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San Antonio-New Braunfels

San Antonio apartment market will soften, continue to climb 

(4/15/2015 8:00:00 AM)

SAN ANTONIO - San Antonio's apartment market will not be immune to the drop in oil prices, but continued increases in employment, construction and rents will bolster its long-term health.

According to Marcus & Millichap's First Quarter 2015 Apartment Research market report, the city's job growth and accelerating interest among investors will be the top drivers for the rental market throughout this year.

Particularly in the north and northwest areas of the city, apartment development will accelerate due to the thousands of professional jobs being created in those regions.

The report found that young professionals are moving into the metro as job openings and hiring's continue to climb, resulting in an increased demand for nearby rental housing.

While rent growth is expected to slow this month, the softening is expected to be temporary — as the pace of deliveries declines toward the end of the year. Once the development pipeline begins to empty, demand will have a chance to catch up with the influx of new supply.

Here are some other highlights from the report:

  • Construction will climb slightly, as builders bring 6,500 apartments to the market this year, following last year's 6,300.
  • Vacancy will rise to 7.9 percent as construction remains elevated this year.
  • Average rent growth will slow from last year's 4.6 percent increase, rising 3.8 percent to nearly $900 a month.
  • Builders completed 2,100 apartment units throughout the first quarter of 2015, and combined, developers have brought 6,400 units into stock over the past 12 months, equating to a 4 percent rise in inventory.


Read more at the San Antonio Business Journal.

Click here for access to the full report from Marcus & Millichap.

KB Home acquires 57 acre in Far Northwest San Antonio 

(4/15/2015)

SAN ANTONIO - KB Home has purchased 57 acres along the Highway 16 corridor for a new community called The Ridge at Bandera, where the builder plans to construct 128 new homes in the foothills of the Texas Hill Country.

Development is scheduled to begin this summer, with an official grand opening anticipated in early 2016. The Ridge at Bandera marks KB Home’s second new development in San Antonio’s Far Northwest in two years.

The Ridge at Bandera is the latest in a series of land acquisitions by KB Home in San Antonio, underscoring the builder’s growth in the area.

So far in 2015, KB Home has opened new home communities at Cross Creek, The Reserve at Southton Ranch and West Village at Creekside.

Three additional communities, Falcon Landing, Miller Ranch and Mirabel, are expected to open for sale later this spring.

Read more at MarketWatch.

DHW Well Service lays off 55 in Victoria 

(4/14/2015)

VICTORIA - DHW Well Service Inc. has filed a public notice that it will be laying off 55 employees at its fabrication facility.

The Carrizo Springs, Texas-based company filed a Worker Adjustment and Retraining Notification (WARN) Act notice with the Texas Workforce Commission on March 30.

The company's fabrication facility off US 77 in Victoria manufactures oil and natural gas separators as well as other equipment for use in the Eagle Ford Shale.

According to the WARN notice, the last day of work for the 55 employees is scheduled for May 22.

DHW Well Service is the latest company operating in the Eagle Ford to report oil and natural gas industry layoffs to the Texas Workforce Commission.

Halliburton recently laid off 60 workers in Alice.

Read more at the San Antonio Business Journal. Click here for more on the Alice story.

Alorica Inc. adding 100 new jobs in San Antonio 

(4/14/2015)

SAN ANTONIO - Alorica Inc. plans to create 100 additional new positions in San Antonio. This brings the total number of jobs the Irvine, California-based company plans to add in the Alamo City to 400.

Alorica, which provides customer management outsourcing services, opened a facility at 11603 Crosswinds Way in February.

It will hold a recruitment event in partnership with Workforce Solutions Alamo on April 16 to fill inbound support positions for one of its clients — a national satellite television provider.

Alorica CEO Andy Lee said the company selected San Antonio to grow its operations because of the city’s skilled workforce and its pro-business culture.

In addition, San Antonio provides the company with a unique opportunity to expand its AloriCares employment initiative to support military and service-disabled veterans and their spouses.

Read more at the San Antonio Business Journal.

Tight fittin'? San Antonio tightest housing market in decade 

(4/13/2015 12:00:00 PM)

SAN ANTONIO - A limited supply of homes for sale is creating a lopsided sellers’ market. San Antonio’s inventory has remained steady at 3.6 months since December.

It is the lowest mark since the Real Estate Center at Texas A&M University began keeping track in 1990.

Even when inventory dipped below four months in the years leading up to the financial crisis of 2007–08, it only reached 3.8 months, and that was only for one month, December 2005.

Most of the action is in the $200,000-and-under range, which accounted for 55.7 percent of existing home sales in February, data compiled by the San Antonio Board of Realtors (SABOR) show.

The median price of existing homes in February was $185,800, a 9.4 percent increase from February 2014. Yet, year-over-year sales for the same month were up considerably, from 1,509 to 1,724 — a 14.2 percent increase.

Mark Dotzour, Chief Economist at the Texas A&M Real Estate Center, and other experts attribute the low inventory of existing homes to a flat market in home construction.

Earlier this year, a leading San Antonio analyst of the new home market calculated San Antonio would see some 9,200 homes being built, about the same delivered in 2014 — there were 25,543 existing home sales in 2014.

In short, builders say, constructing new homes is becoming more expensive. The number of starter homes is dwindling — in San Antonio in 2014, fewer than 500 homes priced at $150,000 were built. Builders say they cannot make a profit at that price.

Read more from the San Antonio Express-News.

Click here March 2015 home sales from SABOR with link to the entire report.

Bank of San Antonio unveils plans for new HQ 

(4/13/2015 8:00:00 AM)

SAN ANTONIO - The Bank of San Antonio will break ground in April on a $14 million headquarters in North Central San Antonio.

The three-story building, totaling 57,000 sf, will be located at 1900 Loop 410 with construction expected to be completed by June 2016.

It will house the Bank of San Antonio and its two non-bank subsidiaries, Bank of San Antonio Insurance Group and San Antonio Capital & Trust.

The Bank of San Antonio and its affiliates employ some 100 people. The bank’s headquarters will relocate to the new building from the Forum Building.

Read more at the San Antonio Business Journal.

San Antonio ALN apartment report March 2015 

(4/13/2015)

SAN ANTONIO - Multifamily overall occupancy ticked upwards over the last three months from 89.3 percent to 89.4 percent. The market absorbed almost 1,000 net rented units in that time.

Over the last year, the region has absorbed almost 4,800 units. Effective rents however stayed flat in the last three months. They gained a mere $5 per unit from $849 to $854.

The La Cantera submarket saw over 6 percent growth in just the last three months. Overall pricing for the whole area is up 5 percent from this time last year.

Only one submarket, Windcrest/Converse/Randolph, saw a small decrease in pricing over the last year.

The chart below represents the top eight submarkets ranked by effective rent.

San Antonio Quarterly Multifamily Market Statistics*
  Occupancy   Effective Rent
Submarket Nov-14 Feb-15 Chg. Abs.** Nov-14 Feb-15 Chg.
Downtown-Riverwalk-
King William
83.9% 86.1% 2.6% 66 $1,232 $1,241 0.7%
Stone Oak-Sonterra 83.4% 85.7% 2.8% 207 $1,170  $1,138 -2.7%
La Cantera-Dominion-
The Rim-Camp Bullis 
90.7% 91.0% 0.2% 4 $1,044 $1,109 6.2%
Greater New Braunfels 96.9% 95.6% -1.3% -32 $1,046 $1,062 1.6%
Northwest-Helotes-
Grey Forest
87.3% 88.7% 1.6% 47 $1,015 $1,012 -0.3%
Boerne-Comfort 96.9% 97.7% 0.8% 9 $995 $988 -0.6%
Alamo Heights-
Terrell Hills-Olmos Park
84.0% 83.1% -1.1% -63 $936 $949 1.4%
Greater Shavano Park-
Elm Creek
88.3% 89.2% 1.0% 99 $905 $914 1.1%
Totals*** 89.3% 89.4% 0.0% 964 $849 $854 0.6%

*Top eight ranked by effective rent.
**Absorption
***Totals include all submarkets.

See the entire U.S. plus Texas markets at ALN March 2015.

Source: ALN Market News

SABOR: San Antonio home sales March 2015 

(4/10/2015 7:15:00 AM)

SAN ANTONIO - San Antonio Board of Realtors (SABOR) has released home sales data for March 2015.

Quick facts include:

• The median price of existing single-family homes increased to $173,750 up 0.1 percent from February 2015.
• Existing single-family home sales increased 25.8 percent from February 2015 for a March 2015 total of 1,782 sold units.
• Condos increased in price to $108,750 up 6.1 percent from February 2015.
• Existing condo sales increased 8.7 percent in March 2015 from February 2015 for a total of 50 sold units.

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

SABOR March 2015 Regional Sales and Price and Activity
MLS Wide Median Price
Feb. 2015
Price Chg.
Feb
. 2014
Units Sold
Feb. 2015
Sales Chg.
Feb
. 2014
SABOR
(single-family)
$173,750 8.6% 1,782 12.0%
SABOR (condo) $108,750 19.8% 50 47.1%
Region Cities*  
San Antonio $164,900 6.4% 1,195 9.4%
New Braunfels $235,000 46.9% 83 36.1%
Boerne $347,500 41.8% 56 51.4%
Converse $146,700 29.2% 51 41.7%
Schertz $184,975 11.5% 44 7.3%
Helotes $293,750 24.3% 42 31.3%
Cibolo $184,500 2.5% 42 13.5%

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

Source: San Antonio Board of Realtors (SABOR)

One click recent news for San Antonio, the Fiesta City.

San Antonio Olmos Park development underway for 26 homes 

(4/10/2015)

OLMOS PARK, BEXAR COUNTY - PSW Real Estate, an Austin-based builder of single-family homes, has started construction on 26 homes in Olmos Park — its first development project in the San Antonio market.

The homes will range from $500,000 to $680,000 and will be located on the south side of East Olmos Dr., between Judson St. and Shook Ave., a block east of the roundabout.

The company expects to deliver about five homes by year’s end, with the rest being completed throughout 2016 and early 2017.

The company, which started in 2005 in Austin, also plans to build 32 homes in the 330 block of Clay St. in Southtown, and ten homes near the intersection of Broadway and Terrell Rd. in Alamo Heights.

Read more at the San Antonio Express-News.

AT&T makes hiring call in San Antonio 

(4/7/2015)

SAN ANTONIO - AT&T has created more than 200 part-time and full-time positions that it needs to fill across all the company’s operations in San Antonio.

Most of these are newly created positions to handle the company’s growth in the San Antonio market.

AT&T is looking to hire people to fill retail sales jobs at its 16 company-owned stores in the San Antonio area, as well as network technicians and call center positions.

The company is making the hires in support of Project Velocity IP, a multibillion-dollar investment plan to expand and enhance its network.

Read more at the San Antonio Business Journal.

Biotest moves to larger facility in San Antonio 

(4/6/2015)

SAN ANTONIO - Biotest Pharmaceuticals recently relocated the company’s plasma collection facility in San Antonio to a new 18,000-sf facility. The new facility is located at 618 NW Loop 410.

The Florida-based company develops immunology bio therapeutic products. The plasma donated at Biotest Plasma Centers is used to manufacture products that are used to treat life-threatening disorders, including Hepatitis B.

The new facility will also allow the company to expand its workforce to more than 50 employees. The company is hiring medical personnel and phlebotomists.

Read more at the San Antonio Business Journal.

City View Village sold for $6.3M in San Antonio 

(4/6/2015)

SAN ANTONIO - Whitestone REIT bought City View Village in San Antonio for $6.3 million, marking the Houston-based real estate investment trust’s third property in the San Antonio area.

City View Village is a Class A, neighborhood community center that consists of 17,870-sf of leasable space.

City View Village is located across the street from another Whitestone property, The Strand at Huebner Oaks. Whitestone bought The Strand from the previous owners last year for $18 million.

Tenants in City View Village include Panda Express, Freebirds World Burrito, Palm Beach Tan, Papouli’s Greek Grill, Jimmy John’s, Big Hops Growler Station and Fatboy Burgers and Dogs.

The retail center is 100 percent leased.

Read more at the San Antonio Business Journal.

Documation signs for new San Antonio HQ near Shavano Park 

(4/1/2015)

SAN ANTONIO - Documation of San Antonio Inc. has acquired the building that previously housed PCI Educational Publishing on Lockhill Selma Rd. near Shavano Park and is converting the 46,500-sf structure into its new corporate headquarters.

The company, which provides a number of business solutions and support services, employs roughly 320 people across Texas and 150 in San Antonio.

It has experienced significant growth and has literally run out of room in its current headquarters, according to Documation President Scott Woolfolk.

Documation was established in San Antonio in 1997. It has since expanded its footprint to several additional markets, including Austin, Dallas and Houston. The company’s new headquarters building will be nearly twice the size of its previous facility.

The relocation will allow Documation to develop two state-of-the-art showrooms where it can offer customers a look at offices of the future and better market its products. The company plans to open the new headquarters in May.

Read more at the San Antonio Business Journal.

H-E-B to develop more retail space in North Central S.A. 

(4/1/2015)

SAN ANTONIO - The Market at Stone Oak shopping center will look a bit fuller by this time next year, and the driver behind the additional pad-site construction is none other than grocery company H-E-B.

H-E-B Development — the grocer's arm that constructs, leases, and manages H-E-B anchored neighborhood, community, and regional shopping centers in Texas — will be starting $1.1 million worth of construction this May to build out more retail space at 23643 Wilderness Oak.

Currently, H-E-B is the anchor tenant for the shopping center, which is the location of the grocer's first sit-down restaurant concept and an upscale 80,000-sf market, both of which debuted last year.

The Market at Stone Oak is part of a larger revitalization project H-E-B took on back in 2010. Its "Invest in Texas commitment" involved renovating existing stores and building new ones in an effort to contribute money and jobs to the local economy.

The Market at Stone Oak development is looking a lot like some recent real estate investment strategies being made in the North Central area.

An increasing number of outside investors are buying up older properties in the growing areas of San Antonio, and putting in some renovation capital to make the sites more upscale.

Read more at the San Antonio Business Journal.

Halliburton lays off 60 employees inside Eagle Ford Shale 

(4/1/2015)

SAN ANTONIO - Following layoffs by oil giant Halliburton at its Eagle Ford Shale facility in Alice, 60 people are now unemployed. The move comes a month after Halliburton announced it would be laying off thousands of workers worldwide.

Baker Hughes announced in February that it would lay off 51 people at its facility in Alice. Shareholders of Halliburton and Baker Hughes voted this week in favor of the two companies' planned merger, according to Forbes.

Oilfield Trucking Solutions, a contractor for Oklahoma City-based Chesapeake Energy Corp., laid off 93 people at its facility in Pearsall in early March.

Texas Workforce Commission data shows that new job postings for oil and natural gas jobs has fallen by 40 percent in the Eagle Ford Shale since December.

Layoffs Reported in the Eagle Ford Shale
Company Date City Layoffs
Halliburton March 23, 2015 Alice 60
Oilfield Trucking
Solutions
March 4, 2015 Pearsall 93
Baker Hughes Feb. 9, 2015 Alice 51
Sentry Supply Feb. 2, 2015 Carrizo
Springs
4
    Totals 208


Read more at the San Antonio Business Journal.

For more employment stats, see the Texas Workforce Commission.

CPS donating land, building to the San Antonio Museum of Art 

(4/1/2015)

SAN ANTONIO - CPS Energy’s board has voted to donate a building and 3.5 acres to the San Antonio Museum of Art. CPS’ property at 326 W. Jones Ave. lies just west of the museum at 200 W. Jones Ave.

The 82,902-sf building to be turned over to the museum is currently occupied by about 60 CPS employees who will be moved to other locations.

The land and building likely will not be conveyed to the museum until the end of 2016 when the relocation of the employees is completed.

CPS additionally owns about 3.5 acres behind that lot and along the San Antonio River that will be sold as part of a competitive bidding process.

Read more at the San Antonio Express-News.

Berkadia: San Antonio 2014 Multifamily Sales Summary 

(3/31/2015)

SAN ANTONIO - Significant activity persisted in the multifamily-investment market in 2014, according to Berkadia's 2014 Sales Summary.

In 2013, a majority of the deals consisted of 1960s to 1980s stock.

During 2014, however, investors targeted newer assets, with approximately 55 percent of transactions comprised of apartment communities built from 1980 to 2000. Consequently, dollar volume rose 9.6 percent year over year to $1 billion.

More than a third of transactions occurred in the Bexar County/Other and Far North Central submarkets. Prices in the Bexar County/Other submarket advanced 9.2 percent year over year to $118,922 per unit.

In the Far North Central submarket, the average price reached $72,314 per unit, a gain of 47.1 percent. Metrowide, prices increased 27.3 percent to $82,166 per unit.

Cap rates fell 30 basis points in the last 12 months, reaching 6.5 percent in December. Among the most-traded properties, those built from 1980 to 2000, first-year yields averaged 6.7 percent, the same as year-end 2013.

Year-over-Year Sales Summary 2014
  100+ Unit Sales < 100 Unit Sales
Avg. Price
Per Unit
Avg. Price
Per SF
# of
Sales
Total
Volume
Avg. Price
Per Unit
Avg. Price
Per SF
# of
Sales
Total
Volume
2013 $70,757 $76.99 48 $895,574,525 $41,534 $36.34 13 $33,220,220
2014 $85,151 $91.60 44 $990,928,479 $63,406 $47.30 7 $27,151,824
Change 20% 19% -8% 11% 53% 30% -46% -18%


Click here for Berkadia's entire sales summary and 2015 forecast.

Source: Berkadia

San Antonio attracts record number of international visitors 

(3/30/2015 9:30:00 AM)

SAN ANTONIO - San Antonio International Airport saw a 9.1 percent increase in international passenger traffic in January, with more than 40,900 travelers arriving from other countries.

That’s the largest international passenger count ever recorded for the month of January in San Antonio.

The latest numbers mean that San Antonio is off to a good start in its push to attract more visitors from outside the United States.

International travelers typically stay longer and spend more money when they visit. As a result, San Antonio officials have worked to attract this type of traveler in recent years.

Overall, 615,622 passengers flew into San Antonio International in January — 1.3 percent more than in January 2014.

San Antonio International Airport Statistics
  January
Passengers 2015 2014 Chg.
Domestic Enplanements 284,468 282,587 0.7%
Domestic Deplanements 290,248 287,551 0.9%
Total Domestic Passengers 574,716 570,138 0.8%
InternationaI Enplanements 20,476 19,268 6.3%
International Deplanements 20,430 18,220 12.1%
Total International Passengers 40,906 37,488 9.1%
Grand Total all Passengers 615,622 607,626 1.3%


Source: San Antonio International Airport

Read more at the San Antonio Business Journal.

For a PDF of the January and December statistics, click  here.

Sold: 334-unit Sun Park Aparments in San Antonio 

(3/30/2015)

SAN ANTONIO - Berkadia has arranged the sale of Sun Park Apartments, a multifamily property located at 1830 Bandera Rd.

Sun Park Apartments was built in 1985. The fully occupied, 334-unit property features studio, one- and two-bedroom units.

A private investor from San Diego purchased the property. A private investor from Los Angeles was the seller.

Read more from Texas Real Estate Business.

San Antonio apartment tally on the rise 

(3/28/2015)

SAN ANTONIO - San Antonio’s multifamily market is ramping up significantly with more than 10,700 units in the works after delivering 4,800 units last year, according to Austin Investor Interests.

Among the projects completed in 1Q 2015 include the 412-unit Legacy Brooks, the 336-unit Ventura Ridge, the 297-unit Thirty Oaks and the 252-unit Gardens of San Juan Ridge.

Even with the new units added last year, absorption remained positive throughout 2014. The average occupancy at the end of the year was 92 percent and the average effective rental rate was $1.01 per sf.

There were 66 multifamily properties traded in 2014 and volume decreased about 20 percent from 2013, yet the value of the traded assets was up 43 percent. The average sale price per unit was $102,000.

What it all means is that the San Antonio market will continue to see much of the same growth in 2015. The new unit additions will challenge occupancy during the slower quarters of the year but will continue to push rental rates up.

Read more at Bisnow.

San Antonio: 114 acres auctioned for $20M in 20 minutes 

(3/27/2015)

SAN ANTONIO - Not many people are willing to drop more than $20 million in less than 20 minutes, but that is exactly what Robert Schumacher did for the largest undeveloped property left in Northwest San Antonio.

The site, a 114-acre property on UTSA Blvd. along I-10, was sold in a bankruptcy auction for $20.3 million. Schumacher said he has been aggressive in value-add investments, but wanted a site big enough for a master-planned community.

The auctioned property, in particular, is in the middle of a significant growth spurt in terms of population, household income, employment and spending.

Nearby developments include La Cantera Resort, the Rim shopping center and company headquarters for Valero, USAA, South Texas Medical Center and Security Service Federal Credit Union.

In other words, there is a lot happening in the area, with more development on the way.

Read more at the San Antonio Business Journal.

More San Antonians hired as unemployment rate dips in Feb. 

(3/27/2015)

SAN ANTONIO - San Antonio’s unemployment rate stood at 3.8 percent for the month of February 2015 as more people in the city are finding work.

This compares to a local unemployment rate of 4.1 percent in January and 5.2 percent in February 2014.

Meanwhile, Texas’ unemployment rate fell to 4.3 percent in February as employers added 7,100 nonagricultural jobs during the month and 357,000 positions added over the year.

The state’s unemployment rate is down from 4.4 percent in January. Five of the 11 major industries tracked by the Texas Workforce Commission added jobs in February.

The industry sector that experienced the largest monthly increase in seasonally adjusted job growth was the trade, transportation and utilities industry, which added 16,300 jobs.

The Leisure and Hospitality sector added 9,700 positions in February and 55,500 positions over the year. Construction, Other Services and Financial Activities added 2,800 jobs combined.

Read more from the San Antonio Business Journal.

For more employment stats, see the Texas Workforce Commission.

Texas: 7,400 construction market boomed in 2014 

(3/25/2015)

TEXAS - Major metropolitan markets in Texas showed there were more than 7,400 construction projects released for bid during 2014, with a total contract value of more than $35 billion, according to a new report from BidClerk.

This compares to more than $20 billion in total contract value reported in 2013.

In the San Antonio metropolitan region, there were 876 new construction projects released for bid in 2014, with a combined contract value of $5.13 billion. The prior year, there were 923 new construction projects released for bid in 2013, with a combined contract value of $3.01 billion.

In the Austin metropolitan region, there were 939 new construction projects released for bid in 2014, with a combined contract value of $3.39 billion.

In the Houston metropolitan region, there were more than 2,400 new construction projects released for bid, with a combined contract value of $5.6 billion.

In the Dallas metropolitan region, there were more than 2,700 new construction projects released for bid, with a combined contract value of $7.3 billion.

Read more at the San Antonio Business Journal.

CST Brands corners 365,000-SF facility in San Antonio 

(3/25/2015)

SAN ANTONIO - CST Brands, the parent company of Corner Store, has opened a 365,000-sf distribution center in far North San Antonio.

The warehouse, located at 19500 Bulverde Rd., serves as the main distribution hub for food and merchandise for about 600 Corner Store locations across Texas.

The warehouse sits on a 77-acre campus in San Antonio that also has about 146,000 sf of office space that will serve as the company's future headquarters in 2016.

CST Brands bought the $43 million property, in part, through a city and county incentive package and $2 million worth of cash grants.

The company's headquarters are currently located at Valero Energy's corporate offices.

Read more at the San Antonio Business Journal.

Outskirts of San Antonio to reap rewards of rental boom 

(3/24/2015 11:00:00 AM)

SAN ANTONIO - Renter spending throughout San Antonio contributed nearly $3.5 million to the city's economy in 2013, according to a study released by the National Apartment Association and the National Multifamily Housing Council.

Apartment construction is heaviest in Far West San Antonio, Far Northwest San Antonio and Far North Central San Antonio, according to Mike Ruse, President of the San Antonio Apartment Association.

Those areas are where the majority of offices are located and, therefore, where demand for apartments is highest.

The rental boom — both locally and nationally — has been fueled by demographic changes like the growing millennial population and a rediscovery of metropolitan urban cores.

The main issue with San Antonio, however, is that it is still in the process of establishing an urban core. Most of the development in recent years has been cities within cities.

Read more at the San Antonio Business Journal.

Former K-Mart sells in Northeast San Antonio 

(3/23/2015)

SAN ANTONIO - Arizona-based Accelerated Development Services has purchased the former K-Mart site off Pat Booker Rd. in a joint venture with Fortune International Properties.

Mega Furniture will occupy 34,000 sf of the former K-Mart location. It will be the third location for the Arizona-based furniture company. The rest of the space will be redeveloped for more tenants.

The property is located at 3150 Pat Booker Rd., near the southeast corner of the I-35 and Loop 1604 interchange.

Accelerated and Fortune will redevelop the existing building, which includes building 28,000 sf of new space on the eastern end of the site.

Once construction is completed, the project will include over 120,000 sf.

Read more at the San Antonio Business Journal.

Bulverde: home on the 780-acre range 

(3/13/2015)

BULVERDE, COMAL COUNTY - Lennar’s San Antonio Division has purchased the 780-acre 4S Ranch in Bulverde.

The Texas Hill Country location will become the site of Lennar’s newest master-planned community, which will include over 1,800 homesites.

Development plans for 4S Ranch include preservation of over 200 acres of open space for homeowners to enjoy, as well as two amenity centers which will include a pool and clubhouse, parks and miles of trails that will wind through the community.

Lennar has also set land aside for a future Comal ISD school.

The community will also feature select acreage home sites and Lennar’s revolutionary NextGen — The Home Within a Home, which is ideal for people with dual living situations.

Read more at PRWeb.

SABOR: San Antonio home sales Feb. 2015 

(3/11/2015 8:00:00 AM)

SAN ANTONIO - San Antonio Board of Realtors (SABOR) has released home sales data on February 10, 2015.

Quick facts include:

• The median price of existing single-family homes increased to $173,100, up 4.9 percent from January 2015.
• Existing single-family home sales increased 10.6 percent from January 2015 for a February 2015 total of 1,370 sold units.
• Condos increased in price to $102,500, up 7.9 percent from January 2015.
• Existing condo sales increased 9.8 percent in February 2015 from January 2015 for a total of 45 sold units.

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

SABOR Feb. 2015 Regional Sales and Price Activity
MLS Wide Median Price
Feb. 2015
Price Chg.
Feb
. 2014
Units Sold
Feb. 2015
Sales Chg.
Feb
. 2014
SABOR
(single-family)
$173,100 10.4% 1,370 7.2%
SABOR (condo) $102,500 16.5% 45 -4.3%
Region Cities*  
San Antonio $162,750 5.7% 936 3.4%
New Braunfels $207,500 11.4% 50 0.0%
Converse $135,000 14.4% 40 37.9%
Boerne $287,250 -7.0% 38 52.0%
Cibolo $185,000 20.9% 33 32.0%
Schertz $173,625 5.3% 32 60.0%
Helotes $241,400 -7.7% 25 13.6%
Canyon Lake $159,250 -0.5% 16 -5.9%
Seguin $251,500 110.9% 16 0.0%


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

Source: San Antonio Board of Realtors (SABOR)

tag: housing data, housing news

San Antonio Embassy Suites selling for $30 million 

(3/11/2015 7:55:00 AM)

SAN ANTONIO - The 261-room Embassy Suites Hotel – San Antonio Airport is being sold for $29.5 million. The purchaser has paid a $500,000 non-refundable deposit toward the purchase price. The seller, FelCor Lodging Trust, expects to close the sale in March.

Zachry Hospitality, the buyer, is expanding its portfolio and plans to make substantial improvements to the property.

Zachry Hospitality will manage the Embassy Suites property, its third hotel acquisition to date. The company also owns the Hilton Palacio del Rio and Staybridge Suites Downtown hotels, as well as the historic Sunset Station entertainment complex.

Read more at the San Antonio Business Journal and Business Wire.

Nissan of Boerne opens 60,000-SF dealership 

(3/11/2015)

BOERNE - Nissan of Boerne, a 60,000-sf Nissan dealership that is located at 31805 I-10 West, has opened its doors.

Nissan of Boerne is the largest Nissan dealership in San Antonio (based on sf). It offers 33 state-of-the-art service bays, over 600 new and pre-owned vehicles and will eventually bring up to 100 new jobs to the area.

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

Read more at PRNewswire.

Regency at Lookout Canyon sold in San Antonio 

(3/11/2015)

SAN ANTONIO - Utah-based Bridge Investment Group Holdings has closed on the purchase of The Regency at Lookout Canyon — a 320-unit multifamily complex located in North San Antonio, near the prestigious Stone Oak community.

Rents currently start at $850 for a one-bedroom and go up to more than $1,800 for a four-bedroom apartment. Occupancy at the time of the sale was 95 percent.

The Regency property sale comes on the heels of two other large sales made last month — Signature Ridge, a 612-unit property that was purchased by Railfield Realty Partners for $44.6 million; and The Landmark, a 426-unit complex purchased by Presidium.

Read more at the San Antonio Business Journal.

REOC: San Antonio 4Q 2014 office 

(3/11/2015)

SAN ANTONIO - Despite a relatively quiet fourth quarter, the San Antonio office market closed the year with some impressive numbers, according to the survey of nearly 29 million sf of office lease space.

New leases and expansions inked in 4Q 2014 generated 42,716 sf of positive net absorption, which raised the year-end total to 685,675 sf — the highest level recorded since 2006.

New construction delivered nearly 250,000 sf of new office lease space in 2014 with more than 900,000 sf of speculative space moving through the development pipeline.

Meanwhile, rental rates continue their slow but steady march upward. The average quoted full-service rental rate for area office space now stands at $20.37 per sf per year on a full-service basis which is up $0.65 or 3.3 percent compared to the year-end 2014.

REOC: San Antonio 4Q 2014 Office
All Classes Citywide CBD Non-CBD
4Q 2014 4Q 2013 4Q 2014 4Q 2013 4Q 2014 4Q 2013
Inventory 28,890,361 28,288,300 5,758,224 5,673,787 23,132,137 22,614,513
Direct vacant 5,280,857 5,504,785 1,561,877 1,683,367 3,718,980 3,821,418
Vacant 18.3% 19.5% 27.1% 29.7% 16.1% 16.9%
Average rent $20.37 $19.72 $21.53 $19.95 $20.21 $19.69
4Q absorption 42,716 34,509 -5,361 -1,370 48,077 35,879
YTD absorption 685,675 325,994 211,270 88,196 474,405 237,798

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

Source: REOC San Antonio.

See REOC's full report here.

See San Antonio Market Research for more categories.

REOC: San Antonio 4Q 2014 industrial 

(3/10/2015)

SAN ANTONIO - The San Antonio industrial market closed 2014 with a vacancy rate of 7.2 percent, only slightly higher than where it began the year, despite the delivery of more than 377,000 sf of new supply, according to the survey of more than 33.5 million sf of industrial lease space.

Availabilities are rather limited for companies looking to relocate or expand here in San Antonio but there is nearly 550,000 sf of industrial space currently under construction within additional projects proposed.

Activity in 4Q 2014 did flatten which resulted in 36,237 sf of negative net absorption. Results for the year, however, remained positive with 505,802 sf of net gain in occupied space.

REOC San Antonio: 4Q 2014 Industrial*
All Types Citywide CBD Non-CBD
4Q 2014 4Q 2013 4Q 2014 4Q 2013 4Q 2014 4Q 2013
Inventory 33,525,736 33,548,079 233,395 233,395 33,292,341 33,314,684
Direct vacant 2,397,202 2,294,405 0 28,548 2,397,202 2,265,857
Vacant 7.2% 6.8% 0.0% 12.2% 7.2% 6.8%
Average rent $7.76 $7.58 N/A $3.60 $7.76 $7.61
4Q Absorption -36,237 1,299,611 0 0 -36,237 1,299,611
YTD Absorption 505,802 2,478,132 28,548 11,912 477,254 2,466,220

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

Source: REOC San Antonio.

For the full report, click here.

For more stats, see Industrial under San Antonio Market Research.

San Antonio: Shavano Park to gain senior living center 

(3/10/2015)

SAN ANTONIO - Shavano Park Senior Living Center has opened a leasing office to accept residences for the assisted living and memory care center by the fall. The leasing office is located at 3220 North Loop 1604 West.

Once construction is completed, the senior center will have 68 apartments, including 40 assisted-living and 28 memory care residences.

The complex will come equipped with studio, one- and two-bedroom assisted-living apartments plus separate private memory care apartments.

The developer of the complex is building the center in Shavano Park because of the property's close proximity to local hospitals and other healthcare providers, as well as shopping and dining.

Read more at the San Antonio Business Journal and Shavano Park.

Kerrville follows Freedom's Path to disabled senior veterans 

(3/10/2015)

KERRVILLE - Willie Askey has more than a passing interest in Freedom’s Path, a $10.5 million housing complex for disabled veterans that was first proposed for construction here more than three years ago.

The Army veteran who served with allied occupying forces after World War II has closely followed its herky-jerky progress because he hopes to reside in the development.

Now earthmoving equipment and subcontractors are preparing the site for Phase I of the new Freedom's Path apartments for disabled senior veterans.

The planned size of the vets' housing is 49 units plus two guest suites, according to Dan Cook of S Cook Construction.

Plans for Phase I show 27 one-bedroom, one-bath apartments, as well as 22 two-bedroom, one-bath units. Units will range from 710 sf to 890 sf.

The complex will have a three-story building for residences, and an attached one-story clubhouse that will contain a kitchen, dining room, media room and office.

Plans indicate that the facility should be completed by December 2015.

The attraction and benefit of the housing will focus on living in a community of other veterans with similar life conditions and experiences, and living in immediate proximity to the at the Kerrville VA Medical Center (VAMC) where the main locus of needed services and benefits are to be found.

There is a potential plan for a Phase II building, but for now, contractors and subcontractors are only working on the first Phase I units.

Craig Taylor of Communities for Veterans anticipates no trouble finding residents to fill the complex, noting an estimated 6,400 veterans are among Kerr County’s population of roughly 50,000.

Read more at the Hill Country Community Journal and the San Antonio Express-News.

San Antonio: former HEB-anchored center brings $16 million 

(3/9/2015 7:30:00 AM)

SAN ANTONIO - ALTO Real Estate Fund has bought a 100,000-sf shopping center formerly anchored by HEB in North Central San Antonio for $16 million from a private investor.

The center, which was bought with Dallas-based TCP Realty Services, was anchored by HEB until the grocer vacated its 66,000-sf space in 2008. The shopping center is at the intersection of Huebner Rd. and Northwest Military Dr.

HEB was the former owner of the center and had since been subleasing one-third of the store to fitness center chain Planet Fitness until 2025. The remainder of the formerly ground-leased portion of the center has since remained vacant.

Peter Auerbach, ALTO's chief investment officer, said "We've bought out H-E-B's space and now control it. We won't be able to put a grocery store in because of restrictions HEB included in the sale, but there's a lot of pent-up demand from the space sitting unleased. A flood of leasing activity has been coming in since that opened up."

TCP's portfolio also includes the West Side's Las Palmas Shopping Center, coincidentally anchored by an HEB.

Read more at the San Antonio Business Journal.

San Antonio office transactions 

(3/9/2015)

SAN ANTONIO - The local office market garnered some attention lately. Three leases of 30,000 sf or more have been signed.

Mega Furniture USA will take 55,000 sf of space previously held by The Hercules Tire and Rubber Company. The space is located at City Park on NE Loop 410.

Move Solutions has renewed its lease at 4502 Macro Dr. for 35,000 sf.

Gold's Texas Holdings Group Inc. has leased nearly 30,000 sf on NW Military Hwy.

Read more at the San Antonio Business Journal.

San Antonio MOB plus senior-living planned for Huebner Rd. 

(3/5/2015)

SAN ANTONIO - A medical office building is planned for a site on Huebner Rd. near the South Texas Medical Center. Initial plans call for a roughly $11 million, two-story building encompassing 36,000 sf.

Developers of the Christopher Medical Office Building at Grace Point already anticipate that demand for space in the area will necessitate adding a third floor, which would expand the facility's footprint to 54,000 sf.

It will take about eight months to build the medical office building. The campus will also include a senior-living development — the Celeste at Grace Point.

Read more at the San Antonio Business Journal.

Stream's cool acquisition cues hot industrial market in S.A. 

(3/4/2015 8:00:00 AM)

SAN ANTONIO - Stream Realty Partners has bought 400,000 sf of industrial space, nearly 170,000 sf of which is refrigerated and freezer space.

The commercial real estate firm bought property at 5711 FM 78 — a Class A food-grade distribution facility that was a former warehouse for Houston-based Sysco before it moved to New Braunfels.

The deal also includes warehouse and truck maintenance facilities at 5235 and 5246 Tacco Dr., respectively.

The firm will be putting in $2 million in renovations for all three sites, including paint, concrete repair and landscaping upgrades.

Read more at the San Antonio Business Journal.

San Antonio: Line forming for RadioShack vacancies 

(3/4/2015)

SAN ANTONIO - For all of those retailers looking at RadioShack's departure as an opportunity to expand in the San Antonio area: Get in line.

The closures of 16 RadioShack locations is expected to bring about 40,000 sf of retail space to the market, and there will be plenty of competition for it.

Retailers such as Dallas-based MOOYAH, Hand & Stone, PRO Martial Arts and Pita Pit — which all have existing locations in Dallas, Houston, and Austin — have expressed interest in building a presence in the San Antonio area through the vacancies.

Read more at the San Antonio Business Journal.

Investor picks Cotton Crossing in New Braunfels 

(3/4/2015)

NEW BRAUNFELS - A California-based private investor has purchased the 118-unit Cotton Crossing apartment complex, signaling a trend that will continue to pick up speed as existing apartment complexes are renovated in exchange for higher rents.

The investor owns other properties along the I-35 corridor, but the Cotton Crossing property is the first that has been this far south.

The transaction follows a series of deals in which existing apartment complexes in desirable areas have been scooped up by investors or developers to renovate and turn over for higher rents.

Railfield Realty Partners' purchased Signature Ridge, a 612-unit complex in the medical center area, for $44.6 million last month. The firm will be putting in about $4 million for property renovations and, as a result, rents will increase by about 10 percent to 15 percent.

Along the same lines, Presidium Group purchased a 426-unit apartment complex in the medical center neighborhood that it will be spending $4 million to renovate. Following the interior and exterior upgrades, rents are also expected to climb.

Read more at the San Antonio Business Journal.

ARA: San Antonio multifamily 4Q 2014 

(3/3/2015 8:15:00 AM)

SAN ANTONIO - ARA Real Estate Investment Services released its fourth quarter 2014 multifamily data. The ARA report includes "Historic Fundaments" from 2002–2014 — total units, new supply, absorption, occupancy, average rental rate and more.

A sample of other information is below.

Occupancy and Rental Rates
Class Occ. Average
Rent
Average
Rent/SF
Class A 94.0% $1,115 $1.22
Class B 93.5% $1,014 $1.09
Class C 92.2% $689 $0.89

 

Cap Rates
Class Q4 2014
Urban Class "A"  5.00%–5.50%
Suburban Class "A"  5.25%–5.75%
Class "B" 5.75%–6.75%


Source: ARA Real Estate Investment Services

See ARA's 4Q 2014 full report here.

Embassy Suites trio selling for $62M; two in San Antonio 

(2/27/2015 7:44:00 AM)

SAN ANTONIO - Two hotels in San Antonio owned by FelCor Lodging Trust Inc. — and another in Orlando — will be sold for a total of $62 million, according to the company's fourth quarter financial reports.

Irving-based FelCor will sell the 261-room Embassy Suites-San Antonio Airport hotel and the 216-room Embassy Suites-San Antonio Northwest hotel. The transaction should close in March 2015.

Read more at the San Antonio Business Journal.

San Antonio Children's Hospital adds top-level trauma center 

(2/25/2015)

SAN ANTONIO - Grocery giant H-E-B is giving $5 million to Children’s Hospital of San Antonio to help transform the downtown pediatric hospital’s emergency department into a sophisticated, top-level trauma center.

The Children’s Hospital of San Antonio unveiled the first phase of its new emergency room. The first phase will span 15,000 sf and feature 28 private patient rooms.

The department also will contain two trauma rooms capable of caring for up to eight children at a time — four patients in each room, hospital officials said.

The improvements are part of the ongoing renovations to transform Children’s Hospital, part of the Christus Santa Rosa Health System, into a top-tier, stand-alone pediatric hospital featuring a residency program.

The emergency room will grow even larger in the next year to 18 months, expanding to 30,000 sf and accommodating 48 beds in private rooms.

That will be more than four times larger than the previous emergency room, which was 7,000 sf.

Read more at the San Antonio Express-News.

A dozen Ross Dress for Less stores now in San Antonio 

(2/25/2015)

SAN ANTONIO - Ross Dress for Less will open its 12th location in San Antonio on the Northeast Side.

The discount apparel and home furnishings store will officially open in March. It will be located in the Nacogdoches Village shopping center at the intersection of Nacogdoches and O’Connor.

Ross will hire about 50 full- and part-time employees to staff the nearly 25,000-sf location.

The Nacogdoches store will be Ross’s 171st in Texas. Ross currently operates 11 stores in San Antonio.

Read more at the San Antonio Express-News.

Wheatley Courts Eastside San Antonio with $27M Phase Two 

(2/25/2015)

SAN ANTONIO - Eastside revitalization will take a step closer to fruition when phase two of the Wheatley Courts redevelopment breaks ground next month.

The $27 million project is a fraction of the Eastside Promise Zone, a community-wide push to spur economic, education, housing, employment and health care investment for the East Side.

The property was demolished September 2014 to make way for the new 417-unit, mixed-income community built with funds the San Antonio Housing Authority, or SAHA, received from the U.S. Department of Housing and Urban Development in December 2012.

By December 2017, Wheatley Courts will be transformed into the mixed-income community that will build off the neighboring Sutton Oaks property's 286 mixed-income units.

As part of its master-planned neighborhood, SAHA will also focus on crime prevention, increasing park space, and establishing a community garden and co-op.

Read more at the San Antonio Business Journal.

MPF: San Antonio multifamily trends 4Q 2014 

(2/24/2015)

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

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.

Still, San Antonio’s relatively strong performances coming out of the recession led to increased apartment development, especially in northern submarkets along the metro’s growth path.

Properties Sampled: 675 Units Sampled: 143,254 Submarkets: 14


What changed this quarter? In fourth quarter 2014, demand slipped into negative territory. Due to negative demand and new supply, occupancy tumbled to 92.7 percent. Meanwhile, same-store rental rates increased 0.5 percent in 4Q 2014.

4Q 2014 San Antonio Apartment Trends
Effective Rent Occupancy Annual Job Change Annual Permits Annual Demand Annual Completions
$858 92.7% 29,100 jobs 4,048 units 5,169 units 6,303 units


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

tags: San Antonio apartment NewsTalk, see Multifamily at San Antonio Market Data Sources

612-Unit Signature Ridge sells for $45M in San Antonio 

(2/24/2015)

SAN ANTONIO - The San Antonio medical center area is the site of yet another residential complex acquisition, this time worth nearly $45 million.

The sale of Signature Ridge, a 612-unit multifamily community purchased by RailField Realty Partners and Artemis Real Estate, comes just a week after Presidium Group's deal to buy The Landmark, a 426-unit complex also near the South Texas Medical Center.

Both acquisitions point toward a hungry interest among developers and investors in the area, a trend professionals think will only increase throughout the year.

RailField will put in about $4 million for property renovations, including upgraded amenities, common areas and units.

The remodel could result in a 10 percent to 15 percent boost to current rent levels, which are now just shy of $1,000 a month for a standard one-bedroom.

Read more at the San Antonio Business Journal.

The List: San Antonio private sector major employers 2015 

(2/24/2015)

SAN ANTONIO - The San Antonio Business Journal has released its 2014–2015 Book of Lists, which includes a ranking of the 25 largest private employers. Those employers with 2,000 or more employees are shown below. The data were originally published July 2014.

Largest San Antonio Private Sector Employers
Name Local
Employment
Industry
HEB Grocery Co. 20,000 Grocery Retail
USAA 17,000 Financial Services
Baptist Health System 6,498 Health Care
JPMorgan Chase Bank 5,000 Financial Services
SeaWorld San Antonio 3,000 Theme Park
Six Flags Fiesta Texas  3,000 Theme Park
Toyota Motor Manufacturing Texas Inc. 2,900 Automotive Manufacturing
Southwest Research Institute 2,700 Applied Engineering Research
Frost Bank 2,077 Financial Services


tag: SABJ 2014-2015 Private Sector Employers, San Antonio Market Research

Source: Book of Lists at the San Antonio Business Journal.

REOC: San Antonio 4Q 2014 retail overview 

(2/23/2015)

SAN ANTONIO - The San Antonio retail market experienced a positive but rather quiet fourth quarter. San Antonio area retail properties experienced 52,317 sf of positive net absorption in 4Q 2014, which raised the year-end total to 566,917 sf.

Demand for retail space has steadily absorbed excess space across the city. Much of the vacancy that remains suffers from functional obsolescence of some sort.

The local retail market closed out the year with a citywide vacancy rate of 9.4 percent - which remained stable compared to the previous quarter and improved compared to the 10.3 percent recorded in the same quarter a year ago.

The citywide average quoted triple net rental rate stepped back $0.05 from 3Q 2014 to settle at $16.60 per sf per year, which is exactly where it stood at the end of 4Q 2013.

REOC San Antonio: 4Q 2014 Retail*
All Types Citywide CBD / South Non-CBD / North
4Q 2014 4Q 2013 4Q 2014 4Q 2013 4Q 2014 4Q 2013
Inventory 47,072,539 46,987,802 6,375,326 6,365,096 40,697,213 40,622,706
Direct vacant 4,416,619 4,819,790 640,825 744,291 3,775,794 4,075,499
Vacant 9.4% 10.3% 10.1% 11.7% 9.3% 10.0%
Average rent $16.60 $16.60 $15.66 $17.08 $16.68 $16.57
4Q absorption 52,317 164,904 -11,687 1,009 64,004 163,895
YTD absorption 566,917 391,862 49,143 26,174 517,774 365,688

*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 Research.

REOC: San Antonio 4Q 2014 medical office market 

(2/20/2015 8:00:00 AM)

SAN ANTONIO - The medical office market closed the year with a citywide vacancy rate of 18.5 percent — stable compared to last quarter and up only slightly compared to 18.1 percent recorded in fourth quarter 2014, despite the addition of nearly 222,000 sf of new medical office space.

The cost of renting medical office space remained relatively stable as well — climbing only $0.10 compared to 4Q 2013 to close 4Q 2014 at $23.96 per sf per year on a full-service basis.

Looking ahead, development will continue to deliver new medical space to the San Antonio market in 2015. Houston-based Medistar recently broke ground on the 60,000-sf Victory Medical Office Building.

REOC San Antonio: 4Q 2014 Medical Office Building*
All Types Citywide CBD Non-CBD
4Q 2014 4Q 2013 4Q 2014 4Q 2013 4Q 2014 4Q 2013
Inventory 6,743,126 6,530,352 1,059,337 1,012,037 5,683,789 5,518,315
Available 1,245,016 1,180,789 154,815 82,060 1,090,201 1,098,729
Vacant 18.5% 18.1% 14.6% 8.1% 19.2% 19.9%
Average rent $23.96 $23.86 $20.66 $20.78 $24.57 $24.44
4Q absorption -4,533 39,409 -24,242 4,690 19,709 34,719
YTD absorption 149,715 245,206 -54,122 40,281 203,837 204,925

*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.

tag: San Antonio Market Research, San Antonio NewsTalk Texas

San Antonio part deux for $47M La Cantera apartments 

(2/20/2015 7:20:00 AM)

SAN ANTONIO - Construction for the second phase of the Residences at La Cantera is slated to begin this May, bringing the development one step closer to its goal of becoming a resort-like destination.

The estimated $47 million, four-story, 300-unit multifamily residential building has a permit to break ground this May. The project should be completed in two years, according to USAA Real Estate Co.

The Residences at La Cantera will feature studio to three-bedroom Class A floorplans, ranging between 553 and 1,785 sf.

Amenities will include a clubhouse, cyber cafe, fitness center, yoga classroom, resort-style pool and Jacuzzi.

Read more at the San Antonio Business Journal.

Flying high! San Antonio International sets 2014 benchmark 

(2/18/2015)

SAN ANTONIO - San Antonio International Airport set new enplaned and total passenger records in 2014.

For the 12-month period ending December 31, 2014, nearly 8.4 million air passengers flew into and out of San Antonio International — 1.4 percent more than in the previous year.

Airport officials said domestic air traffic increased nearly 2 percent last year, with more than 7.9 million passengers traveling through San Antonio International.

The number of international passengers who moved through San Antonio International dropped 2.1 percent compared to 2013 to 464,765.

San Antonio International also saw an increase in air cargo passing through the airport in 2014. The facility handled more than 233 million pounds of such cargo last year — 0.7 percent more than in 2013.

Read more at the San Antonio Business Journal.

tag: Passengers and cargo stats year-end 2014, San Antonio Market Research see Infrastructure

San Antonio staffing: Alorica hiring 300 

(2/18/2015)

SAN ANTONIO - Alorica is hiring 300 people to staff the company's new call center at the former Travelocity office.

Alorica is interviewing people to work in sales, operations, management and quality assurance.

Alorica is making a concerted effort to hire veterans and individuals within military families in San Antonio.

The office, located at 11603 Crosswinds Way, will open in March, but it is not expected to reach hiring capacity until the end of August 2016.

The company has 28 call centers in the United States, two in Central and South America, three in the Philippines, and two in the Dominican Republic.

Read more at the San Antonio Business Journal.

SABOR: San Antonio home sales Jan. 2015 

(2/17/2015)

SAN ANTONIO - San Antonio Board of Realtors (SABOR) has released January 2015 home sales data.

Some quick facts include:
•  The median price of existing single-family homes decreased to $165,000 down 2.9 percent versus December 2014.
•  Existing single-family home sales decreased 31.6 percent from December 2014 for a January 2015 total of 1,191 sold units.
•  Condos decreased in price to $96,500, down 10.6 percent versus December 2014.
•  Existing condo sales decreased 34.4 percent in January 2015 from December 2014 for a total of 40 sold units.

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

SABOR Jan. 2015 Regional Sales and Price Activity
MLS Wide Median Price
Jan. 2015
Price Chg.
vs. Jan
. 2014
Units Sold
Jan. 2015
Sales Chg.
vs. Jan
. 2014
SABOR
(single-family)
$165,000 9.7% 1,191 -0.8%
SABOR (condo) $96,500 -10.6% 40 8.1%
Region Cities*  
San Antonio $157,700 9.5% 808 -1.7%
New Braunfels $238,000 38.4% 47 -13.0%
Schertz $170,000 1.5% 31 47.6%
Converse $130,000 14.0% 31 -20.5%
Boerne $351,158 43.3% 26 13.0%
Cibolo $189,950 7.6% 24 0.0%
Canyon Lake $283,750 81.3% 16 0.0%
Helotes $240,000 -2.0% 16 -38.5%


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

Source: San Antonio Board of Realtors (SABOR)

tag: housing data, housing news

$22M sale: San Antonio iHeart office/data center 

(2/17/2015)

SAN ANTONIO - W.P. Carey acquired the three-story, fully-leased office and data center facility at 20880 Stone Oak Pkwy. for $22 million, or about $183 per sf.

The 120,000-sf property was constructed in 2002 as a build-to-suit for seller iHeartCommunications, which signed a new 20-year lease for its primary IT and finance shared service operations.

Read more from CoStar Group.

San Antonio home sales continue climbing 

(2/17/2015)

SAN ANTONIO - Home sales continued their year-over-year climb with 1,428 sales in January — a 4.8 percent increase from January 2014 — according to data compiled by the San Antonio Board of Realtors.

Experts continue to point to low interest rates and job growth to explain the continual increase in sales. However, a tight inventory of existing homes plays a part, too.

The housing inventory rose slightly to 3.6 months — still well below a balanced market.

Because there are not a lot of existing homes on the market, the median price increased from $161,900 in January 2014 to $176,700 in January 2015 — a 9.1 percent bump. As a result, of the 1,428 homes sold in January, 96.8 percent of sales were sold at list price, meaning there was not much room for negotiation.

The average days on market also decreased by three days to 74 days in January, as compared to January 2014.

Additionally in January, 59.2 percent of all sales were homes priced less than $200,000, 37.3 percent homes priced between $200,000 and $500,000 and 3.4 percent priced at $1 million or more.

San Antonio Home Sales Recap
  January 2013 January 2014 January 2015
# Homes Y-O-Y
Chg.
# Homes Y-O-Y
Chg.
# Homes Y-O-Y
Chg.
Total Month Sales 1,255 24% 1,363 7% 1,428 5%
Average Price $184,403 4% $194,312 6% $212,222 9%
Median Price $151,100 3% $161,900 7% $176,700 9%


Read more at the San Antonio Express-News.

Visit the San Antonio Board of Realtors (SABOR) Media Newsroom for more data.

Energy sector helping to drive job growth in San Antonio 

(2/16/2015)

SAN ANTONIO - San Antonio is expected to add 3,800 to 4,000 jobs in 2015 — a sizable portion of those jobs from the energy sector, according to the San Antonio Economic Development Foundation.

Bexar County saw 4,762 new jobs added during 2014, an increase of 762 jobs above growth expectations set at the beginning of last year.

A growing number of new jobs are in the clean energy sector, such as solar and wind power, Economic Development Foundation officials report.

Read more at the San Antonio Business Journal.

Witte begins 65,000-SF phase of museum expansion in S.A. 

(2/16/2015)

SAN ANTONIO - The Witte Museum has broken ground on the next phase of a $100 million transformation of the nearly 90-year-old Broadway campus.

The first phase of the project, which cost roughly $20 million, included the transformation of the former Pioneer Hall into the Robert J. and Helen C. Kleberg Foundation South Texas Heritage Center, and nearby office space into the Witte Research Center.

The second phase of the renovation and expansion campaign will cost roughly $60 million and add 65,000 sf to the Witte Campus.

The project, which has been branded the New Witte, will include significant changes to the museum's main building, as well as the construction of the Mays Family Center, which will house special exhibitions and events.

A third phase of improvements is also planned. That $20 million project will include the development of a new Center for Rivers and Aquifers.

Read more at the San Antonio Business Journal.

Got data? See CBRE: San Antonio Office MarketView 4Q 2014 

(2/13/2015 10:00:00 AM)

SAN ANTONIO - Rents were up and vacancy rates were down in the San Antonio office market during fourth quarter 2014.

According to CBRE' Q4 2014 MarketView, net absorption in this sector closed at its highest levels since 2007 — with activity being driven by lowering unemployment figures and higher citywide asking rates.

Average office rents are trending upward again after a series of declines throughout the past couple of years. While current asking rates haven't yet reached the levels hit at the start of 2012, new development and increasing demand will help fuel higher office rents.

The report, which includes spaces classified as general office buildings, stated that recent absorption rates have come full circle over the last 12 months — from a high of about 19 percent back in 4Q 2013, to 15.9 percent at the end of 2014.

More than 960,000 sf of office space was added to the market in 4Q 2014, and that figure is expected to climb even further throughout 2015. Most of the development was concentrated in the far North Central, Northwest and far West areas of the city.

San Antonio Office Market Statistics
Market Rentable
Area
(SF)
Vacancy
Rate
Net
Absorption
(SF)
Avg. Asking
Rate
($/SF/Yr)
CBD 5,100,035 22.8% 24,977 19.67
North Central 8,086,835 12.5% 72,110 21.87
Far North Central 2,458,355 8.8% -1,768 22.91
Northeast 1,924,652 14.8% -4,886 19.88
Northwest 8,581,667 17.8% 105,502 19.61
Far West 384,110 8.2% 0 -
South 473,871 14.2% 5,408 15.50
Totals 27,009,525 15.9% 201,343 20.34


Source: CBRE Research 4Q 2014

Read more at the San Antonio Business Journal.

tag: San Antonio Office MarketView Q4 2014 CBRE

Got real data? Better take a look here.

Comfort: Sinks (not China) rise to the top in 150,000 SF 

(2/13/2015)

COMFORT, KENDALL COUNTY - AJW Architectural Products selected Comfort, located 45 miles northwest of San Antonio, for a new manufacturing facility.

“It will be great to see an American company relocating to the U.S., creating U.S. jobs and stamping ‘Made in the USA’ on the product,” said Dan Rogers, president of Boerne Kendall County Economic Development Corp.

AJW Architectural manufactures a complete line of washroom accessories, washroom partitions, metal lockers and visual display products.

The company will build a manufacturing/office/warehouse with 150,000 sf and 120 employees.

AJW will drop a manufacturing contract in China once its new plant in this Kendall County community is up and running.

Read more at Realty News Report and the San Antonio Express-News.

CoStar: San Antonio retail vacancy stays at 5.3 percent 

(2/13/2015)

SAN ANTONIO - The San Antonio retail market did not experience much change in market conditions in fourth quarter 2014.

The vacancy rate was unchanged from 3Q 2014 at 5.3 percent. Net absorption was positive 129,471 sf, and vacant sublease space decreased by 11,872 sf.

The largest lease signings occurring in 2014 included:

•  Cavender Cadillac signed a 50,000-sf lease at 7895 N Loop 1604.
•  Hobby Lobby signed a 58,000-sf lease at 17903 La Cantera Pkwy.
•  LA Fitness signed a 45,000-sf lease at 17138 Bulverde Rd.

Read more from CoStar Group.

Bigger and better for Seguin H-E-B 

(2/12/2015)

SEGUIN - H-E-B’s motto is “Here, everything’s better."

Soon that will be the case locally, as H-E-B Seguin Unit Director Danny Crowson announced that the Texas-based grocer is expanding.

The current store is 58,000 sf, and the new store is planned to be 100,000 sf.

The new building will be constructed on the same property, but customers will be able to continue shopping at the current store.

Crowson said the company’s H-E-B real estate department visited with retailers located in the shops surrounding the store. These shops will be relocating to the new retail center that will be built in June or July.

The new storefront will fashion a pair of entrances with a “Texas Front Yard” in between them, a new market-style barbecue restaurant and a drive-through pharmacy. The store will also feature Cooking Connection, a live demonstration with a variety of recipes.

Parking availability will increase from 325 to 584 spaces, and approximately 50 new jobs will be added.

Construction will begin in two weeks and is expected to be completed by October. The store will face SH 123 and be situated between the King Ranger Theatre and First Commercial Bank.

Crowson said it would take an additional eight weeks to demolish the original store and finish the parking lot.

Outside of the store, Hastings and JCPenney will remain, as well as McDonald’s, King Ranger and First Commercial Bank.

The store’s gas station will see changes but not until after the main project is completed.

Estimated cost of construction is $8.2 million.

Read more at the Seguin Gazette-Enterprise.

San Antonio sale: 426-unit The Landmark at Medical 

(2/11/2015)

SAN ANTONIO - The Landmark at Medical, a 426-unit apartment complex near the South Texas Medical Center in Northwest San Antonio, has been purchased by Presidium Group.

Located at 7135-7207 Snowden Rd., The Landmark delivered in 1984 at the intersection of I-10 and Loop 410 within walking distance of major area employer South Texas Medical Center — a ten-hospital campus that includes The University of Texas Health Science Center and almost 80 clinics.

The community consists of one- and two-bedroom apartments and features on-site amenities such as a fitness center, laundry facility, leasing center, three swimming pools and a picnic area.

The firm will rebrand the community as The Branch at Medical Center.

Sources: CoStar Group, San Antonio Business Journal

 

San Antonio: Kalikow closes on Luckey Ranch area sale 

(2/4/2015)

SAN ANTONIO - The Kalikow Group, on behalf of KEP Luckey Ranch Global Associates, has announced the closing of the sale of a 239-acre residential land parcel to LGI Homes at the master-planned 2,400-home, 610-acre Luckey Ranch project.

The total Luckey Ranch site consists of 539 acres zoned for residential development parcels as well as 71 acres zoned for commercial use. The community is approximately 20 minutes north of downtown San Antonio.

In the last three years, LGIH has acquired all of the available residential development acreage. In 2011, LGI Homes acquired a 93-acre residential land parcel within the Luckey Ranch master development. In 2013, LGIH acquired a second, 208-acre site.

The property is located at Loop 1604 North and Hwy. 90, about 20 minutes north of downtown San Antonio.

Read more at GlobeSt.

San Antonio's 25,000-SF Flip'z trampoline space to Pica Pica 

(2/4/2015)

SAN ANTONIO - South San Antonio residents can jump for joy because a new indoor trampoline park called Flip'z has opened its doors in Pica Pica Plaza.

The trampoline park covers 25,000 sf at 910 SE Military Dr. It includes activities for adults, teens and children. Adults can use the park to exercise, as Zumba classes will be held there.

Teens can play dodgeball on two courts or use the trampolines to dunk basketballs. There is also a large trampoline area for younger children.

Flip'z will employ 25 people, who will rent the space out for birthday parties and special event functions.

Read more at the San Antonio Business Journal.

Stonelake to build 500,000 SF in NE San Antonio 

(2/3/2015)

SAN ANTONIO - Stonelake Capital Partners plans to develop 500,000 sf of Class A industrial space in the 3300 block of IH-35 North.

Stonelake will build each new building to be 95,000 to 150,000 sf. The buildings will be completed by fall, and the company is working on leasing the space before it is built out.

The company acquired the land to build after it bought the neighboring Pan Am Distribution Center, which includes five industrial buildings and 682,000 sf of space.

The demand for industrial space has increased over the past year. Last week, the Business Journal reported that rent for San Antonio's industrial space is at near-record levels that have not been seen since 2008.

Read more at the San Antonio Business Journal.

Walmart's fifth Neighborhood Market opens in Northwest S.A. 

(2/2/2015)

SAN ANTONIO - Walmart has opened its fifth neighborhood market in northwest San Antonio at 9006 Guilbeau Rd.

The store is 42,000 sf and includes a pharmacy, beauty and health departments, as well as regular grocery items.

The neighborhood market employs 95 full-time and part-time employees.

Read more at the San Antonio Business Journal.

San Antonio-New Braunfels revved up from job gains 

(2/2/2015)

SAN ANTONIO - San Antonio and Bexar County gained 4,750 new jobs in 2014 — roughly 750 more than were initially projected for the area.

Local leaders said more than 1,500 of those new jobs were secured with the help of the City of San Antonio's business retention & expansion program, which focuses on employers in key industry clusters.

More than two dozen companies chose to move to or expand in the San Antonio area in 2014.

About 60 percent of the new jobs the San Antonio region gained in 2014 were from the business services sector, which includes shared-services operations, manufacturing and distribution.

San Antonio Economic Development Foundation officials are projecting another 4,000 new jobs for the region in 2015.

In New Braunfels, there is similar optimism. That community, part of the San Antonio metropolitan statistical area, gained more than 1,900 new jobs in 2014.

Three companies — IBEX Global, CBE Cos. and Nexus Medical Consulting — were responsible for roughly 1,000 of the new jobs.

Read more at the San Antonio Business Journal.

San Antonio Shavano Commons $16M office park finishing up 

(1/30/2015 10:00:00 AM)

SAN ANTONIO - The 14-acre Shavano Commons Business Park, in the North Central area, is now close to being finished.

Shavano Commons, located within Loop 1604 between Lockhill Selma Rd. and NW Military Hwy., includes 20 luxury stand-alone office buildings that range from 2,200 sf to 10,000 sf.

In all, there are 18 buildings have been constructed and occupied. All of the businesses have bought their buildings, except for one office that is leased.

The last two buildings are under construction and on the market, rounding out the $16 million project.

In the meantime, Image Homes will pivot to its second office park project called Huebner Gardens at 14603 Huebner Rd.

The company bought 19 lots from the project's developer two years ago and have already sold three and leased one. Four additional buildings are under construction on the property. The office buildings range from 1,500 sf to 7,000 sf.

Read more at the San Antonio Business Journal.

Sold: 258,000-SF, 306-unit Legacy Heights in San Antonio 

(1/30/2015 7:41:00 AM)

SAN ANTONIO - Cottonwood Residential of Salt Lake City has purchased Legacy Heights, a 258,200-sf, 306-unit Class A multifamily community in northeast San Antonio, adjacent to affluent Alamo Heights and near Fort Sam Houston.

Located at 1320 Austin Hwy., the property sits on 22.47 acres and consists of one-, two- and three-bedroom units with nine floor plans.

Both the Class A and Class B/C multifamily sectors in San Antonio are likely to benefit from substantial job growth among professionals, and among blue-collar and leisure/hospitality workers, respectively, this year, according to a 2015 market forecast by Marcus & Millichap.

Average vacancies and rents are expected to remain relatively stable, however, with a 4 percent (6,750-unit) increase in apartment inventory roughly balancing employment growth.

Read more at Commercial Property Executive.

Click here for Marcus & Millichap's 2015 market forecast.

Rivera apartments to fill Broadway gap in San Antonio 

(1/29/2015)

SAN ANTONIO - Construction continues on the Rivera apartment complex at 1130 Broadway St., adding 302 rental units to a growing housing base in San Antonio’s urban core along the Broadway corridor.

Named for the Mexican artist Diego Rivera, the four-story apartment complex will have a clean, Cubist style and offer high-end efficiencies, one- and two-bedroom units.

Austin-based developer Argyle Residential will start preleasing units in November and the project is expected to be complete in March 2016, according to Managing Director John Burnham.

Burnham estimates the 420-sf efficiencies may go for around $900 per month, while the 810-sf one-bedrooms may go for around $1,600 per month.

Read more at the Rivard Report.

San Antonio industrial space tight; rents push up 

(1/29/2015)

SAN ANTONIO - If you have not noticed that San Antonio's industrial real estate sector is on the upswing, you are not alone.

Local real estate observers know San Antonio has a strong housing market, a healthy office building occupancy rate and a high retail lease rate.

Likewise, the average San Antonio resident can see that homes are selling better and few office and storefronts are vacant.

Yet fewer people have occasion to see indicators that the industrial space in San Antonio is also doing well.

Nevertheless, one could say industrial space in San Antonio is doing better than the residential, office and retail real estate markets.

Consider that San Antonio's vacancy rate for industrial space is 7.7 percent — better than the overall office vacancy rate at 15.9 percent, according to CBRE San Antonio.

The industrial space vacancy rate is lower than the retail vacancy rate of 8.6 percent, according to the latest survey by The Weitzman Group and Cencor Realty Services.

Second, consider that rent for San Antonio's industrial space is at near-record levels that have not been seen since 2008. In late 2014, the average rent rate was $7.23 per sf. Rental rates had not gone above $7 in San Antonio since 2010.

The highest rent for industrial space is in northwest San Antonio at $9.66 per sf. At the end of 2014, more than 650,000 sf of industrial space was under construction.

Read more at the San Antonio Business Journal.

Weitzman: San Antonio retail occupancy up 1.6 percent 

(1/28/2015 8:30:00 AM)

SAN ANTONIO - Much like the local housing market, San Antonio's retail market continues to outperform itself.

The 2014 year-end occupancy rate for San Antonio stands at 93 percent, up from the 2013 year-end occupancy rate at 91.4 percent, according to a review conducted by The Weitzman Group and Cencor Realty Services.

The two real estate groups looked at 41.7 million sf of multitenant shopping centers and retail space in San Antonio.

Last year, San Antonio added 1.4 million sf of floor space to the market, compared to 704,000 sf in 2013.

Most of that space was built by large companies, such as Walmart. The retail giant added five store locations, four Neighborhood Markets and two Sam's Club wholesale stores.

More development is predicted to occur in active retail centers, such as The Rim off I-10, and a number of strip mall centers off Culebra Rd. and Loop 1604 near Alamo Ranch.

Read more at the San Antonio Business Journal.

tags: 2015 Weitzman Retail, REOC San Antonio Retail, IRR Retail Annual Viewpoint 2015 (PDF)

Casa Mechanical inks 44,000-SF lease in Cibolo 

(1/28/2015)

CIBOLO - Casa Mechanical, a local HVAC and plumbing contractor, has secured a lease for the 44,000-sf warehouse building at 120 Industrial Dr.

Formerly leased to aircraft supply company Fiber Art, the single-story facility was delivered in 1988 in the Schneider Industrial Park in Guadalupe County.

Read more from CoStar Group.

San Antonio Kahlig drives to North Park Lexus at Dominion 

(1/28/2015)

SAN ANTONIO - Kahlig Auto Group has opened its newest dealership — North Park at Dominion.

The 72,000-sf dealership, at I-10 and Dominion Dr., is a companion dealership with North Park Lexus of San Antonio. That dealership is at Lockhill Selma Rd. and San Pedro Ave.

Lexus recently appointed North Park as the automaker’s dealer in the McAllen-Harlingen area. A dealership is set to open there next year.

Read more at the San Antonio Express-News.

Contractors ready to absorb laid-off energy workers 

(1/27/2015 9:00:00 AM)

SAN ANTONIO - The San Antonio chapter of the Associated General Contractors of America would like to issue an urgent message to any energy workers in the area who might be laid off because of falling oil prices.

The message: We want you back.

Let us go back about five years ago. The country still was bogged down in a depressed housing construction market. The construction industry, moreover, also was suffering from a dip in all kinds of contracts because financing was difficult in the weak economy.

Meanwhile, the fracturing drilling technology was reviving oil production, especially in South Texas’ Eagle Ford Shale area. Construction workers found good-paying jobs by switching to oil-and-gas companies.

The table has turned.

The energy industry, beset by a dramatic drop in oil prices, is stomping on the brakes. Layoffs affecting thousands by Texas-based energy companies are announced seemingly every day, hitting some workers in the Eagle Ford.

Meanwhile, the construction industry is booming. The economy is healthy and growing.

Housing inventories are low. Numerous public school bond packages mean schools must be built.

Texas construction companies are hurting for workers, partially because of high volumes of retirements and a low number of new workers to replace them. 

“Not a day goes by when we don’t have a conversation about this,” said Doug McMurry, executive vice president of the San Antonio AGC chapter. “We would welcome these folks. We think there are good opportunities.”

Read more at the San Antonio Express-News.

Bexar and surrounding area reach ‘full employment’ 

(1/27/2015)

SAN ANTONIO - Bexar County reached full employment in December, based on the standards used by most economists. The unemployment rate for the area fell to 3.8 percent, Workforce Solutions Alamo reported.

That was slightly higher than the 3.7 percent average for the 12-county area covered by Workforce Solutions Alamo, which includes Atascosa, Bandera, Comal, Frio, Gillespie, Guadalupe, Karnes, Kendall, Kerr, Medina and Wilson counties.

Gillespie County had the lowest unemployment rate in December among the counties at 2.5 percent.

Bexar and Medina counties had the highest rates at 3.8 percent, which is still considered full employment.

The Texas unadjusted unemployment rate was 4.1 percent in December, down from 4.6 percent in November. The nation's unadjusted unemployment rate was 5.4 percent in December, down from 5.5 percent in November.

Read more at the San Antonio Business Journal.

For more employment data, see the Texas Workforce Commission.

Dave & Busters, H&M projects to San Antonio Rivercenter Mall 

(1/27/2015)

SAN ANTONIO - Projects to bring a Dave & Busters and an H&M clothing store into downtown San Antonio have taken a step forward.

Building permit filings show that two projects will finally proceed.

Entertainment venue Dave & Buster's first announced it planned to move into the old Joske's Department Store in Rivercenter Mall in January 2013. The project will be approximately 33,000 sf.

After more than two years, a building permit filing shows that the $2.79 million renovation project could be completed by August.

Another filing shows that clothing giant H&M will open its second San Antonio store inside Rivercenter Mall. The $1.75 million, 30,000-sf clothing store is also expected to be open by August.

Read more at the San Antonio Business Journal.

New Air Force center to employ 350 more personnel at JBSA 

(1/27/2015)

SAN ANTONIO - The new Air Force Installation and Mission Support Center that will be coming to San Antonio this year will bring an estimated 350 new jobs to the area.

About half of the new jobs will be civilian and half will be military personnel stationed at Joint Base San Antonio (JBSA) — which oversees operations at Fort Sam Houston, Camp Bullis, Lackland, and Randolph Air Force bases.

The move is part of an effort to consolidate multiple operations to one location to make them more efficient.

The new center will be occupying an existing building at Joint Base San Antonio.

Read more at the San Antonio Business Journal.

USAA plants its flag in downtown San Antonio 

(1/26/2015)

SAN ANTONIO - After the flight of AT&T headquarters to Dallas in 2008, downtown San Antonio commercial real estate remained stagnant. That makes it even more significant that insurance and financial giant USAA makes a strategic move into the urban core.

In 2013, USAA Real Estate Company acquired One Riverwalk Place, 700 N. St. Mary’s St. — located on the River Walk just a few blocks from the Tobin Center for the Performing Arts.

Most of the building remains occupied by existing tenants, but room was made for the first wave of USAA employees to set up shop early in 2015.

Employees assigned to downtown come from an array of departments, including Enterprise Affairs, the General Counsel’s office, Member Experience, Information Technology and the Chief Administration Office.

Ultimately, about 150 employees will be working downtown by the end of March. In the near-term, USAA will occupy three floors of the 18-story building downtown.

The remaining floors are leased to law firms, investment companies, and other tenants. The 261,633-sf building is currently 100 percent leased and occupied.

Read more at the Rivard Report.

tag: San Antonio news, San Antonio news, 4Q 2014 office CBRE

Topgolf swings dogleg left from downtown San Antonio 

(1/23/2015 1:00:00 PM)

SAN ANTONIO - Topgolf is set to open its first location in San Antonio on January 30 near the intersection of I-10 and Loop 1604.

The three-level, 65,000-sf facility includes dozens of hitting bays that come equipped with TV screens, seating — heated in cold weather — and a view of the lighted range.

The San Antonio facility also includes a restaurant and bar on the second floor, event space for parties and corporate events, and a rooftop bar overlooking Fiesta Texas.

The Dallas-based company has 15 locations in the U.S. and soon will open its 16th on the Alamo City's far Northwest Side.

Read more at the San Antonio Business Journal.

ALN San Antonio apartment report Dec. 2014 

(1/23/2015 7:30:00 AM)

SAN ANTONIO - ALN Apartment Data has released December 2014 apartment occupancy and effective rent data for apartments.

San Antonio Market Stabilized Market*
Dec. 
2014
Annual
Chg.
Occupancy rate 92.3 1.4%
Units added 3,745  
Units absorbed (annual) 2,473  
Average size (SF) 835 0.1%
Asking rent $849 3.0%
Asking rent per SF $1.02 3.0%
Effective rent $834 3.6%
Effective rent per SF $1.00 3.6%
Offering concessions 36% -16.8%
Avg. concession package 4.8% -3.3%

*Stabilized market is everything in a market except for apartments in initial lease-up.

Floor Plan Breakdown - San Antonio
Plan
Type
Market Avg.
SF
Avg.
Market
Rent/Mo.
Avg.
Eff.
Rent/Mo.
Eff. 3.5% 465 $587 $575
1 BR 46.1% 673 $738 $725
1 DEN 1.8% 876 $866 $858
2 BR 38.7% 991 $950 $934
2 DEN 0.9% 1,183 $1,114 $1,099
3 BR 7.6% 1,253 $1,160 $1,145
>3 BR 1.4% 1,539 $1,741 $1,728


Read more at ALN Market News.

San Antonio's housing market posts strong 2014 

(1/22/2015 7:10:00 AM)

SAN ANTONIO - Home sales rose 16 percent during December, compared with the same month in 2013, as local homebuyers balanced house hunting and gift shopping during the holiday season.

The San Antonio Board of Realtors' December multiple listing report showed that 2,083 homes were sold in San Antonio last month, up from 1,800 homes in December 2013.

The number of homes sold in December 2014 was also higher than in November, when agents sold 1,694 homes.

The average time a home spent on the market remained low at 70 days. Housing inventory also dropped from 3.9 months in November to 3.5 months in December.

A few key figures from 2014 include:

•  total 2014 sales from January to December: 24,735 homes

•  average price of a home sold in 2014: $218,762

Read more at the San Antonio Business Journal.

tag: housing data, housing news

San Antonio: Corporate relocations add thousands of new jobs 

(1/22/2015)

SAN ANTONIO - San Antonio and Bexar County gained 4,750 new jobs in 2014 as a result of 28 companies relocating to or expanding in the region.

The new job count exceeded original projections for the year by some 750 positions, according to the San Antonio Economic Development Foundation.

Roughly 60 percent of the new jobs the San Antonio region gained were from the business services sector, which includes shared-services operations, manufacturing and distribution.

That figure can be attributed in part to IBEX Global, an international provider of customer contact services, which announced in November it was adding more than 1,000 positions in San Antonio.

San Antonio economic development officials are projecting 4,000 new jobs for the region in 2015.

Read more at the San Antonio Business Journal.

tag: San Antonio employment, employment data

New Braunfels gained nearly 2,000 jobs last year 

(1/22/2015)

NEW BRAUNFELS - New Braunfels is continuing to experience record growth. The Hill Country community gained 1,946 new jobs in 2014.

Three companies — IBEX Global, CBE Companies and Nexus Medical Consulting — were responsible for roughly 1,000 of the new jobs, according to Michael Meek, president of the Greater New Braunfels Chamber of Commerce.

New Braunfels is part of the San Antonio metropolitan statistical area.

As such, it has benefited from some of the same economic advantages that have caused companies to relocate to or expand in the Alamo City — access to a growing population and aggressive incentive offers, as well as lower taxes.

Source: San Antonio Business Journal

tag: San Antonio area data

Aztec Theatre sells in San Antonio 

(1/20/2015)

SAN ANTONIO - Aztec Project Development Ltd. recently sold the building at 201 E. Commerce St. in San Antonio's River Walk.

The 112,278-sf property is home to the 500-seat Aztec Theatre — a multipurpose entertainment and events facility originally constructed in 1926 and listed on the National Register of Historic Places.

Restored in 1999, Aztec Theatre also houses several retail and office spaces. According to CoStar data, the property was 74 percent occupied at the time of sale.

CoStar Group

tag: San Antonio data

280-Unit Artessa at Quarry Village in San Antonio acquired 

(1/20/2015)

SAN ANTONIO - Capital One Multifamily Finance has provided a $63.3 million fixed-rate Freddie Mac loan for the acquisition of Artessa at Quarry Village, a 280-unit luxury apartment community,

Intercontinental Real Estate purchased the property and granted Capital One the rights to represent Freddie Mac.

Completed in 2009, Artessa is located in Alamo Heights, located six miles from downtown San Antonio. Artessa offers one-, two-, and three-bedroom units, and was 95 percent occupied as of October 2014.

The property features ground floor retail space, which includes 27 retail suites.

Read more at Texas Real Estate Business.

San Antonio: Gold's Gym weighs in at Alamo Quarry Market 

(1/20/2015)

SAN ANTONIO - Gold’s Gym recently opened its new location at the Alamo Quarry Market.

The 26,000-sf gym, located at 255 E. Basse Rd., includes cardio and strength-training equipment, free group exercise classes, a cycle studio, personal training programs, locker rooms with dry saunas and more.

Read more at the San Antonio Express-News.

Map: Where people are renting in San Antonio 

(1/16/2015 11:58:00 AM)

SAN ANTONIO - City leaders are pushing forward with urban development and the "Decade of Downtown."

Part of that push is additional housing in the downtown area and getting people to move back to the city center.

To help all of that, San Antonio is one of the most affordable housing markets in the country, according to a real estate analytics group, and the rental market is holding a similar trend coming out of 2014.

The median rent in San Antonio is currently at $830 for a two-bedroom apartment, according to the December figures from Apartment List's Rental Price Monitor; that is nearly half of San Diego, California, where median rent is $1,700.

More good news for the local leasing market is that rent growth is continuing stay low at 1.3 percent, well under the national average of 2.8 percent.

Click through a slideshow to see how rent looks across San Antonio, including data on the percent of renter and median gross rent in each ZIP code.

Using data from the U.S. Census Bureau's most recent American Community Survey, we mapped the percent of renters in each Bexar County ZIP code and color coded them accordingly.

Red: areas with over 75% renters
Orange: areas with 50%-75%
Yellow: areas with 25%-50% renters
Green: areas with under 25% renters

Read more at the San Antonio Express-News.

Sold: 282-unit Broadstone Colonnade in San Antonio 

(1/16/2015 9:15:00 AM)

SAN ANTONIO - An anonymous buyer has purchased the 282-unit, Class A multifamily project in northwest San Antonio known as Broadstone Colonnade.

Broadstone Colonnade, at 4330 Spectrum One, is made up of 282 one-, two- and three-bedroom units featuring eight floor plans.

Floor plans range from 568 to 1,311 sf and from $822 to $1,517.

In the last two years, significant capital improvements have been completed to the exterior, including new roofs, exterior paint, gutters and window screens.

Read more at Realty News Report.

H-E-B debuts first two-story market in Texas 

(1/15/2015 6:30:00 AM)

SAN ANTONIO - After tearing down its oldest operating store and building a new store in its place, H-E-B's Nogalitos location will reopen this week as the company's first two-story grocery store in Texas.

The size of the old store was 26,000 sf and the new store's footprint is 62,000 sf.

The new H-E-B store at 1601 Nogalitos St. will carry five times more craft beer than previously offered, 300 different wine labels, expanded produce and deli sections and a “travelator.”

As H-E-B’s first multilevel market in Texas, the Nogalitos store connects parking on the ground floor with shopping on the second via a slightly inclined escalator that uses a magnetic strip to lock specialized shopping carts in place.

The two-story market replaces H-E-B’s oldest operating store, which the locally based grocery chain closed and demolished last year. Construction crews retained part of the iconic facade and used it to surround a small courtyard in front of the new store.

H-E-B already operates several multilevel locations in northern Mexico and chose the format for the Nogalitos store because of the dense residential area surrounding it.

Approximately 80 additional employees were hired to staff the store.

Read more at the San Antonio Express-News.

Fortune 500 company to build $40M facility in Selma 

(1/15/2015)

SELMA, BEXAR COUNTY - A national auto parts company is planning to build a $40 million distribution center, bringing 250 jobs, according to city officials.

City Administrator Ken Roberts told the Selma City Council that the company’s plans call for a 388,000-sf distribution center on a 25-acre site in the Titan Industrial Park at Lookout Rd., near the Amazon Fulfillment Center.

Officials are expected to break ground on the project in February.

The 303-acre site Titan Industrial Park is located in both Selma and Schertz, at Lookout Road and Schertz Parkway, west of Interstate 35. The new distribution center will be constructed near the 1.26 million-sf Amazon Fulfillment Center, which opened in 2013 in Schertz.

Citing a nondisclosure agreement, Roberts declined to identify the company and would only say that it is a Fortune 500 company. The city administrator said he would reveal the company’s name at the Selma City Council meeting in February.

Read more at the San Antonio Express-News.

San Antonio's 2015 job growth projected to exceed state’s 

(1/15/2015)

SAN ANTONIO - Despite the economy being thrust into uncertainty due to the ongoing plunge in oil prices, the San Antonio area’s job growth prospects for this year still look relatively good.

Keith Phillips, Fed senior economist and research officer, projected 3 percent job growth, or 28,000 net new jobs, for this year.

That is less than the 38,000 net new jobs, or 4.2 percent, San Antonio is projected to record for 2014 when the December report comes out later this month.

The reason San Antonio will not be hit as hard by a projected slowdown in energy drilling is that the city never received a significant boost in employment between 2010 and 2014 because of the Eagle Ford Shale activities, Phillips said.

San Antonio’s mining sector growth never exceeded state job growth in general for the 2010 to 2014 period, he explained.

Even now, it only accounts for about 4 percent of the area workforce. Logistics, such as truck and pipeline shipments, also is not a large employment sector in the San Antonio area.

Read more at the San Antonio Express-News.

tag: San Antonio employment data

Metrostudy: San Antonio home starts to stay the same in 2015 

(1/14/2015 1:00:00 PM)

SAN ANTONIO - Housing starts in 2015 are likely to remain constant with 2014 — around 9,300 — a leading industry analyst told about 400 builders and contractors at the Greater San Antonio Builders Association’s housing forecast.

If San Antonio records more than 9,000 starts, it would be the second year above that mark since the nearly 13,000 starts in 2007, before the economic collapse.

According to Jack Inselmann, regional director of Metrostudy, the number would be even higher if there were more affordable housing starts — new homes priced at $150,000 and less. However, builders say the rising cost of building homes is making lower-end homes an unprofitable proposition.

In 2014, the $150,000 price range was the smallest sector of homes being built, with less than 500 being built.

Read more at the San Antonio Express-News.

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