

Alamo City apartment sector strikes balance: supply, demand 

(10/28/2014 6:45:00 AM)

SAN ANTONIO - There's been no lack of new product in the local multifamily sector. Developers are moving quickly in an effort to capitalize on the city's economic and demographic growth.

By the time 2014 ends, another 6,400 units are slated to enter the market — the highest annual completion total in five years, according to Apartment Research Market Report Second Quarter by Marcus & Millichap.

Here is a look at some of the apartment projects underway in San Antonio.

San Antonio Multifamily Update
Facility Units Location
Balcones Lofts 84 Intersection of Loop 410,
I-10 and Fredericksburg Rd.
The San Miguel (renov.) 330 5202 Texana Dr.
1130 Broadway 290 1130 Broadway
Aviator at Brooks
City Base
280 Brooks City Base
The Lookout at
Comanche Hill
150 Nacogdoches Rd. near
Comanche Lookout Park


Read more at the San Antonio Business Journal.

Fort Sam Houston lights up the world with these suites! 

(10/28/2014)

JOINT BASE SAN ANTONIO - The new 153,685-sf, 310-suite Candlewood Suites has opened at Joint Base San Antonio-Fort Sam Houston. The hotel is the largest Candlewood Suites in the world.

Each room comes equipped with a kitchen, an oversized work area and full bathroom. The hotel's amenities include:

•  a swimming pool with patio pavilion,
•  business and fitness centers,
•  guest laundry facilities,
•  a breakfast bar, and
•  on-post shuttle services.

The hotel had to meet stringent military base structural requirements for collapse and blast impact standards.

Read more at the San Antonio Business Journal.

DPT Laboratories renews 60,000 SF in San Antonio 

(10/28/2014)

SAN ANTONIO - DPT Laboratories, a pharmaceutical development and manufacturing organization, signed a two-year lease renewal for 60,000 sf in the industrial building at 5303-5305 Distribution Dr.

The single-story, 106,700-sf facility was completed in 1976 and is partially leased to Team Express Distributing.

Known as Distribution Drive Center, the facility is part of the approximately 22-building Rittiman East Industrial Park in Northeast San Antonio.

Read more at CoStar Group.

Carrizo plays shale with $250 million 

(10/28/2014)

SAN ANTONIO - Carrizo Oil & Gas Inc. bought leasehold and producing interests in the Eagle Ford Shale from Texas-based Eagle Ford Minerals LLC for $250 million in cash.

The deal includes 6,820 net acres, primarily in LaSalle, Atascosa and McMullen counties.

Net production is approximately 2,670 barrels of oil equivalent per day, 85 percent of which is oil, from 81 gross wells. Carrizo estimates the assets' net proved reserves at 16.7 million barrels of oil equivalent, of which 82 percent is oil and 34 percent is developed.

Carrizo paid approximately $93 million when the deal closed October 24 and will pay the remaining $150 million by February 16, 2015.

Read more at the San Antonio Business Journal.

O'Connor: San Antonio apartment overview Oct. 2014 

(10/28/2014)

SAN ANTONIO - Apartment data for October 2014 have been provided by O'Connor and Associates. Below is a portion of what's available.

San Antonio Apartment Overview Oct. 2014
Property/Unit Data Class A Class B Class C Overall
Total number units 53,402 53,296 42,400 157,549
Avg. SF 918.84 801.16 802.68 831.27
Avg. physical occupancy 91.36% 92.36% 89.81% 91.12%
Avg. preleased occupancy 92.63% 93.73% 90.70% 92.24%
Avg. market rent/SF $1.12 $0.93 $0.88 $0.96
Avg. market rent/unit $1,012.06 $719.60 $679.92 $780.59


Click here to see San Antonio Apartment Data Overview Oct. 2014.

See more apartment data at O'Connor and Associates.

Also see Multifamily in San Antonio Market Data Sources.

San Antonio's $13.4 billion hospitality industry 

(10/27/2014)

SAN ANTONIO - The hospitality industry employs nearly 125,000 people and pumps an estimated $13.4 billion into the San Antonio economy annually, up from a record $12.2 billion set in 2012, according to a Trinity University study.

Trinity professors Richard Butler and Mary Stefl found that, of the total $13.4 billion that the hospitality industry generates for the local economy, nearly $350 million ends up in the city's and county's coffers.

The study reveals 122,500 local residents — or one in eight San Antonians — work in the travel and tourism sectors, which span hotels, taxis, theme parks, museums and more. Their annual payroll exceeds $2.49 billion, an increase from $2.23 billion in 2011 when about 112,500 employees worked in the industry.

An estimated 31 million people visit San Antonio each year, with 24.9 million of them traveling to the city for leisure.

Read more at the MySA.com.

Memory Care America to Westover Hills in San Antonio 

(10/27/2014)

SAN ANTONIO - Memory Care America and Embree Healthcare Group are set to break ground on Memory Care of Westover Hills, a 64-bed facility that will care for residents with Alzheimer's and dementia.

Construction on the 45,370-sf facility will cost $8.5 million, according to the Texas Department of Licensing and Regulation. Memory Care of Westover Hills will be located at 10910 Town Center Dr.

Residents are expected to move in during fall 2015.

Read more at the San Antonio Business Journal.

UTSA freshman class is one of the largest 

(10/27/2014)

SAN ANTONIO - The University of Texas at San Antonio enrolled nearly 5,000 new students for fall 2014, making the freshman class one of the largest in the school's history.

UTSA receives approximately 15,000 fall semester applications each year — admission was offered to about 60 percent of them. The school has steadily increased its admission standards in recent years.

This year, nearly 60 percent of incoming students graduated in the top quartile of their high school. That compares to just 38 percent who did so just five years ago.

UTSA's total enrollment, according to the fall 2014 Census Day Report, is 28,628.

Read more at the San Antonio Business Journal.

Robstown building $5 million city hall 

(10/27/2014)

ROBSTOWN, NUECES COUNTY - The City of Robstown is constructing a new 17,500-sf city hall facility to house city utility departments, council chambers, and the municipal court.

The New City Hall will also be used at the Emergency Operations Center. The building will have a backup generator and it will implement green features into the design.

The project will cost nearly $5 million according to the Texas Department of Licensing and Regulation.

Robstown officials expect to move into the facility by May 2015.

Read more at KiiiTV.

Walmart to hire 95 at new San Antonio Neighborhood Market 

(10/23/2014)

SAN ANTONIO - Walmart will hire nearly 100 individuals to work at the company's new San Antonio Walmart Neighborhood Market that will open later this winter.

Hiring managers at the new store at the intersection of Nacogdoches Rd. and MacArthur View will honor Walmart's national commitment to offer a job to any qualified veteran who has been honorably discharged within the past 12 months.

Store Manager Daniel Zamora said in a news release that the store will be hiring both full- and part-time workers who will help get the store ready in time for its January 2015 opening.

Read more at the San Antonio Business Journal.

San Antonio: EastGroup's three distribution properties 3Q 

(10/23/2014)

San Antonio - Here's an update on three business distribution projects underway by EastGroup, according to SEC filings.

During the first nine months 2014, EastGroup began construction of 15 development projects containing 1.24 million sf with a projected total investment of $88.9 million.

The developments are located in Houston, San Antonio, Charlotte, Phoenix, Orlando and Tampa.

San Antonio Development Properties Started in 2014
Property Size (SF) Actual or
Projected
Completion
Projected
Total
Costs
Alamo Ridge I 96,000 12/2014 $6,500,000
Alamo Ridge II 62,000 12/2014 $4,100,000
Thousand Oaks 4 66,000 03/2015 $5,100,000
Totals 224,000 - $15,700,000


Source: SEC filings

See Houston: EastGroup distribution projects 3Q 2014 SEC for details on Houston projects.

Balcones Lofts may spark revitalization with 84-unit complex 

(10/22/2014)

BALCONES HEIGHTS, BEXAR COUNTY - Construction crews are set to break ground this week on Balcones Lofts, an 84-unit mixed-use development.

Balcones Lofts will be built with a community center and will have more than 3,500 sf for retail or commercial development to attract more businesses to the city.

Balcones Lofts is being developed as a partnership between The NRP Group, the City of Balcones Heights and Bexar County with an eventual goal of spurring additional economic development in the city.

The $11.9 million property will be located within walking distance of VIA Metropolitan Transit's VIA Primo bus rapid transit service.

Balcones Heights is located at the intersection of Loop 410, I-10 and Fredericksburg Rd.

Read more at the San Antonio Business Journal.

San Antonio: The Heights at Midcrown sold near Rackspace 

(10/21/2014 8:30:00 AM)

SAN ANTONIO - The Heights at Midcrown, a 208-unit apartment complex located at 8000 Midcrown in Northeast San Antonio has been sold. The PPA Group was the buyer.

The community offers one-, two- and three-bedroom units that range in size from 612 sf to 1,094 sf and in price from $525 to $810.

PPA plans to renovate some of the units in The Heights and add some new community perks. The Heights is located near one of the city's most prominent employers — Rackspace Hosting.

The Northeast Side submarket is familiar territory for PPA. In April, the firm announced plans to build a new complex called The Lookout at Comanche Hill.

PPA is also part of the team behind a new multifamily community known as the Aviator at Brooks City Base.

Read more at the San Antonio Business Journal.

Skyonic opens new carbon capture plant in San Antonio 

(10/21/2014)

SAN ANTONIO - Skyonic will unveil its new carbon capture plant today, next to the Capitol Aggregates cement plant.

Austin-based Skyonic developed a technology that captures and reuses industrial air emissions. The new SkyMine plant will use electricity to turn carbon emissions into baking soda, bleach and hydrochloric acid which will then be sold commercially.

The $125 million SkyMine plant was funded in part by a grant from the U.S. Department of Energy with a match from Capitol Aggregates' parent, San Antonio-based Zachry Corp.

It is expected to have a total carbon impact of 300,000 tons annually and generate $48 million in revenue and $28 million in annual earnings. The company already has five and ten-year contracts in place for the sale of the products.

The new plant employs 44 full-time workers.

Read more at the San Antonio Business Journal.

SABOR: area home sales Sept. 2014 

(10/20/2014 8:00:00 AM)

SAN ANTONIO - San Antonio Board of Realtors (SABOR) released home sales data for September 2014. Some quick facts include:

•  The median price of existing single-family homes decreased to $173,000, down .7 percent versus August 2014.
•  Existing single-family home sales decreased 12.5 percent from August 2014 for a September 2014 total of 1,865 sold units.
•  Condos decreased in price to $100,000, down 8.7 percent versus August 2014.
•  Existing condo sales decreased 38.2 percent in September 2014 from August 2014 for a total of 55 sold units.

Select region cities are represented below along with statistics from the SABOR MLS area as a whole.

SABOR Sept. 2014 Regional Sales and Price Activity
MLS Wide Median Price
Sept. 2014
Price Chg.
vs. Sept. 2013
Units Sold
Sept. 2014
Sales Chg.
vs. Sept. 2013
SABOR
(single-family)
$173,800 8.6% 1,865 6.7%
SABOR (condo) $100,000 -6.1% 55 3.8%
Region Cities*  
San Antonio $160,750 7.2% 1,289 8.1%
New Braunfels $199,900 12.3% 61 -28.2%
Converse $124,000 12.3% 57 58.3%
Boerne $319,500 7.2% 49 19.5%
Schertz $178,750 4.8% 42 16.7%
Cibolo $194,000 4.3% 37 8.8%
Helotes $245,000 -7.5% 33 -5.7%
Canyon Lake $198,000 -2.2% 31 -3.1%

*Region Cities' data include single-family only and represents eight select cities sorted by number of units sold.

See Housing under San Antonio Market Data Sources.

Source: San Antonio Board of Realtors (SABOR) as of October 10, 2014.

Sold: San Antonio's 279,000-SF Sunset Ridge in Alamo Heights 

(10/20/2014 7:40:00 AM)

SAN ANTONIO - Philadelphia-based Resource Real Estate has purchased Sunset Ridge, the 41-building apartment community in Alamo Heights, from Austin-based SV Alamo Heights, according to CBRE.

The cluster of two-story buildings totals 279,026 sf and is located at 116 Vanderheck Rd., just north of the McNay Art Museum.

The two-story buildings were constructed in 1949.

Read more at the San Antonio Business Journal.

San Antonio spying: NSA jobs to grow by 1,000-plus jobs 

(10/17/2014 11:00:00 AM)

SAN ANTONIO - San Antonio will gain over 1,000 cybersecurity jobs over the next few years, according to Admiral Michael Rogers, director of the National Security Agency and commander of U.S. Cyber Command.

The military is growing a force of about 6,200 people to support its cybersecurity efforts through 2016-17 and a substantial segment of that growth will occur in San Antonio with the expansion of the 24th and 25th Air Forces.

The mission is critical because the potential cost to the nation from cyber attacks on critical infrastructure would reach into the hundreds of billions of dollars.

Read more at the San Antonio Business Journal.

San Antonio: 900,000 SF for Dollar General; 530 jobs 

(10/17/2014 10:44:00 AM)

SAN ANTONIO - Dollar General is building a 900,000-sf distribution center that will employ 530 people once the facility is open.

The center will serve more than 1,000 stores in Texas and the surrounding region. The Tennessee-based retailer will begin hiring people in the summer of 2015 and operations will begin next October.

The distribution center will be built on 110 acres at South Foster Industrial Park.

Dollar General currently has 61 stores in the San Antonio area that collectively employ 460 workers.

Read more at the San Antonio Business Journal.

San Antonio: more homes bought, being built 

(10/17/2014)

SAN ANTONIO - Single-home sales and construction continued on their climb last month, according to San Antonio Board of Realtors (SABOR). “Consumer confidence is very prevalent right now,” SABOR President and CEO Angela Shields said.

In September, 2,280 single-family homes were sold, a 13.7 percent jump compared with September 2013, when 2,005 homes were sold. The September figure is lower than August, when 2,468 homes were sold.

The median home price jumped 9.4 percent from $168,800 in September 2013 to $184,700 last month.

SABOR's research also showed that in September more homes in the $200,000 to $500,000 range were sold, accounting for 39.4 percent of total sales, or 5.4 percent more than in September 2013.

Houses priced at less than $200,000 made up 56.1 percent of total sales last month — a 6 percent decrease from September 2013.

The average number of days that houses sold in September sat on the market was 63, six fewer than September 2013.

Read more at the San Antonio Express-News. See more SABOR stats at NewsTalk Texas.

Home is where the Heartis in San Antonio 

(10/16/2014)

SAN ANTONIO - Dallas-based Caddis Partners plans to develop a 101-unit assisted-living and memory care complex in far North Central San Antonio near Huebner Rd. and Churchill Estates Blvd.

The Texas Department of Licensing and Regulation shows that the 86,000-sf development will cost $12.3 million to construct.

The facility will be branded as Heartis San Antonio and will house 77 assisted-living units and 24 secured memory-care units.

The project will be operated by Frontier Management and construction is slated to begin in November.

Read more at the San Antonio Business Journal.

Walmart shopping Devine and Universal City 

(10/16/2014)

DEVINE, UNIVERSAL CITY - A 126,000-sf Walmart Supercenter has opened its doors at 175 I-35 North in Devine. The estimated cost of construction was $7.3 million, according to state filings.

The store will create approximately 200 full- and part-time jobs.

In Universal City, Walmart will also start construction on a $13.5 million store and gas station at 510 Kitty Hawk Rd. Universal City will land its first Walmart store sometime in 2016.
 

Read more at the San Antonio Express-News.

Listen to Podcast 213 for this story and more.

San Antonio outpost: Forest Park $98M, 150,000-SF hospital 

(10/14/2014)

SAN ANTONIO - Dallas-based Forest Park Medical Center has opened its $98 million San Antonio facility.

The 150,000-sf hospital, built by the Neal Richards Group, has 12 operating suites, a cardiac catheterization lab, 54 private inpatient rooms, six intensive care rooms, and full ancillary services.

The physician-owned hospital system launched its flagship location in North Dallas five years ago. It has since opened medical centers in Frisco and Southlake and has others under construction in Austin and Fort Worth.

Read more at D Healthcare Daily.

Nissan of Boerne dealership brings hi-tech in 60,000 SF 

(10/9/2014)

BOERNE - The new 60,000-sf Nissan of Boerne dealership has opened its doors at 31805 I-10 West. The estimated cost of construction was $7 million, according to state filings.

Nissan of Boerne, the largest Nissan dealership in Texas, will create over 100 new jobs, according to owner Umer Khawaja.

The dealership offers 33 state-of-the-art service bays. The dealership offers complimentary amenities including shuttle service; loaner cars; guest WiFi; refreshments; a very comfortable guest lounge and a fun play area for children.

Dealership will serve San Antonio and the surrounding communities of New Braunfels, San Marcos, Bandera, Kerrville, Fredericksburg and Hondo.

Read more at PRNewswire.

Listen to Podcast 230 for this story and more.

San Antonio re-ups cybersecurity veterans' bootcamp 

(10/8/2014 5:14:00 AM)

SAN ANTONIO - The San Antonio Chamber of Commerce is planning to re-up an entrepreneurial bootcamp for military veterans that has proved to be a success after its first year.

The program, which is free, launched in March with a goal of encouraging more military veterans preparing to leave the service to consider becoming entrepreneurs.

It has focused on the cybersecurity field because that is where many local veterans have gained valuable experience working with the 24th Air Force Cyber Command.

So far, the program has attracted 26 veterans and has seen two spinoff companies in various stages of development, including the new cybersecurity firm Infocyte.

The bootcamp consists of four quarterly programs with the first one focused on business strategy and planning, the second on business financing, the third on sales and marketing strategies and the final session on human resources.

Locations for the sessions rotate between various sponsor companies in the San Antonio area.

Read more at the San Antonio Business Journal.

See previous story San Antonio cyber bootcamps seek military officers.

San Antonio International adds nonstop flights to Miami 

(10/6/2014)

SAN ANTONIO - American Airlines is expanding its service from San Antonio International Airport to Miami International.

The carrier will begin offering daily nonstop flights to South Florida in March. American Airlines will use Boeing 737- 800 aircraft for its daily round-trip service between San Antonio and Miami.

Flights will depart San Antonio in the morning and return to the Alamo City in the evening.

Read more at the San Antonio Business Journal.

San Antonio Canyon Springs Golf Club swings with other clubs 

(10/6/2014)

SAN ANTONIO - Canyon Springs Golf Club is among the properties that have been acquired by Arcis Equity Partners LLC in an acquisition of 46 golf properties from CNL Lifestyle Properties Inc.

Arcis, which is based in Irving, Texas, has agreed to pay $306.5 million for the properties.

It is also expected to acquire two additional golf properties at a cost of $13.5 million.

Read more at the San Antonio Business Journal.

Tundra Bass Pro Shops trucks roll out of Toyota San Antonio 

(10/3/2014 9:00:00 AM)

SAN ANTONIO - Toyota, which hopes to capture a larger slice of the pickup truck market, is hitching its Tundra to the Bass Pro Shops brand.

The automaker has unveiled a new 2015 Toyota Tundra Bass Pro Shops Off-Road Edition truck that is manufactured on San Antonio’s South Side and will be available in several U.S. states.

The special edition Tundra will be available for purchase at Toyota dealerships in the Gulf States Region — which includes Texas, Arkansas, Louisiana, Mississippi and Oklahoma — beginning in October.

Consumers who purchase the vehicle will receive their choice of a special fishing, hunting, camping or marine outdoor gear lifestyle package from Bass Pro Shops valued at approximately $1,000.

The new trucks, available exclusively in silver, feature a 4x4 CrewMax SR5 configuration, which offers extra space for outdoor gear. It also includes a tow package that allows drivers to haul boats, ATVs or UTVs (utility task vehicles).

See Bass Pro Shops for a peek.

Read more at the San Antonio Business Journal.

San Antonio crude talks in the Eagle Ford Shale 

(10/3/2014)

SAN ANTONIO AREA - The Center for Community and Business Research at the University of Texas at San Antonio’s Institute for Economic Development has released its 2014 economic impact report of the Eagle Ford Shale.

Overall, the 21-county area studied in the report is expected to increase regional economic output by 61 percent by 2023.

Economic Output by County
County 2013* 2023*
Nueces $11,830,469,550 $24,313,461,300
Karnes $10,964,709,282 $16,752,660,184
La Salle $9,001,341,991 $13,574,778,927
Dimmit $8,552,982,031 $12,341,837,612
McMullen $8,276,163,149 $12,518,235,902
Gonzales $7,463,132,427 $11,369,005,382
Live Oak $6,954,129,494 $8,646,546,519
Webb $5,008,394,112 $7,051,104,091
DeWitt $4,947,708,860 $7,288,946,345
Atascosa $3,309,321,673 $5,888,831,097
Bexar $3,238,996,650 $4,400,871,930
Lavaca $1,607,274,019 $2,661,190,775
Wilson $1,444,745,649 $2,109,895,697
Total 21-county area** $85,362,339,892 $135,024,683,617

*Includes direct, indirect, and induced impacts.
**The summation of the individual counties impacts is smaller than when the impacts are taken for the group as a whole.
Bolded counties are in the San Antonio Area.

Counties counted in the San Antonio Area that fall below $1 billion in the full report include

Frio County: 2013 – $685 million
Uvalde County: 2013 – $107 million

See the full report here.

See Market Overview under San Antonio Market Data Sources for more easy to find data.

Sold: 246-unit Marquis at Rogers's Ranch in San Antonio 

(10/2/2014 6:45:00 AM)

SAN ANTONIO - California-based MIG Real Estate has completed its acquisition of The Marquis at Roger’s Ranch, a 246-unit apartment community in northwest San Antonio.

The Marquis at Roger’s Ranch is located at 2727 Treble Creek, just off Loop 1604 between the master-planned developments of Stone Oak and La Cantera.

The multifamily community consists of 14 two- and three-story buildings with one-, two- and three-bedroom floor plans, as well as two-story townhome units.

Read more at the San Antonio Business Journal.

San Antonio: Austin Investor Interests 2Q 2014 apartments 

(10/1/2014 7:00:00 AM)

SAN ANTONIO - As expected, the second quarter 2014 was solid for the local apartment market, according to Austin Investor Interests.

Occupancy rates increased .29 percent, while effective rental rates increased 1.34 percent, finally breaking the $1-per-sf mark. Absorption levels have remained robust, with over 4,700 more units occupied than at midyear 2013.

New construction is faring especially well, as stabilized Class A units are showing an overall occupancy rate of over 94 percent, with rental rates at $1.20 per sf.

Sales activity increased, pushing up the average price of Class A property sales to a record high of almost $96,000.

It seems the only area that is showing any signs of slowing is the student-housing sector. Potential builders of future student projects have taken a step back to see how the latest wave is received. There are three on track to open for the fall semester.

Just the Facts 2Q 2014
Avg. occupancy 91.8%
Avg. rent $836
Avg. SF 832
Avg. $/SF $1.00
New units added
(conventional)
1,145
Avg. sales
price/unit
$95,674


2Q 2014 Affordable Housing Stats:
21,892 Units — 95.3% — $.80 per sf

2Q 2014 Student Housing Stats:
2,385 Units — 94.4% — $1.25 per sf

Source: Austin Investor Interests

Click here to see the full 2Q 2014 San Antonio Multifamily Trend Report, courtesy of Robin Davis.

Shale play fueling a manufactured-housing boom 

(9/29/2014)

SAN ANTONIO - The manufactured housing market is booming, according to the latest Manufactured Housing Research Report by Marcus & Millichap.

The demand for manufactured homes is on the rise — as a result of such factors as rising home prices and increased job creation. Retiring Baby Boomers looking to get a second home — often in a warmer climate — are fueling the demand for this housing product as well.

Oil and gas plays like the Barnett Shale in North Texas and the Eagle Ford Shale in South Texas are also pumping up demand for manufactured housing.

But it’s not just would-be residents that are seeking manufactured housing communities. These neighborhoods are a hot commodity among investors too — including real estate investment trusts (REITs), insurance companies and equity funds.

Read more at the San Antonio Business Journal.

Wheatley Housing revitalization to East San Antonio 

(9/25/2014 9:00:00 AM)

SAN ANTONIO - The San Antonio Housing Authority (SAHA) has started the demolition of the Wheatley Courts housing project at 906 N. Mittman St. on the city’s East Side.

The property is being demolished to make room for a new 417-unit, mixed-income community.

This complex will be a major component of the Wheatley Transformation Plan that has been designed to bring quality housing, education, employment, health care and economic development opportunities to the East Side.

SAHA received nearly $30 million in December 2012 from the U.S. Department of Housing and Urban Development (HUD) for the Wheatley revitalization.

Read more at the San Antonio Business Journal.

Calif. investor sells 559 Class B units in San Antonio 

(9/25/2014 7:01:00 AM)

SAN ANTONIO - The 327-unit Park West and the 232-unit Parliament Bend have both been sold to California-based Regional Investment & Management.

The two Class B, garden-style communities are located in the Castle Hills submarket.

Park West, located at 11845 West Ave., offers studio, one- and two-bedroom floor plans that range from 413 sf to 823 sf. Rent varies from $489 to $829. It was constructed in 1979.

Parliament Bend, located at 11838 Parliament St., offers one- and two-bedroom units that range from 476 sf to 905 sf. Rent varies from $499 to $849. It was constructed in 1981.

“Mid-1980s construction is popular with multifamily investors due to the ease at which you can upgrade this property type and seek increased rents,” said Pat Jones, Austin-based principal at ARA Austin.

Read more at Multi-Housing News.

Northeast San Antonio: 28,000-SF senior center underway 

(9/25/2014)

SAN ANTONIO - Guido Brothers Construction has broken ground on the $10 million, 28,000-sf Northeast Senior Center at 4135 Scarsdale in Northeast San Antonio.

The facility will have a large reception area, classrooms, offices, space for health screenings, exercise rooms, meeting rooms and a kitchen. The large multi-purpose room can be configured to a dining room that can hold up to 300 guests.

The City of San Antonio is paying for the construction with money set aside from the 2012 bond program. The facility is scheduled to be completed in 2015.

Read more at the San Antonio Business Journal.

$18M drops to The Strand at Huebner Oaks in SA 

(9/24/2014 6:58:00 AM)

SAN ANTONIO - Whitestone REIT has purchased The Strand at Huebner Oaks for $18 million or approximately $244 per sf, with an 8.3 percent cap rate. The 73,920-sf property is located along Huebner Rd., just off of I-10, in Northwest San Antonio.

The Strand boasts a 90 percent occupancy rate with tenants such as Half Price Books, Luce Italian Restaurant, Flying Saucer Draught Emporium, Pei Wei, Zoe's Kitchen, Birkenstock, and Smooth Lines Salon & Spa currently leasing space at the center.

Fulcrum Property Group was the seller.

Houston-based Whitestone also owns Windsor Park Centre, which spans roughly 200,000 sf along the northbound frontage of I-35 and Walzem Rd. on the Northeast Side.

Between Windsor Park and The Strand, Whitestone now owns nearly 300,000 sf of retail space in San Antonio.

Read more at the San Antonio Business Journal and CoStar Group.

San Antonio: Santikos Casablanca 'to play it, Sam' 

(9/23/2014 7:00:00 AM)

SAN ANTONIO - Santikos Theaters has broken ground on a new 110,000-sf movie theater in far west San Antonio at 11210 Alamo Ranch Pkwy. at SH-151 and Alamo Pkwy.

The Santikos Casablanca Theater will have a Spanish-themed edifice and feature the latest digital projection technology including an 85-foot 'AVX MAX' screen. Select auditoriums will have plush recliners and allow for food and beverage items to be delivered directly to patron’s seats.

The theater complex will also include a 16-lane bowling alley, a full-service sports bar and a restaurant.

Read more at the San Antonio Business Journal . Special thanks to Daniel Rodriguez of Santikos.

Lackland AFB: 645,000-SF hospital to enhance medical care 

(9/23/2014)

SAN ANTONIO - San Antonio is home to a new military medical center, now rising at Lackland Air Force Base. 

The $457 million, 645,000-sf Lackland Ambulatory Care Center is a state-of-the-art replacement hospital that will become the largest ambulatory care center the Department of Defense has built to date.

Development of the new facility was driven by the Base Realignment and Closure Act (BRAC) of 2005, an initiative that consolidated all military medical training and health care in the San Antonio area.

The original strategy consisted of four phases totaling $480 million, including 680,000 sf of clinic space, a new central energy plant, a parking garage and overall site improvements. Phase one ended in November, and phases two and three are still under construction.

The $90 million phase two is 90 percent finished, with completion expected by January. Phase three should be done in June 2015. Valued at $92.5 million, the third phase is around 75 percent complete.

A fourth and final phase that includes demolishing Wilford Hall is planned for 2015-2016 but is contingent on government funding.

Read more from Texas.Construction.com.

PicaPica Flip'z to Trampoline Park in San Antonio 

(9/22/2014)

SAN ANTONIO - Local developer Al Honigblum is once again spicing things up at his South San Antonio venue, PicaPica Plaza. The latest addition is the 25,000-sf Flip’z Trampoline Park.

Flip’z will join another leading children’s attraction of PicaPica Plaza — Kiddie Park, which opened two years ago. Flip'z will feature two trampolines for high-flying basketball dunking, a foam pit and two full-size dodgeball courts.

PicaPica Plaza debuted in December 2012 — bringing new purpose to a 130,000-sf retail box that once had been home to both Walmart and defunct retailer Steve & Barry’s.

PicaPica Plaza now has roughly 200 retail and service vendors doing business.

Read more at the San Antonio Business Journal.

TAMU-San Antonio opens 171,000-SF academic center 

(9/19/2014 3:30:00 PM)

SAN ANTONIO - Texas A&M University-San Antonio has formally dedicated Central Academic Building & Patriots' Casa. The $75 million building is the largest yet on TAMU-San Antonio's growing campus located in South San Antonio.

The four-story, 170,750-sf building will be the physical heart of the fastest-growing component of the Texas A&M University System. It features an auditorium, lecture halls, science labs and classrooms.

Space will be provided for various student services, student lounge areas and an “Opportunity Mall/Hall” for events and club activities. A cyber café and food court are also planned with wireless Internet throughout.

About 300 new parking spaces are being added near the Central Academic Building for visitors, students, faculty and staff.

The school near the intersection of Loop 410 and Zarzamora St. has an enrollment of about 4,520 students and has grown 216 percent in the past five years.

About 74 percent of the student population are first-generation college students.

Read more at the San Antonio Express-News.

Mission shines on South San Antonio solar-panel factory 

(9/19/2014)

SAN ANTONIO - Mission Solar Energy is set to open the company’s 240,000-sf manufacturing facility at Brooks City-Base.

The solar voltaic panels produced at this South San Antonio facility will be used at various CPS Energy and commercial projects throughout the city and around the world.

Mission Solar Energy, which relocated its corporate headquarters to San Antonio as part of CPS Energy’s New Energy Economic Initiative, invested more than $130 million to build the 100 megawatt-capacity N-type solar cell and module facility.

Once the plant reaches full capacity in 2015, the company will reach 200 megawatt capacity.

The company currently employs 240 people and plans to create more than 400 competitive jobs in San Antonio.

Read more at the San Antonio Business Journal.

Delta to add nonstop flights from San Antonio to LAX 

(9/18/2014)

SAN ANTONIO - Delta Air Lines will begin offering twice-daily nonstop service from San Antonio to Los Angeles International Airport (LAX), starting April 2015.

With the addition of Los Angeles, Delta will serve six destinations from San Antonio International Airport, including Atlanta, Detroit, Minneapolis-St. Paul, New York and Salt Lake City.

The nonstop service also will give San Antonio passengers the ability to connect on Delta’s trans-Pacific flights from LAX.

Earlier this summer, American Airlines also announced that it would be expanding nonstop service between San Antonio and Los Angeles starting October 2014.

Read more at the San Antonio Business Journal.

SABOR: homes in San Antonio are spending less time on market 

(9/17/2014 10:09:00 AM)

SAN ANTONIO - The housing market remains as hot as the city’s so-called fall weather, according to the August 2014 Multiple Listing Service report by the San Antonio Board of Realtors (SABOR).

At the end of August, homes were spending an average of just 60 days on the market — a 14 percent decrease from August 2013.

The local inventory level, meanwhile, remains at a very lean 4.5 months. By comparison, the national inventory level presently stands at 5.5 months.

A total of 2,468 home were sold in August — a 2 percent increase from the 2,416 homes sold over August 2013.

The average home price, as of August 2014 stood at $222,993 — a 6 percent increase from the average of $209,413 posted a year ago. The median price of a home in greater San Antonio now stands at $183,300 — up 5 percent from the median of $175,100 as of August 2013.

Homes priced under $200,000 continue to account for the bulk of home sales in the greater San Antonio housing market — to the tune of 56.9 percent of all sales reported in August.

Homes priced between $200,000 and $500,000 accounted for 38.7 percent of the market. Homes priced over $500,000 accounted for 4.5 percent of home sales, while homes priced over $1 million accounted for 0.5 percent of all homes sold in August.

Read more at the San Antonio Business Journal.

SABOR: area home sales August 2014 

(9/16/2014 9:00:00 AM)

SAN ANTONIO - San Antonio Board of Realtors (SABOR) released home sales data for August 2014. Some quick facts include:

•  The median price of existing single-family homes decreased to $175,000, down 1.8 percent versus July 2014.
•  Existing single-family home sales decreased 5.6 percent from July 2014 for an August 2014 total of 2,066 sold units.
•  Condos increased in price to $109,750, up 18.0 percent versus July 2014.
•  Existing condo sales increased 22.2 percent in August 2014 over July 2014 for a total of 88 sold units.

Select region cities are represented below along with statistics from the SABOR MLS area as a whole.

SABOR August 2014 Regional Sales and Price Activity
MLS Wide Median Price
Aug. 2014
Price Chg.
vs. Aug. 2013
Units Sold
Aug. 2014
Sales Chg.
vs. Aug. 2013
SABOR
(single-family)
$175,000 6.1% 2,066 -2.1%
SABOR (condo) $109,750 6.6% 88 31.3%
Region Cities*  
San Antonio $164,100 3.2% 1,387 -3.4%
New Braunfels $196,425 4.5% 80 -7.0%
Converse $129,775 10.6% 56 7.7%
Cibolo $185,000 6.5% 53 10.4%
Schertz $176,000 7.3% 49 88.5%
Boerne $280,000 -3.3% 45 -42.3%
Helotes $252,000 7.2% 41 5.1%
Canyon Lake $189,000 -1.4% 36 50.0%

*Region Cities' data include single-family only and represents eight select cities sorted by number of units sold.

See previous housing and SABOR at NewsTalk Texas.

See Housing under San Antonio Market Data Sources.

Source: San Antonio Board of Realtors (SABOR).

Toyota + two vendors = 100 jobs in South San Antonio 

(9/15/2014)

SAN ANTONIO - Automotive suppliers Forma Automotive LLC and ASI will establish operations at Toyota's on-site supplier park in South San Antonio.

These two companies will supply components to Toyota’s truck assembly plant, where local workers build the Japanese automaker’s Tundra and Tacoma trucks for the North American market.

Forma Automotive employees will assemble Tacoma truck beds inside the Toyota plant. ASI is building a greenfield facility at the supplier park that will supply exhaust systems for the truck plant.

Each company will hire about 50 employees by June 2015.

Read more at the San Antonio Business Journal.

Enrollment record for San Antonio's UIW 

(9/15/2014)

SAN ANTONIO - The University of the Incarnate Word (UIW) set a record for student enrollment this year with 9,940 students.

That is a 3.6 percent increase from last year and enrollment has nearly tripled since 2000.

UIW is now the fourth largest private university in Texas. The San Antonio-based school offers 80 undergraduate, graduate and professional programs.

Read more at the San Antonio Business Journal.

San Antonio 328-unit Bella Madera sold by Harbor 

(9/15/2014)

SAN ANTONIO - Harbor Group International (HGI), a global real estate investment firm, sold the 328-unit Bella Madera Apartments at 2914 Olmos Creek Dr. to Falkin Platnick Realty Group.

The 246,520-sf apartment complex was built in 2006 on 16.8 acres in the Castle Wood Forest Multifamily submarket.

The community consists of 13 three-story buildings offering one- and two-bedroom units. At the time of purchase, the community was 96 percent occupied.

Read more at CoStar Group.

NAR San Antonio housing market 2Q 2014 

(9/12/2014 7:00:00 AM)

SAN ANTONIO - Second quarter 2014 housing data have been released for the San Antonio market by the National Association of Realtors.

NAR San Antonio Housing Market 2Q 2014
Price Activity San Antonio U.S. Local Trend
Current Median Home Price (2Q 2014) $184,200 $212,267 Prices are up from a year ago,
but price growth is slowing.
1-year (4-quarter) Appreciation (2Q 2014) 5.0% 4.6%
3-year (12-quarter) Appreciation (2Q 2014) 20.2% 25.8%
3-year (12-quarter) Housing Equity Gain* $31,000 $43,600 Gains in the last 3 years have
extended the trend of positive
price growth after the recession.
7-year (28 quarters) Housing Equity Gain* $29,900 -11,500
9-year (36 quarters) Housing Equity Gain* $50,200 -$8,000

*Equity gain reflects price appreciation only.

Source: National Association of Realtors, courtesy of Prudential Ada Realtors.

Click to see the full report.

Also see more Housing data under San Antonio Market Data Sources.

Alamo Academies launching heavy equipment course 

(9/11/2014)

SAN ANTONIO - The pending launch of a new course focused on heavy equipment as part of the Alamo Academies program already has a number of local industry groups eager to participate.

Next year, the program will expand to include courses in the operation and maintenance of heavy equipment and machinery.

The new curriculum has piqued the interest of major equipment dealers in the area such as Holt Cat, Zachry Construction and Martin Marietta Materials.

Howard Hicks, a vice president with Holt Cat, says he is excited about the start-up of the new academy and has already lined up skilled technicians to train students who enter the two-year program.

Alamo Academies is a nonprofit partnership between Alamo Colleges, local high schools, local industry groups and the City of San Antonio.

Since its inception in 2001, it has helped to prepare more than 1,000 high school students for potential careers in manufacturing, information technology and health care.

Read more at the San Antonio Business Journal.

KMG Conversion buys 39,000-SF Spur 122 Storage in SA 

(9/10/2014)

SAN ANTONIO - KMG Conversion LLC has purchased Spur 122 Storage on the city’s South Side with plans to rename the six-building complex 37/410 Self Storage.

The property is located just north of US Hwy. 181 on Spur 122.

The property has 38,870-sf of rentable climate-controlled and non-climate-controlled storage space. It has on-site management, gated access and surveillance cameras.

Read more at the San Antonio Business Journal.

REOC: San Antonio 2Q 2014 medical office market 

(9/9/2014 9:00:00 AM)

SAN ANTONIO - The citywide medical office market experienced 146,170 sf of positive net absorption in second quarter, according to REOC San Antonio.

The vacancy rate ticked up slightly to 17.5 percent compared to 17.2 percent last quarter, but it stands improved from 18.6 percent recorded in 2Q 2013.

REOC San Antonio: 2Q 2014 MOB
All Classes Citywide CBD Non-CBD
2Q 2014 2Q 2013 2Q 2014 2Q 2013 2Q 2014 2Q 2013
Inventory 6,662,911 6,559,753 1,012,037 1,012,037 5,650,874 5,547,716
Available 1,167,178 1,219,816 82,960 86,750 1,084,218 1,132,046
Vacant 17.5% 18.6% 8.2% 8.6% 19.2% 20.4%
Average rent $23.81 $23.77 $20.78 $20.71 $24.35 $24.36
2Q absorption 72,376 59,867 -900 14,596 73,276 45,271
YTD absorption 146,170 201,399 -900 35,591 147,070 165,808


Source: REOC San Antonio

Click here for the full report.

San Antonio TopGolf on pace to open $15M, 65,000-SF complex 

(9/8/2014 7:06:00 AM)

SAN ANTONIO - Construction on TopGolf, a multimillion dollar sports and golf entertainment complex, is on pace to have the Northwest Side venue open by early 2015.

The 65,000-sf, three-level driving range, which will include bars, 230 high-definition televisions, and other entertainment, is expected to open by late January.

The estimated $15 million complex will be modeled after a Houston location and will hire about 450 personnel, including about 100 full-time positions.

The company said they expect to serve 400,000 visitors in its first year and to generate $264.5 million in economic output over ten years.

The $15 million venue, across from Six Flags Fiesta Texas and The Shops at La Cantera, was finalized in January and will be the first in San Antonio and the seventh Texas location.

Read more at the San Antonio Express-News.

Bowlmor AMF pins 48,000-SF Bowlero to San Antonio 

(9/8/2014)

SAN ANTONIO - Bowlmor AMF is bringing one of its newest bowling entertainment concepts to San Antonio. The Virginia-based company is transforming AMF Country Lanes, located on US Hwy. 281 near Bitters Rd., into Bowlero.

The newest Bowlero will feature a retro-modern design and an upscale environment. The 48,000-sf venue will have semi-private meeting and event rooms and the ability to accommodate up to 600 patrons.

The retooled venue will house 48 lanes of black-light bowling, a gravity ropes course, amusement games, as well as themed bar and dining areas.

This will be the second Bowlero venue in Texas.

Read more at the San Antonio Business Journal.

U.S. Government nabs 161,000 SF in San Antonio 

(9/4/2014 7:00:00 AM)

SAN ANTONIO - Corporate Office Properties Trust (COPT) has executed a full-building lease with the U.S. Government for an approximately 160,500-sf building under construction in the company’s Sentry Gateway office park in San Antonio.

The building is expected to be complete during fourth quarter 2014, with a lease start date in 1Q 2016. (Hum, this doesn't seem correct but all the sources have the same thing. If you have better information, please contact the Market Data Sources team.)

Upon completion of this building, Sentry Gateway will consist of 953,000 sf.

Read more at the San Antonio Business Journal.

San Antonio raises the curtain on the $203M Tobin Center 

(9/4/2014 6:20:00 AM)

SAN ANTONIO - Nearly ten years after the idea was proposed, the $203 million Tobin Center for the Performing Arts is officially opening today.

The Tobin Center complex includes the 1,750-seat H-E-B Performance Hall, the 250-seat Carlos Alvarez Studio Theater and an outdoor River Walk Plaza venue, which seats 600 spectators.

One of the theater's biggest assets is a $10 million mechanical floor that will be the first of its kind in the United States.

In May 2008, Bexar County voters approved a bond referendum which included $100 million for the transformation of Municipal Auditorium into the Tobin Center.

Read more at the San Antonio Business Journal.

Veterans' affordable housing deployed to San Antonio 

(9/2/2014)

SELMA, BEXAR COUNTY - The Texas Department of Housing and Community Affairs approved a housing tax credit for the $18.7 million Liberty Pass project — a 104-unit housing complex that will be constructed on an eight-acre site near the intersection of Lookout Rd. and Jordan Rd.

The project will provide affordable housing and job training facilities for veterans and wounded veterans looking to transition into the workforce.

The Liberty Pass development will have apartment style homes with one to four bedrooms.

Developer Anthem Builders plans to start construction on the complex in spring 2015, with completion scheduled for January 2016.

Read more at the San Antonio Express-News.

Tex-Mex lunch San Antonio; New Orleans beignets at breakfast 

(9/1/2014)

SAN ANTONIO - San Antonians who want to get away to the Big Easy for beignets from Café du Monde and a hurricane from Pat O’Brien’s will now be able to take advantage of a new nonstop flight on Southwest Airlines.

And certainly the same is true for New Orleanians who want to travel to the Alamo City for Tex-Mex and tequila.

Southwest Airlines will expand nonstop service from San Antonio to New Orleans on November 25, 26, 30 and December 1, 2014.

The service will be expanded weekly, beginning March 6, 2015, then daily on April 7, 2015.

“We are pleased with Southwest’s decision to expand the limited service to New Orleans permanently,” said San Antonio Mayor Ivy R. Taylor. “Southwest Airlines has been a great partner for our city and their continued growth shows great confidence in the San Antonio market.”

Dallas-based Southwest Airlines flies from San Antonio International Airport to 16 destinations: Atlanta, Nashville, Baltimore, Dallas Love Field, Denver, El Paso, Houston Hobby, Las Vegas, Los Angeles, Orlando, Chicago Midway, Phoenix, San Diego, St. Louis and Tampa.

Read more at the San Antonio Business Journal.

San Antonio: Main Event bell rings in Monterrey Village 

(8/29/2014)

SAN ANTONIO - Main Event Entertainment has opened a 58,000-sf facility is located in the Monterrey Village development at 8514 State Hwy. 151 and Cable Ranch Rd. on the city’s far West Side.

The space includes a gravity ropes course, laser tag, billiards, arcade games, food and bowling.

The Dallas-based chain made its San Antonio debut in early 2012 — taking a 48,000-sf lease at 1911 N. Loop 1604 East in The Legacy Shopping Center.

Read more at the San Antonio Business Journal.

San Antonio construction employment flat; project pace up 

(8/29/2014)

SAN ANTONIO - According to the latest employment report by The Associated General Contractors of America (AGC), San Antonio is still adding employees to the construction market — but not by much.

It’s the Catch 22 of the construction industry. The number of projects in the pipeline is filling up once again. That means more and more construction firms are looking to add employees.

Now if they could just find them.

The labor pool is presently shallow at best in many markets, according to industry officials.

Over the 12 months ended July 31, 2014, local contractors added 100 jobs — going from a total of 44,300 employees in July 2013 to 44,400 a year later.

San Antonio contractors have seen an increase in the pace of projects and are working to bring on qualified, skilled employees. However, there is still a lot of ground to be made up to even get near the industry’s peak of 52,100 employees as of December 2007.

Read more at the San Antonio Business Journal.

50,000-SF stand-alone San Antonio Aquarium goes swimmingly 

(8/28/2014)

LEON VALLEY, BEXAR COUNTY - Construction for the enclosures at the 50,000-sf San Antonio Aquarium is underway. The aquarium will be located at 6320 Bandera Rd., just outside of Loop 410 at the former home of the Fiesta Dodge dealership.

The aquarium is scheduled to open in December and will feature sharks, hundreds of species of exotic fish, sting rays and interactive exhibits.

The largest exhibit will be a 125,000-gallon tunnel tank with various sharks and tropical fish, which may not be completed until March 2015.

The San Antonio Aquarium will also feature an exhibit where guests can touch stingrays and a Jump Jungle, where kids can enjoy multiple bounce houses and trampolines.

Read more at the San Antonio Business Journal.

LA firm buys more: San Antonio 138,000-SF Gateway Plaza 

(8/27/2014)

SAN ANTONIO - Los Angeles-based Tryperion Partners has closed on the purchase of the 138,510-sf Gateway Plaza located at the I-35 and Loop 1604 interchange on the city’s far Northeast Side.

Anchored by Burlington Coat Factory, Gateway Plaza is currently 97 percent occupied. The acquisition also includes vacant land for future development of the center.

Gateway Plaza marks Tryperion’s latest buy in the Alamo City. Last September, the private real estate investment firm purchased the Oakwell Springs apartment complex — a 252-unit multifamily community located at 1946 NE Loop 410 in North Central San Antonio.

Read more at the San Antonio Business-Journal.

San Antonio housing market cools in July 

(8/25/2014)

SAN ANTONIO - After six consecutive months of increasing home prices, the greater San Antonio housing market took a pause in July, according to the San Antonio Board of Realtors (SABOR).

As of July 2014, the average and median home price in the San Antonio MSA stood at $229,253 and $187,500, respectively. Both numbers represent a slight decrease in pricing — after six months of increases.

Home prices are still up on a yearly basis, however. The average price of $229,253 represents a 6 percent increase from the average price of $216,317 posted last July.

As for the median home price, at the end of July last year, that number stood at $179,500. A year later, the median home price in the San Antonio MSA stood at $187,500 — an increase of 4 percent.

Additionally, 2,557 homes were sold over the 31 days ended July 31, 2014 — a 5 percent increase from the 2,431 homes sold over the same month last year, SABOR reports.

Read more at the San Antonio Business Journal.

San Antonio: $33M takes The Lodge at Sonterra 

(8/21/2014 7:00:00 AM)

SAN ANTONIO - The Lodge at Sonterra Ltd. has sold the 326-unit Lodge at Sonterra multifamily property in San Antonio to Sonterra Acquisition LLC for $33 million.

Units at the Lodge at Sonterra range from 648 sf to 1,506 sf and range in price from $730 to $1,737. One-, two- and three-bedroom units are available.

The complex was built in 2001 and is currently 87 percent leased.

Read more from the CCIM Institute.

REOC: San Antonio 2Q 2014 industrial 

(8/21/2014 6:45:00 AM)

SAN ANTONIO - Tenant demand for industrial space continued to tighten the local market in second quarter, according to REOC San Antonio. The survey of 461 industrial properties totaled nearly 33.7 million sf of space.

The San Antonio industrial market experienced 199,748 sf of positive net absorption which marks a 13th consecutive quarter of absorption growth.

The citywide vacancy rate remained stable from 1Q 2014 at 5.9 percent but narrowed significantly compared to 8.1 percent recorded in 2Q 2013.

With available space being squeezed, rental rates are rising quickly. The citywide average quoted triple net rental rate for industrial space increased to $7.83 per sf per year — up 4.5 percent from 2Q 2013.

No new speculative projects were delivered to the market in the first half of the year but roughly 537,000 sf of space is expected to come online in the second half.

REOC San Antonio: 2Q 2014 Industrial*
All Types Citywide CBD Non-CBD
2Q 2014 2Q 2013 2Q 2014 2Q 2013 2Q 2014 2Q 2013
Inventory 33,685,029 32,268,547 233,395 233,395 33,451,634 32,035,152
Direct vacant 1,977,334 2,599,345 0 28,548 1,977,334 2,570,797
Vacant 5.9% 8.1% 0.0% 12.2% 5.9% 8.0%
Average rent $7.83 $7.49 $3.60 $3.60 $7.87 $7.53
2Q Absorption 199,748 564,220 28,548 26,186 171,200 538,034
YTD Absorption 448,008 850,003 28,548 11,912 419,460 838,091

*Statistics based on all multi-tenant industrial facilities 20,000 sf and larger excluding single-tenant, owner-occupied and government buildings.

For the full report see REOC San Antonio.

For more stats, see Industrial under San Antonio Market Data Sources.

REOC: San Antonio 2Q 2014 retail 

(8/21/2014)

SAN ANTONIO - What fuels the local retail market? According to the second quarter 2014 REOC retail report, employment growth continues to drive demand for housing which, in turn, drives retail.

For the 12 months ending June 2014, the greater San Antonio metro area added 22,500 jobs which equates to annual growth rate of 2.5 percent.

Looking ahead, available space will continue to dwindle, especially while development remains dominated by Walmart and other user-driven activity. However, development in high-growth and well-established niche markets is heating up.

REOC San Antonio: 2Q 2014 Retail
All Types Citywide CBD / South Non-CBD / North
2Q 2014 2Q 2013 2Q 2014 2Q 2013 2Q 2014 2Q 2013
Inventory 47,164,952 46,489,788 6,375,326 6,365,096 40,789,626 40,124,692
Direct vacant 4,679,243 4,925,390 757,115 702,425 3,922,128 4,222,965
Vacant 9.9% 10.6% 11.9% 11.0% 9.6% 10.5%
Average rent $16.58 $15.95 $15.50 $17.23 $16.67 $15.84
2Q absorption 108,746 118,705 -13,799 -3,033 122,545 121,738
YTD absorption 371,043 94,487 41,853 2,878 329,190 91,609

*Statistics based on all multi-tenant industrial facilities 20,000 sf and larger excluding single-tenant, owner-occupied and government buildings.

For the full report see REOC San Antonio.

For more stats, see Retail under San Antonio Market Data Sources.

REOC: San Antonio 2Q 2014 office 

(8/20/2014 8:30:00 AM)

SAN ANTONIO - According to REOC San Antonio's survey of more than 28.4 million sf of office lease space, new leases and expansions inked in the second quarter generated 297,378 sf of positive net absorption which raised the year-to-date total gain to 612,054 sf.

Current absorption levels are nearly double that achieved in all of 2013 and almost four times that experienced in 2012.

In all, there is roughly 600,000 sf of new office space under construction not counting build-to-suit projects. The market hasn’t seen this much activity since 2008 when the market peaked with nearly 1.4 million sf of new speculative office space delivered.

San Antonio 2Q 2014 Office Report*
All Classes Citywide CBD Non-CBD
2Q 2014 2Q 2013 2Q 2014 2Q 2013 2Q 2014 2Q 2013
Inventory 28,421,603 28,017,141 5,728,263 5,658,503 22,693,340 22,358,638
Direct vacant 4,982,630 5,217,851 1,533,790 1,618,403 3,448,840 3,599,448
Vacant 17.5% 18.6% 26.8% 28.6% 15.2% 16.1%
Average rent $19.95 $19.45 $19.98 $19.30 $19.94 $19.47
2Q absorption 297,378 239,397 49,964 62,996 247,414 176,401
YTD absorption 612,054 376,051 182,545 121,285 429,509 254,766

*Statistical information is calculated for multitenant office bldgs. 20,000 sf and larger (excluding single-tenant, owner-occupied, gov't and medical buildings).

For the full report see REOC San Antonio.

For more stats, see Office under San Antonio Market Data Sources.

​QVC hiring 700 seasonal workers in San Antonio 

(8/20/2014)

SAN ANTONIO - QVC, a leading video and ecommerce retailer, is in the process of hiring over 700 seasonal employees at its far West Side campus.

The employees will be located at QVC’s newly renovated 72,000-sf site at 9855 Westover Hills Blvd.

Both full and part-time positions will be available.

Read more at the San Antonio Business Journal.

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