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San Antonio-New Braunfels

San Antonio multifamily market steady; units coming 

(12/19/2014 11:00:00 AM)

SAN ANTONIO - CBRE reports Texas' occupancy rate hit 91.7 percent third quarter 2014, slightly up from the same time last year. San Antonio's multifamily occupancy rate is slightly less, at 90.5 percent.

According to CBRE's research, the Stone Oak/Thousand Oaks/San Pedro community saw the most multifamily growth in 3Q with 416 units built. An additional 433 units are under construction in that neighborhood.

Compared to Austin, Dallas and Houston, San Antonio has the smallest number of multifamily units at about 159,400.

San Antonio touted the highest number of Class A units at 18 percent of its overall offerings. Dallas came in second with 16 percent of its multifamily units being categorized as Class A.

San Antonio had the highest share of Class B units at 36 percent of its 159,400 units. Dallas came in second once again.

The report also predicts that the hottest activity expected next year are on two opposite sides of San Antonio — downtown and the UTSA/La Cantera/Bandera Rd. areas. Those communities are expected to build more than 1,000 units combined over the next several months.

Read more at the San Antonio Business Journal.

Click here to see CBRE's Texas multifamily report from December 2014.

FMC Technologies' research to 55,000 SF in San Antonio 

(12/19/2014)

SAN ANTONIO - FMC Technologies, a Houston-based energy company, has begun construction on a 55,000-sf facility in south Bexar County that will house a regional research, testing and repair facility.

The new office will bring 160 new jobs to the area over the next three years.

The jobs and the new facilities represent a capital investment of more than $10 million. FMC's facility will be located at 3800 S. Loop 1604.

The company will serve oil-and-gas firms operating in the Eagle Ford Shale.

"We welcome FMC Technologies to Bexar County and the growing number of companies servicing the Eagle Ford Shale," said Bexar County Judge Nelson Wolff. "The research and high-tech jobs offered by this company will be the perfect complement to our local economy.”

Read more at the San Antonio Business Journal.

Cavender Cadillac rolls into 50,000-SF Live Oak dealership 

(12/19/2014)

LIVE OAK - Cavender Cadillac has officially opened its new automotive dealership near the intersection of I-35 and Loop 1604.

The company built the 50,000-sf dealership on ten acres near The Forum at Olympia Pkwy.

The move to the busy Northeast San Antonio corridor was prompted by the need for more space and a more modern facility, according to Principal Billy Cavender.

The dealership can house 300 new and used cars and 80 loaner cars.

Read more at the San Antonio Business Journal.

Winter home sales warm up San Antonio; inventory cools 

(12/18/2014 8:46:00 AM)

SAN ANTONIO - According to the San Antonio Board of Realtors (SABOR), the local housing market had 3.9 months worth of housing inventory in stock in November, the lowest it's been since January.

A balanced market is usually around a six-month supply.

Lisa Sinn, a local real estate agent, said that due to the competition among buyers, homeowners selling their houses are getting multiple offers at closer asking prices.

"Usually winter is the slowest time of year but this fourth quarter has been busy," Sinn said. "Generally I tell people to hold out until February or March to sell their homes because that's when the buyers are out, but the buyers are out now."

SABOR reported 1,694 homes were sold in November, a slight increase when compared to the 1,642 homes sold in the same month last year.

The average price of a home sold in November was $225,674, compared to $215,628 in November 2013.

Angela Shields, president and CEO of SABOR, expects those numbers to continue climbing. "With our warm weather and healthy job market, we expect to keep seeing a strong housing market here," Shields said.

Read more at the San Antonio Business Journal.

tag: San Antonio housing

San Antonio: Hotel Emma rising as jewel of the Pearl 

(12/18/2014)

SAN ANTONIO - Hotel Emma, the 146-room hotel set inside the historic Pearl brewery, will be one of the few hotels overlooking the northern part of the River Walk. It is set to open spring 2015.

In 2002, Silver Ventures acquired the 22-acre site that is the Pearl Brewing Co. The company built a separate tower to accompany the original building.

In all, the hotel will span 160,000 sf over seven floors. About 60 percent of the hotel is in the original building, and the other 40 percent is in the newly built tower.

The hotel has a 3,000-sf lobby that includes a restaurant, a market with prepared meals and a library where guests and locals can enjoy books. There is also 8,000 sf of meeting space and a 3,200-sf ballroom for events.

The hotel will be managed by Kimpton Hotels and Restaurants, who is set to be purchased by InterContinental Hotels Group for $430 million.

InterContinental will take over Kimpton's 62 hotels and 71 hotel-based destination restaurants, bars and lounges.

Over the past 12 years, the 22-acre Pearl Brewery site has been slowly revitalized into a planned community of sleek apartments, enviable eateries, industrial office spaces and historic venues.

Hotel Emma is one of the last pieces of the puzzle.

Read more at the San Antonio Business Journal.

For more information on InterContinental's purchase of Kimpton, see the San Antonio Business Journal.

Far Northwest San Antonio submarket ranks No. 7 in U.S. 

(12/16/2014 6:40:00 AM)

SAN ANTONIO - Far Northwest San Antonio has been named the seventh busiest submarket in the nation in this cycle by MPF Research.

Far Northwest San Antonio’s apartment inventory expansion rate since 2012 is 44.2 percent, including new apartment supply plus units under construction at the end of third quarter 2014.

Putting that percentage into numbers, Far Northwest San Antonio has received 2,741 new units since 2012, with another 1,473 units under construction.

San Antonio is quickly growing north, and Far Northwest San Antonio is in that growth path.

The submarket contains two important roadways: Loop 1604 and I-10, which intersect in the southern part of the submarket. That intersection is a hotbed for apartment development, as well as retail and office space.

Another big apartment demand driver in the Far Northwest San Antonio submarket is the University of Texas at San Antonio (UTSA). As of the fall semester 2014, there were 28,628 students enrolled at UTSA.

Far Northwest San Antonio is quickly becoming the retail and entertainment hub of San Antonio with attractions such as The Rim, Top Golf, Six Flags Fiesta Texas and The Shops at La Cantera.

Zip codes for Far Northwest San Antonio, according to MPF Research:

78006, 78013, 78015, 78023, 78063, 78074, 78249, 78255, 78256, 78257

Read more at Property Management Insider.

San Antonio: Huebner Medical Center I, II sells 

(12/16/2014)

SAN ANTONIO - The 166,167-sf Huebner Medical Center I & II has been sold to Ohio-based Equity Inc. and and Grapevine, Tex. 2GR Equity.

Completed in 1991, the facility is located at 9150 Huebner Rd. in the South Texas Medical Center.

One of the tenants operating out of the facility is Methodist Ambulatory Surgical Hospital (MASH), the area's third largest private employer and one of eight Methodist/HCA Healthcare System hospitals in San Antonio.

MASH occupies 48,000 sf with 28 beds and nine operating rooms.

Source: CoStar

MPF: San Antonio apartment trends 3Q 2014 

(12/16/2014)

SAN ANTONIO - Like other major metros in Texas, San Antonio’s apartment sector showed strong growth coming out of the recession.

But unlike those other metros, San Antonio already appears to be reverting to a slow growth pattern that is more consistent with its own historical performances.

Structurally, the San Antonio metro is a more moderate-growth metro — heavy on government-related jobs, but not on large private employers.

Eight of San Antonio’s ten largest employers are concentrated in either the public sector or in health care, which helps during economic downturns but limits upside potential during prosperous times.

Economic progress and population growth doesn’t translate into housing demand as quickly in San Antonio as they do in the other metros that have given Texas a fast-growth reputation.

Still, San Antonio’s relatively strong performances coming out of the recession led to increased apartment development.  

Properties sampled 675 Units sampled 141,737 Submarkets 14


What changed this quarter? In 3Q 2014, demand remained at healthy levels and outpaced new supply. As a result, occupancy jumped 0.4 points quarter-over-quarter, pushing the overall rate to 93.6 percent. Meanwhile, same-store rental rates increased 0.9 percent in the quarter.

3Q 2014 San Antonio Apartment Trends
Effective Rent Occupancy Annual Job Change Annual Permits Annual Demand Annual Completions
$838 93.6% 24,300 jobs 3,693 units 5,035 units 6,233 units


For a submarket map and additional information, read more at MPF Research.

tag: San Antonio data, apartment

San Antonio: 2014 retail sector's big year 

(12/15/2014 10:00:00 AM)

SAN ANTONIO - Dan Mitchell, executive vice president of The Weitzman Group in San Antonio, said 2014 was a big year for retail.

Mitchell said for six or seven years, nobody was building retail developments in San Antonio, such as shopping centers or free-standing stores, except large companies such as Walmart and H-E-B.

Now, a number of developers have shovels in the ground again.

Class A shopping centers are full and Class B centers have a healthy occupancy rate, which means Class C projects are receiving new-found attention.

In 2014, the I-10 corridor from UTSA Blvd. all the way north to Boerne Stage Rd. was a hotspot for new retail development.

Mitchell predicts the next big area slated for retail development is the far west side of San Antonio near Alamo Ranch.

Read more at the San Antonio Business Journal.

tag: San Antonio data, retail

SABOR: San Antonio home sales Nov. 2014 

(12/15/2014)

SAN ANTONIO - San Antonio Board of Realtors (SABOR) has released November 2014 home sales data.

Some quick facts include:
•  The median price of existing single-family homes increased to $171,000, up 3.7 percent versus October 2014
•  Existing single-family home sales decreased 27 percent from October 2014 for a November 2014 total of 1,365 sold units.
•  Condos decreased in price to $96,250, down 1.3 percent versus October 2014.
•  Existing condo sales increased 37.7 percent in November 2014 from October 2014 for a total of 38 sold units.

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

The chart below is from December 10, 2014.

SABOR Nov. 2014 Regional Sales and Price Activity
MLS Wide Median Price
Nov. 2014
Price Chg.
vs. 
Nov. 2013
Units Sold
Nov. 2014
Sales Chg.
vs. Nov
. 2013
SABOR
(single-family)
$171,000 8.2% 1,365 -1.2%
SABOR (condo) $96,250 -12.5% 38 -19.1%
Region Cities*  
San Antonio $160,458 8.4% 950 -2.1%
New Braunfels $209,000 19.1% 61 13.0%
Boerne $348,750 8.3% 48 33.3%
Converse $140,900 17.4% 32 6.7%
Schertz $189,000 18.1% 29 20.8%
Cibolo $185,250 12.4% 26 30.0%
Helotes $335,000 38.4% 23 -23.3%
Spring Branch $299,900 15.3% 13 -38.1%

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

Source: San Antonio Board of Realtors (SABOR)

tag: housing data, housing news

San Diego firm buys Holiday Inn near SeaWorld 

(12/15/2014)

SAN ANTONIO - Pacifica Companies, a San Diego-based investment firm, has acquired the 194-room Holiday Inn hotel on SH 151.

The hotel, which opened in 2009, is located near SeaWorld San Antonio on the Northwest Side.

The hotel was the first in Texas and with the Holiday Inn brand to be LEED (Leadership in Energy & Environmental Design) certified.

It is the preferred hotel of the 250-acre SeaWorld San Antonio, the world’s largest marine life theme park.

Read more at the San Antonio Business Journal.

Far North Central San Antonio submarket ranks No. 9 in U.S. 

(12/15/2014)

SAN ANTONIO - Far North Central San Antonio has been named the ninth busiest submarket in the nation by MPF Research.

Far North Central San Antonio’s existing apartment base expansion rate since 2012 is 42.7 percent. That rate calculation includes new apartment supply (1,742 units) since 2012 and the construction volume (1,220 units) at the end of 3rd quarter 2014.

Many of the apartments that either recently completed or that were under construction at the end of 3rd quarter 2014 were near major thoroughfares such as Loop 1604 and Hwy. 281.

Another large chunk of new apartments are either in or near high-end communities, such as Sonterra and Stone Oak.

In addition, office construction in the metro is at its highest level since 2009, with over 900,000 sf of product underway.

Quick Facts
Population 127,701
Median age 37
Average monthly rent  $1,161
Median family income $99,231
Occupancy 3Q 2014 95.5%
Existing units 8,676
Annual rent growth 2.3%


The submarkets were identified based on inventory growth since 2012, including the total number of units completed since 1Q 2012 and the total number of units under construction at the end of 3Q 2014.

Zip codes for Far North Central San Antonio, according to MPF Research:

78004, 78027, 78070, 78163, 78258, 78259, 78260, 7826

Read more at Property Management Insider.

SA Spurs stay competitive with AT&T Center $102M redo 

(12/11/2014 7:26:00 AM)

SAN ANTONIO - Bexar County Commissioners have given Spurs Sports & Entertainment, the parent company of the defending NBA champions, the green light to begin work on up to $101.5 million in improvements and renovations to AT&T Center.

Commissioners say planned improvements to the county-owned arena will affect spectator areas on every level of the 12-year-old East San Antonio venue.

Planned changes include improvements to seating and entrances at the AT&T Center, and an expanded Fan Shop.

A number of technological changes are also planned, including the installation of a new high-definition center-hung scoreboard and wrap-around LED boards.

"As the owner, it is our responsibility not just to repair and maintain the AT&T Center, but to make sure it stays competitive," Bexar County Judge Nelson Wolff said.

Bexar County will contribute $85 million toward the cost of AT&T Center improvements, while the Spurs will cover the remaining $16.5 million in renovation-related expenses.

Work on the arena makeover is slated to begin this summer.

Read more at the San Antonio Business Journal.

Builders milling around doors in Schertz 

(12/11/2014)

SCHERTZ, CONROE - Builders FirstSource, a supplier and manufacturer of structural and related building products for residential new construction in the U.S., has announced the planned opening of a new distribution facility in Conroe, as well as the relocation of its existing San Antonio facility.

The new San Antonio facility is located in Schertz, approximately 20 miles northeast of downtown.

This rail served site sits on 15 acres and has approximately 90,000 sf of warehouse and office space as well as multiple outside storage sheds.

Products initially distributed from this location will include dimensional lumber and lumber sheet goods but will eventually include interior and exterior doors, as well as millwork.

The Conroe facility is located on the I-45 corridor approximately 40 miles north of downtown Houston. It is an 11.5-acre site that includes 60,000 sf of warehouse, showroom and office space.

Product offerings will include dimensional lumber and lumber sheet goods, interior and exterior doors, millwork and other distributed building products.

"The relocation of our San Antonio location was necessary as the lease on our existing distribution facility, located on the northwest side of the market, was soon expiring. San Antonio is a very important market for us and the Schertz facility is an excellent one, located in the heart of this expanding market."

"We feel very fortunate to have secured these prime facilities within two of the best housing markets in the United States," said Floyd Sherman, Builders FirstSource CEO.

Read more at NASDAQ.

$63M San Juan complex completed in San Antonio 

(12/10/2014)

SAN ANTONIO - San Antonio Housing Authority, Mayor Ivy Taylor and representatives with the NRP Group have commemorated the completion of the third and final phase of the Gardens at San Juan Square in West San Antonio.

The $63 million, 539-unit residential community represents the redevelopment of the former San Juan public housing development.

Located at 2003 S. Zarzamora, the Gardens at San Juan Square features 252 new units, a clubhouse, 4,200 sf of commercial space and 12 affordable live/work units that can be rented to people in the neighborhood.

Read more at the San Antonio Business Journal.

Texas A&M-San Antonio earns accreditation 

(12/10/2014)

SAN ANTONIO - Texas A&M University-San Antonio has received accreditation — retroactive to Jan. 1, 2014 — from the Southern Association of Colleges and Schools Commission on Colleges to award baccalaureate and master's degrees.

The accreditation is separate from Texas A&M University-Kingsville.

Texas A&M-San Antonio became a stand-alone university on May 27, 2009, when Gov. Rick Perry signed a bill establishing it as a member of The Texas A&M University System.

Since then, the accrediting body has recognized A&M-San Antonio as an entity of its parent university in Kingsville. A&M-San Antonio will now seek approval, as needed, to add degree programs and courses, and develop into a full four-year university.

Read more at the San Antonio Business Journal.

San Antonio sale: 533,000-SF Bank of America Plaza 

(12/8/2014 10:00:00 AM)

SAN ANTONIO - A joint venture between Clarion Partners and Griffin Partners has purchased the Bank of America Plaza, a 28-story, 533,465-sf office building in downtown San Antonio, Clarion announced late last week.

The tower, at 300 Convent St., was designed by Skidmore, Owings & Merrill and completed in 1983. It’s currently 91 percent occupied by tenants in the finance, legal and government sectors.

Local office-using employment is expanding 2.5 percent this year, while the San Antonio inventory of office space will grow only 1.3 percent.

Read more at Commercial Property Executive.
Texas real estate news

Security Service plans 200 jobs with HQ move in San Antonio 

(12/8/2014)

SAN ANTONIO - Security Service Federal Credit Union is looking to add 200 new jobs in San Antonio and retain another 747 full-time positions as part of a plan to develop a new headquarters facility in the Alamo City.

The City of San Antonio and Bexar County are now working to finalize incentive agreements with Security Service in an effort to help bring the new headquarters project to fruition.

San Antonio-based Security Service, one of the largest credit unions in the United States, owns 66 acres of real estate at 14880 I-10 West near UTSA Blvd.

Initial plans for the site include a new 250,000-sf campus to include office and operations space, as well as a parking structure.

John Worthington, executive vice president of Security Service Federal Credit Union, said that the plan is to consolidate all of the credit union's operations throughout the city into one location.

Security Service also intends to relocate employees from its leased office space at Eilan, University Park and its old headquarters off US 90 to the new campus.

The company plans to begin construction on the new corporate campus in early 2015.

Read more at the San Antonio Business Journal.
Texas real estate news

IBEX Global opens San Antonio call center 

(12/8/2014)

SAN ANTONIO - Call center operator IBEX Global spent about $2 million improving the San Antonio office building it will move into on Dec. 8. Its new call center is at 12449 Silicon Dr. in the University Park Business Center.

IBEX is moving into a 42,000-sf, single-tenant building owned by R.L. Worth and Associates. Most of the $2 million that IBEX spent in renovations went towards technological improvements.

So far, IBEX has hired about 175 San Antonio employees who will begin working this month. It will hire an additional 600 employees in first quarter 2015.

Greg Rajchel, senior vice president of North American operations at IBEX Global, said IBEX has grown from 6,000 employees in 2012 to about 12,000 today.

Read more at the San Antonio Business Journal.
Texas real estate news

San Antonio apartment market overview Oct. 2014 

(12/5/2014 10:10:00 AM)

SAN ANTONIO - Apartment MarketData Research Services LLC has released October 2014 data. The multifamily market data represent three months trailing (August–October 2014).

As a rule these represent all properties except those that are leased but not occupied units.

Multihousing Market Condition Comparison Aug.–Oct. 2014
Age
Group
San Antonio Texas
Units Occ. Rate* Size** Units Occ. Rate* Size**
< 1970 12,745 93.6% $0.792 841 132,294 96.4% $0.852 832
1970's 27,353 95.3% $0.873 772 383,819 95.8% $0.841 818
1980's 44,376 95.8% $0.949 760 488,257 96.9% $0.928 780
1990's 11,499 95.8% $1.061 924 226,024 97.4% $1.080 922
2000's 40,669 96.3% $1.014 935 366,007 97.4% $1.046 963
2010's 7,831 97.2% $1.222 884 70,963 97.2% $1.194 927
Totals*** 144,473 95.7% $0.968 839 1,667,364 96.8% $0.966 859


*Rate: Rental Rate is the average market rate expressed as ($/SF/month).
**Size: The average size of each unit expressed as (SF/unit).
***Totals include four-bedroom units.

Click to see the full October 2014 San Antonio Multihousing Market Conditions Report, including previous data.

Source: Apartment MarketData Research Services LLC, San Antonio

Remember, this report and other data are available in San Antonio Market Data Sources.

tag: apartment data

SOJO Crossing for 27-unit townhomes in San Antonio 

(12/4/2014 6:59:00 AM)

SAN ANTONIO - After building 23 townhomes on East Quincy St. just west of the river, Frank Pakuszewski and Steve Yndo are teaming up again to develop SOJO Crossing — a 27-unit townhome complex that will be built in the Tobin Hill neighborhood.

The for-sale townhome project will be on the southeast corner of Myrtle St. and East Euclid Ave., a few blocks from The Pearl.

The condos will be three stories high and include units from 1,600 sf to 2,200 sf.

Each unit has three bedrooms, three baths, an enclosed garage and a balcony. The SOJO Crossing units will range from $400,000 to $650,000.

The project will break ground in March 2015 and should be ready for move-in by spring 2016.

Read more at the San Antonio Business Journal.
(Texas real estate news)

San Antonio Holt Cat orange flows to 40,000-SF expansion 

(12/4/2014)

SAN ANTONIO - Holt Cat, the Caterpillar equipment and engine dealer for South, Central, North and Northeast Texas, celebrated the completion of its 40,000-sf heavy equipment service facility.

The facility has eight service bays, featuring four ten-ton cranes and four 15-ton cranes; monitored oil dispensing in all bays; 150 tons of automated HVAC and lighting controls to save energy; and eight BAF-branded fans to reduce electrical consumption.

The $11 million expansion is part of a $100 million Holt investment plan to upgrade facilities, open new full-service locations, and ensure technicians are equipped with advanced tools and technologies.

Read more at Rental Equipment Register.
Texas real estate news

James Avery production to Kerrville 

(12/4/2014)

KERRVILLE, KERR COUNTY - Jewelry retailer James Avery is planning to build a 53,600-sf production facility in Kerrville that will create 360 new jobs over the next two years.

The family-owned jewelry retailer has picked out a 30-acre site across from the Kerrville Municipal Airport on SH 27 for the new facility. It is expected to be completed in summer 2016.

The company will move 180 employees from its main Kerrville campus to the new location and create about 360 new positions bringing the total employment to more than 500.

Nationwide, James Avery operates a total of 70 stores across the South and Midwest, including ten in San Antonio, and employs more than 2,000 people.

Read more at the San Antonio Business Journal. Listen to Podcast 237 for this story and more.

San Antonio gets OK for Guadalupe power plant expansion 

(12/4/2014)

SAN ANTONIO - Guadalupe Power Partners L.P., a natural gas-fired plant located 30 miles northeast of San Antonio, has received a final greenhouse gas construction permit from the Environmental Protection Agency.

The plant is planning to add two simple-cycle combustion turbines of 227 megawatts electric generating capacity to the existing 1,000 megawatt station.

The additions are expected to bring more than $125 million in capital investments and increased jobs.

The total greenhouse gas emissions from the proposed project will be 611,655.16 tons annually.

Read more at the San Antonio Business Journal.
Texas real estate news

San Antonio named one of the most affordable housing markets 

(12/3/2014 10:00:00 AM)

SAN ANTONIO - Want to buy a home in San Antonio? Well, how much do you earn? If the answer to the second question is at least $46,231, then you're in luck.

The above dollar amount represents the annual salary that one must earn in San Antonio in order to be able to afford a median-priced home — per the latest analysis by HSH.com.

The median price of a home in San Antonio is $186,400, according to HSH.com — which used data from the National Association of Realtors to help compile its latest report.

The website ranked 27 markets and San Antonio came in at number 10. The Alamo City was the most affordable Texas market on the list.

Read more at the San Antonio Business Journal.

REOC: San Antonio 3Q 2014 medical office market 

(12/3/2014 8:45:00 AM)

SAN ANTONIO - The performance of local medical office properties continues to be impacted more by the conversion of non-traditional properties to medical use, migration to user-owned facilities and cost-saving consolidations rather than a renewed scrutiny of health care reform.

These trends tend to temper leasing activity that was previously concentrated within medical-only office buildings. As a result, separately-tracked medical-only office buildings experienced a relatively flat performance in third quarter.

Despite the 3Q 2014 gain, the addition of new supply moved the citywide vacancy up to 18.4 percent compared to 17.5 percent in 2Q 2014.

REOC San Antonio: 3Q 2014 Medical Office Building*
All Types Citywide CBD Non-CBD
3Q 2014 3Q 2013 3Q 2014 3Q 2013 3Q 2014 3Q 2013
Inventory 6,752,278 6,559,753 1,064,453 1,012,037 5,687,825 5,547,716
Direct Vacant 1,241,937 1,215,418 132,027 86,750 1,109,910 1,127,648
Vacant 18.4% 18.5% 12.4% 8.6% 19.5% 20.3%
Average rent $23.79 $23.80 $20.49 $20.71 $24.40 $24.39
3Q absorption 8,078 4,398 -28,980 0 37,058 4,398
YTD absorption 154,248 205,797 -29,880 35,591 184,128 170,206

*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 Medical under San Antonio Market Data Sources.

Coming out of its shell: Peanut Lofts opening in San Antonio 

(12/1/2014 9:41:00 AM)

SAN ANTONIO - The Peanut Factory Lofts, 939 S. Frio, will offer housing to students at the downtown campus of UTSA and is set to open in December.

The Class A lofts will be made up of 98 units — 30 percent of which will be leased to students and university professionals, according to San Antonio’s Center City Development Office.

“We're just a few blocks from UTSA, so it will be quite a few students who live in this complex,” said Russell Yeager, vice president of BIG RED DOG San Antonio. “And it will also be opened up to just general market rate folks who want to be in the area, so its going to be kind of a mix.”

The silos of the old Birdsong Peanut Factory will be retrofitted to become housing units as well. On top of the silos will be a 3,000-sf penthouse, which has already been leased.

Read more at KSAT News.

REOC: San Antonio 3Q 2014 retail overview 

(12/1/2014 9:30:00 AM)

SAN ANTONIO - Steady employment growth and a healthy housing market continue to bolster the local retail market. Demand for retail space has been steady and widespread, backfilling vacant space across the city.

In all, new leases and expansion generated 89,316 sf of positive net absorption in third quarter which raised the year-to-date total to 485,374 sf of net gain.

As a result, the citywide vacancy rate tightened to 9.4 percent, down from 9.9 percent in 2Q 2014 and 10.7 percent recorded in 3Q 2014.

The citywide average quoted triple net rental rate stepped up to $16.65 per sf per year which is up $0.42 compared to 3Q 2013 for a moderate annual increase of 2.6 percent.

REOC San Antonio: 3Q 2014 Retail*
All Types Citywide CBD / South Non-CBD / North
3Q 2014 3Q 2013 3Q 2014 3Q 2013 3Q 2014 3Q 2013
Inventory 47,011,540 46,934,874 6,375,326 6,365,096 40,636,214 40,569,778
Direct vacant 4,432,875 5,007,231 629,138 773,502 3,803,737 4,233,729
Vacant 9.4% 10.7% 9.9% 12.2% 9.4% 10.4%
Average rent $16.65 $16.23 $15.87 $16.76 $16.72 $16.20
3Q absorption 89,316 187,038 18,977 1,144 70,339 185,894
YTD absorption 485,374  263,583 60,830 16,522 424,544 247,061

*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.

San Antonio: Marcus & Millichap 4Q 2014 apartment report 

(12/1/2014 9:00:00 AM)

SAN ANTONIO - Thriving demand for rental housing in San Antonio is keeping pace with the delivery of hundreds of new apartments and holding vacancy on course to rise only nominally this year, according to Marcus & Millichap's Fourth Quarter 2014 Apartment Research Market Report.

At the end of 3Q 2014, vacancy was tight in nearly all corners of the market. Six of 14 submarkets posted vacancy rates lower than the national average.

Demand growth ran ahead of supply in 3Q 2014, when vacancy slipped 40 basis points to 6.4 percent. However, despite net absorption of 5,000 units in the past 12 months, the vacancy rate is 30 basis points more than one year ago.

The average rent of $838 per month at the end of 3Q 2014 was 2.6 percent more than one year earlier.

Here are the top five submarkets by vacancy rate:

Submarket Vacancy Ranking
Submarket Vacancy
Rate
Effective
Rent
Y-O-Y
Change
New Braunfels/Universal City 3.8% $874 4.7%
Far North Central San Antonio 4.5% $1,161 -2.4%
Central San Antonio 4.9% $967 3.4%
Northwest San Antonio 5.1% $806 2.5%
Far Northwest San Antonio 5.5% $1,121 1.7%


Source: Marcus & Millichap

Click here to see the full ApartmentResearch Market Report for 4Q 2014 from Marcus & Millichap. Also, see Multifamily under San Antonio Market Data Sources for more apartment info.

Tapping Alamo Beer at East Side brewery on Dec. 5 

(12/1/2014)

SAN ANTONIO - Alamo Beer Company's new East Side brewery won't open to the public until March 2015, but the brewery is celebrating with a ribbon cutting ceremony Dec. 5 — which marks the day the company will start production at its new location.

The 18,000-sf brewery, located at 415 Burnet St. just south of the historic Hays St. Bridge, broke ground late last year.

The new operation includes space for beer production, administrative offices, a beer garden and a beer hall. Lake Flato Architects designed the space and Guido Construction Co. built the facility.

In eight years, the brewery will have the capacity to produce up to 41,000 barrels, or 565,000 cases of beer, which could allow the brewery's sales to more than double, according to the company.

Read more at the San Antonio Business Journal.

IBEX Global hiring 1,000 in San Antonio 

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

SAN ANTONIO - IBEX, the Washington, D.C.-based call center firm has announced that it will open a new call center in San Antonio creating up to 1,000 jobs.

The company plans initially to hire 300 customer service and technical support agents in December to support a major telecommunications client, with additional hiring to follow early next year.

Once fully operational, the San Antonio location will represent the company's largest presence in Texas.

IBEX opened its first Texas site in New Braunfels in November 2013 where it now employs more than 750 people.

Read more at the San Antonio Business Journal.

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.

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