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San Antonio-New Braunfels

College Credit for Heroes marches to Alamo Colleges 

(8/28/2015)

SAN ANTONIO - The Texas Workforce Commission (TWC) recently announced the award of $800,000 to support five new accelerated certificate or degree programs through its College Credit for Heroes program, a statewide effort designed to maximize the award of college credit to veterans and service members for their military experience.

The announcement further expands the reach of the successful program, which has now grown to include a network of 37 universities and community college partners.

College Credit for Heroes welcomes five new school projects — including Alamo Colleges — to the third phase of the program:

Alamo Colleges, San Antonio: $200,000 is dedicated to creating five new accelerated curriculum pathways leading to an Associate of Applied Science Degree in the fields of pharmacy technologist, emergency medical technician, medical assisting, dental assisting and nursing.

Unique to Texas, College Credit for Heroes has achieved success by establishing a standard evaluation process used across the state for veterans to receive classroom credit, by growing a vast network of partner schools and by supporting the development of 76 fast-track programs to help veterans translate their military experience into civilian careers.

To read more and see a list of the new school projects, see the Texas Workforce Press Release.

For a complete list of participating schools and fields of study, visit collegecreditforheroes.org.

Galleria Ventures to $19.5M office in NW San Antonio 

(8/27/2015 9:40:00 AM)

SAN ANTONIO - Northwest San Antonio's office market is going to become a bit more crowded, this time with Galleria Venture's plans to deliver its latest project, the Vista Corporate Center, which is expected to break ground next month.

The five-story, 158,000-sf development will be in the southeast corner of the Loop 1604 and I-10 corridor at 13801 IH 10 West — estimated cost is $19.5 million with the estimated completion set for July 2016.

The site, currently being cleared for construction, will be neighbors with Fulcrum Development's Landmark One office project, a six-story, 164,351-sf building slated to break ground later this year.

The area also includes Stream Realty's Lockhill Crossing, the second phase of La Cantera's WestRidge office park as well as Bitter Blue's 52,000-sf building that broke ground this month.

Read more at the San Antonio Business Journal.

Check out San Antonio-New Braunfels NewsTalk and San Antonio-New Braunfels Market Research.

REOC: San Antonio 2Q 2015 retail market 

(8/25/2015 7:30:00 AM)

SAN ANTONIO - The San Antonio retail market closed second quarter 2015 with a citywide vacancy rate of 10 percent.

There were no notable deliveries in 2Q but more than 826,000 sf of multi-tenant retail space is currently under construction led by the redevelopment of the former Joske’s Building at RiverCenter Mall downtown.

The remaining projects under construction are mostly smaller, unanchored centers scattered throughout the market in niche locations.

REOC San Antonio: 2Q 2015 Retail*
All Types Citywide CBD / South Non-CBD / North
2Q 2015 2Q 2014 2Q 2015 2Q 2014 2Q 2015 2Q 2014
Inventory 47,163,523 47,164,952 6,244,326 6,375,326 40,919,197 40,789,626
Direct vacant 4,721,976 4,679,243 580,536 757,115 4,141,440 3,922,128
Vacant 10.0% 9.9% 9.3% 11.9% 10.1% 9.6%
Average rent $16.30 $16.58 $15.24 $15.50 $16.40 $16.67
2Q absorption 65,962 108,746 -1,377 -13,799 67,339 122,545
YTD absorption 230,479 371,043 27,949 41,853 202,530 329,190


*Statistics based on multi-tenant centers totaling 20,000 sf and larger (including both leaseable and separately owned inline space). Rental rates reflect non-weighted strict average asking rates quoted on an annual triple net basis (excluding regional malls).

Source: REOC San Antonio (all reports)

Or click on REOC Quarterly Retail Report (PDF).

Don't forget! See San Antonio Market Research for more quarterly reports.

Brooks City Base to lure visitors south of downtown 

(8/25/2015)

SAN ANTONIO - The transformation of Brooks Air Force Base has delivered a historic amount of new retail development to Southeast San Antonio.

Those tasked with repositioning the former military site are convinced the campus is positioned now to attract more hotel investment and visitors, creating new economic opportunities in an area of the city that has missed out on much of the market’s multibillion-dollar tourism trade.

Continued activity in the Eagle Ford Shale oil and gas play south of San Antonio, coupled with the recent designation of four South Side missions as World Heritage Sites, has created a perfect storm of opportunity.

Crews broke ground on a new Embassy Suites by Hilton San Antonio hotel at Brooks City Base. The 156-room property will have a full restaurant, as well as meeting rooms, banquet facilities that can accommodate 500 people and an 8,000-sf ballroom.

Earlier this year, a Holiday Inn Express opened on the campus.

A new Hampton Inn is already under construction, and La Quinta is expanding its hotel.

Brooks City Base officials anticipate there will be additional hotel development in the area.

“I expect that the World Heritage designation of our missions will only lead to additional opportunities,” said Brooks City Base President Leo Gomez.

Three of the sites — Missions Espada, San Jose and San Juan — are located near Brooks City Base.

Read more at the San Antonio Business Journal.

Check out San Antonio-New Braunfels NewsTalk and San Antonio-New Braunfels Market Research.

Marcus & Millichap: San Antonio multifamily 3Q 2015 

(8/25/2015)

SAN ANTONIO - Employment is up, construction is up, vacancy is down and rents are up — all of the arrows indicating the health of San Antonio's multifamily market are pointing in the right direction.

Bolstered by the diverse economy and job growth across a variety of fields, widespread demand for multifamily units in the city will continue to rise through the third quarter of this year, according to Marcus & Millichap's Apartment Research Market Report 3Q 2015.

With most of the corporate interest focused in the far north central and northwest submarkets, it only makes sense that a majority of new apartment construction will come up in those areas as well.

The report states that investors are scouring the San Antonio market for apartment assets, and transaction velocity will be limited only by the number of available properties for sale this year.

More construction projects are beginning in the southern market, such as Southtown Flats, Big Tex, the next phase of residential development at the Blue Star Arts Complex, as well as a handful of smaller townhome developments.

By the numbers:

  • Employment in the city increased 2.2 percent, with the creation of 20,700 jobs. Last year, that growth settled at 3.3 percent with the addition of 31,100 jobs.
  • Construction in San Antonio continues to rise, with 6,500 new units added this year alone. That will result in a 3.8 percent expansion to the multifamily inventory. Last year, 6,300 units were delivered.
  • Vacancy in 2015 has so far fallen to 6.5 percent, an 80-basis-point drop on net absorption of 5,000 units. Last year, vacancy rose to 10 percent.
  • Average effective rents are expected to increase by 3 percent this year to $884 per month. In 2014, rents jumped 4.6 percent year over year.


Read more at the San Antonio Business Journal.

Click to see M&M's San Antonio 3Q 2015 Apartment Market Report (PDF).

REOC: San Antonio 2Q 2015 medical office market 

(8/25/2015)

SAN ANTONIO - The medical office market closed the quarter with a citywide vacancy rate of 19.5 percent — unchanged from last quarter but softened compared to 17.5 percent recorded 2Q 2014, in part, to the addition of nearly 200,000 sf of new inventory over the past 18 months.

The cost of renting medical office space stepped up $0.24 compared to 2Q 2014 to close the quarter at a citywide average rate of $24.05 per sf per year on a full-service basis which marks a modest annual increase of only 1 percent.

Increased vacancy and flat absorption combine to limit rental rate growth. Pre-leasing success in buildings such as Inwood Medical Office (20,887 sf) and Rogers Rd. Medical Plaza (32,390 sf) will bolster absorption figures in third quarter.

REOC San Antonio: 2Q 2015 Medical Office Building*
All Types Citywide CBD Non-CBD
2Q 2015 2Q 2014 2Q 2015 2Q 2014 2Q 2015 2Q 2014
Inventory 6,879,450 6,662,911 1,059,393 1,012,037 5,820,057 5,650,874
Available 1,339,748 1,167,178 142,553 82,960 1,197,195 1,084,218
Vacant 19.5% 17.5% 13.5% 8.2% 20.6% 19.2%
Average rent $24.05 $23.81 $20.23 $20.78 $24.74 $24.35
2Q absorption 1,874 72,376 18,902 -900 -17,028 73,276
YTD absorption -18,674 146,170 12,262 -900 -30,936 147,070


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

Source: REOC San Antonio

For the full report, see Quarterly Medical Report (PDF).

Click San Antonio Market Research, San Antonio NewsTalk for more quarterly reports.

REOC: San Antonio 2Q 2015 industrial market 

(8/24/2015)

SAN ANTONIO - The San Antonio industrial market closed the second quarter with a citywide vacancy rate of 8.4 percent, which is up compared to 5.9 percent recorded a year ago.

Two new industrial projects were delivered to the San Antonio market in second quarter:

  • In the North Central sector, Thousand Oaks Business Park 4 (66,405 sf) came online anchored by Interceramic Tile (53,061 sf).
  • In the South, a 60,000-sf build-to-suit for Custom Fab was delivered at South Park Business Park located at 7030 Old Pearsall Rd.

Over the past four quarters, the market experienced nearly 639,000 sf of positive net absorption offset by more than 863,000 of new inventory.

San Antonio Industrial Market 2Q 2015
Submarket* Total
Inventory
Direct
Vacant SF
%
Vacant
Avg. Rent
Rate
CBD 233,395 0 0% $3.60
NC 5,401,214 388,100 7.2% $9.05
Far NC 26,586 0 0% $12.00
NW 3,982,905 458,641 11.5% $8.72
NE 18,887,659 1,539,098 8.1% $5.81
South 5,746,829 481,801 8.4% $6.17
Far West 151,474 31,274 20.6% $3.84
Totals 34,430,062 2,898,914 8.4% $7.74


*See a map of the San Antonio submarkets in the full report.

Source: REOC San Antonio

See the full Quarterly Industrial 2Q 2015 Report (PDF), including previous quarters.

Don't forget! Visit San Antonio-New Braunfels Market Research for more stats.

UIW campus rolls into Irapuato, Mexico (the auto hub) 

(8/20/2015)

SAN ANTONIO - The University of the Incarnate Word (UIW) has opened a campus in Irapuato, Mexico, in the state of Guanajuato, UIW's second academic site south of the border.

Guanajuato is an important hub for the automobile industry, including General Motors, Mazda, Honda, Toyota, Pirelli, Volkswagen and Ford. Other important industrial sectors are food, textile and footwear manufacturing, with companies such as Conagra, Procter & Gamble, Nestlé, Nike and Florsheim having a presence.

With the opening, UIW is the only American university with two campuses in Mexico, according to the Border Education Research Team at the State University of New York at Albany.

In 2016, UIW plans to add six bachelor's and two master’s degree programs, which will be dual degrees accredited in Mexico and the United States.

UIW began operating the campus June 1, 2015 in the facilities of Universidad Liceo Cervantino. UIW acquired two facilities: a historic property in downtown Irapuato and a 44.5-acre site near the Pan American Hwy.

Read more at the San Antonio Business Journal.

Downtown San Antonio's skyline change 

(8/19/2015)

SAN ANTONIO - San Antonio's downtown skyline, which has seen dramatic changes in the past few years, is gearing up for more.

Buildings such as the Grand Hyatt and Embassy Suites along the Riverwalk, the 247-unit Class A Vistana apartments and the 146-unit condominium Vidorra have established the foundation for some of the future changes.

New downtown Class A office product has been virtually nonexistent in recent years, a trend that will hopefully change with CPS Energy's commitment to keeping its headquarters in the area and Weston Urban's plans to deliver the first new downtown office tower in 30 years that will house Frost Bank's new headquarters.

Downtown's retail scene has largely been segmented between tourists and locals — heavily weighted toward the former. Rivercenter Mall, which is on track to complete construction in early fall, will help solve that problem.

Hemisfair's multipronged approach and development plans will be an anchor for downtown San Antonio, connecting with the Pearl to help define the city's urban core.

The changes to San Antonio's skyline over the past seven years are undeniable, but what developers, brokers and residents are most excited about is that the real change is just getting started.

Read more at the San Antonio Business Journal.

Want a visual of the progress? See the changes at Rentcafe.com.

See San Antonio Market Research for quarterly reports.

San Antonio's hottest zip code points north 

(8/19/2015)

SAN ANTONIO - San Antonio earned a spot on Realtor.com’s Top Ten Zip Codes in America for having healthy housing dynamics, strong local employment and what company officials call that 'it factor.'

Realtor.com said that the North Central zip code 78247 ranked the sixth-hottest zip code in the country.

The zip code roughly encompasses an area bounded by US Hwy. 281, Loop 1604 and Nacogdoches Rd.

Realtor.com officials found that 49,514 residents live in 78247.

The report found that households and population have grown 7 percent in this zip code in the past five years, two times faster than the rest of the country.

The share of $100,000 earning households is expected to grow by 15 percent by 2020.

Median list prices in June were 33 percent lower than the metropolitan area. However, they grew 7 percent year-over-year during the first half of the year.

Top 10 Hottest Zip Codes
Midyear 2015
Rank Zip Name
1 02176 Melrose, Mass.
2 43085 Columbus, Ohio
(Worthington)
3 80122 Littleton, Colo.
(Centennial)
4 75023 Plano
5 48375 Novi, Mich.
6 78247 San Antonio
7 63126 St. Louis, Miss.
(Crestwood)
8 78729 Austin
9 58103 Fargo, N.D.
10 92010 Carlsbad, Calif.


Source: Realtor.com

Read more at the San Antonio Business Journal.

New Braunfels: Avenues at Creekside strolls to new owner 

(8/18/2015)

NEW BRAUNFELS - Preferred Apartment Communities, an Atlanta-based property investment firm, has purchased Avenues at Creekside from Western Rim Property Services.

The 395-unit Avenues at Creekside was constructed in early 2013 on a 61-acre site at 625 Creekside Way in San Antonio's Outer Comal County multifamily submarket.

The community consists of one- to four-bedroom townhomes and apartments.

Source: CoStar Group

Check out San Antonio-New Braunfels NewsTalk and San Antonio-New Braunfels Market Research.

San Antonio: Morningstar sets into Blue Llama Storage 

(8/18/2015)

SAN ANTONIO - Morningstar Properties LLC has acquired Blue Llama Storage at 6826 Alamo Pkwy. in the Alamo Ranch neighborhood.

Built this year, the three-story property comprises 95,000 sf and 575 storage units.

The acquisition was made through Morningstar’s proprietary investment vehicle Blue Doors Storage Fund II.

The property had been owned by ACSTORAGE LLC.

Read more at Inside Self-Storage.

Check out more! San Antonio NewsTalk, San Antonio Market Research

San Antonio: $40M 322-unit Palo Alto underway 

(8/17/2015)

SAN ANTONIO - Along the lower rim of Loop 410 between Somerset Rd. and Hwy. 16, NRP Group has broken ground on the $39.3 million Palo Alto Apartment. 

The 322-unit multifamily complex is near Palo Alto College and Texas A&M University-San Antonio on the city’s South Side.

Floor plans at the $39.3 million Palo Alto Apartments will include one-, two-, three- and even four-bedroom units, with rents ranging in the high-$600 to low-$900 range.

On the surface it will look just like some of the other Class A developments that NRP has completed in recent years, but given the proximity to higher education, it will cater to a different type of tenant: part-time students.

It will also deliver the first affordable housing units in about a decade.

Read more at the San Antonio Business Journal and mysanantonio.com.

Click NewsTalk San Antonio for more news you might have missed. Check out San Antonio Multifamily Data.

American Freight & Mattress snuggles into San Antonio 

(8/17/2015)

SAN ANTONIO - American Freight Furniture and Mattress has opened its first location in Texas.

The 45,000-sf store is located at 639 Lanark Dr. in an industrial area commonly known as the Alamo Industrial Center.

The new store will add up to ten jobs in the San Antonio area.

American Freight Furniture and Mattress is a discount furniture warehouse, and is open to the public.

“We are so excited to introduce American Freight Furniture to the state of Texas, and especially to be so centrally located in San Antonio. San Antonio has a very strong military community, filled with hard-working people, and we can’t wait to provide stylish yet affordable furniture.”

Read more at American Freight Furniture and Mattress.

San Antonio: Allegiant flight path nonstop to Vegas, Florida 

(8/17/2015)

SAN ANTONIO - Allegiant Air is expanding its flight path by adding new nonstop service between San Antonio and three major visitor destinations — Fort Lauderdale and Orlando, Florida and Las Vegas.

Allegiant is adding direct flights from San Antonio International Airport to Fort Lauderdale/Hollywood International Airport beginning November 5, 2015.

Allegiant will also launch service between San Antonio and Orlando Sanford International Airport on November 5, 2015 and will add service between the Alamo City and Las Vegas McCarran International Airport the following day.

The new service will be available year-round. Allegiant officials said the nonstop flights will operate twice weekly.

The carrier, which took flight just over a decade ago with one aircraft and a single route, now flies to more than 100 destinations across the United States.

Read more at the San Antonio Business Journal.

Don't miss out! San Antonio NewsTalk and quarterly reports at San Antonio Market Research

SABOR: San Antonio home sales July 2015 

(8/14/2015 1:30:00 PM)

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

• The median price of existing single-family homes decreased to $188,550, down 0.8 percent from June 2015.
• Existing single-family home sales decreased 3.6 percent from June 2015 for a July 2015 total of 2,389 sold units.
• Condos decreased in price to $110,950, down 0.9 percent from June 2015.
• Existing condo sales decreased 16.2 percent in July 2015 from June 2015 for a total of 62 sold units.

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

SABOR July 2015 Regional Sales and Price Activity
MLS Wide Median Price
July 2015
Price Chg.
July
2014
Units Sold
July 2015
Sales Chg.
July
2014
SABOR
(single-family)
$188,550 5.9% 2,389 8.1%
SABOR (condo) $110,950 22.2% 62 -16.2%
Region Cities*  
San Antonio $179,000 6.0% 1,623 4.7%
Cibolo $200,000 6.7% 75 97.4%
New Braunfels $244,500 26.4% 71 -24.5%
Boerne $340,750 12.5% 70 14.8%
Schertz $190,500 4.4% 62 63.2%
Converse $150,500 24.6% 58 0.0%
Helotes $319,000 18.1% 51 -3.8%
Seguin $187,450 21.8% 26 23.8%
Canyon Lake $217,000 -21.0% 25 13.6%


*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 for recent news from San Antonio, the Fiesta City. Also click San Antonio Market Research for a variety of quarterly reports.

SA hot spots bring Arizona buying frenzy 

(8/14/2015 10:00:00 AM)

SAN ANTONIO - Alliance Residential Co.'s plan to expand its presence in San Antonio is to pay a premium for the sites within the city's in-demand suburbs — starting with the South Texas Medical Center.

The firm is planning Broadstone at The Med Center, a 284-unit, ground-up residential development that will be located on the site of the former Oak Hills Medical Center hotel, at 7401 Wurzbach Rd. in Northwest San Antonio.

Given the fact that the tract is in the middle of one of the city's healthiest employment centers and within walking distance to a number of hospitals in the area, it was property that Alliance felt was too good an opportunity to pass up.

In addition to managing five Medical Center properties, Alliance built the Broadstone Colonnade and Broadstone Ranch — two complexes that added more than 500 units to the market back in 2005. The 282-unit Broadstone Colonnade, which has been appraised for $30 million, was sold late last year to Boston-based Eaton Vance Investment Managers.

The Broadstone at The Med Center will be Alliance's first ground-up development in this market cycle.

And while the company may have taken a back seat throughout the economic downturn, given the increasing demand for San Antonio real estate, it is ready to return to developing — quickly.

Source: San Antonio Business Journal

Make life easier, see San Antonio NewsTalk.

385-Unit Enclave sold in San Antonio 

(8/13/2015)

SAN ANTONIO - The 384-unit Enclave, a multifamily property located at 2555 N.E. Loop 410, has been sold to by PBC Acquisition Services LLC.

Built in 1980, the Class B, 384-unit community is 97 percent occupied and features one- and two-bedroom floor plans.

The Enclave, located near Loop 410 and Interstate 35, is situated five and a half miles from both the North Star Mall and the San Antonio International Airport.

The area's top employers include Rackspace, the airport, Northeast Baptist Hospital and Fort Sam Houston.

Vacancy in the San Antonio metro area fell 70 basis points to 6.3 percent in first quarter 2015.

Average asking rents appreciated 2.7 percent since first quarter 2014, reaching $885 in March of this year.

This transaction echoes the recent growth in the San Antonio housing market, with vacancy in the metro-wide area falling 70 basis points to 6.3 percent in 1Q 2015. Average rent prices in the area reached $885 in March of this year.

Sources: Multi-Housing News, GlobeSt.com

San Antonio industrial stacks up 'names' in Texas metros 

(8/12/2015)

SAN ANTONIO - Although San Antonio is considered a secondary industrial market compared to other Texas metros, it will deliver about 700,000 sf of new product — as much as Austin and El Paso combined — while maintaining single-digit vacancy rates.

Of Texas' 1.4 billion-sf market, San Antonio is set to deliver substantially more than what Austin, McAllen and El Paso have in their own pipelines.

While preleased industrial space in San Antonio is practically nonexistent, the city has long been able to absorb new, unoccupied space within a couple of quarters, helping keep vacancy rates in the single digits.

In first quarter 2015, vacancy rates for industrial space in the city dropped to 7.4 percent, marking the eighth-straight quarter of occupancy rates exceeding 90 percent.

However, one of the strongest attributes for San Antonio's industrial market moving forward are 'the names.'

Its ability to attract Amazon.com Inc. and have the e-retailer open a 1.26 million-sf fulfillment center here has sparked a domino effect for new projects, sales and expansion.

That includes O'Reilly Auto Parts' upcoming $40 million, 380,000-sf distribution center in Selma and UPS' $35.2 million expansion for its distribution center at 6400 Seven States Blvd.

According to CBRE's MarketFlash report, Texas is in the middle of an industrial market boom. Across the state, new projects continue to break ground as a result of overall occupancy rates hitting the high 90s.

Through second quarter 2015, the real estate firm analyzed 158 projects under construction in primary markets, those projects totaled 26.5 million sf, 36 percent of which is preleased.

Texas has one of the largest industrial markets in the country, and San Antonio is surfacing as a big — and growing — fish in a big pond.

Texas Industrial Statistics in SF
  Under
Construction
Preleased Total Not
Preleased
Dallas 13,941,133 5,029,041 8,912,092
Houston 10,207,863 5,702,177 4,505,686
San Antonio 671,939 - 671,939
Austin 487,859 115,409 372,450
McAllen 274,000 178,000 96,000
El Paso 126,456 126,456 -
Texas 25,709,250 11,151,083 14,558,167


Read more at the San Antonio Business Journal.

Click to see the Texas Industrial Marketflash (PDF).

'I want a piece of that!' River Walk access from 220 units 

(8/11/2015 2:00:00 PM)

SAN ANTONIO - Local residential developers have been clamoring for land either near Pearl, close to downtown or with access to the River Walk. With 120 9th St., Indianapolis-based SC Bodner Co. Inc got all three.

The San Antonio newcomer has plans to build a 220-unit, five-story apartment complex, with nearly half of those enjoying unobstructed river views.

SC Bodner, which recently bought the nearly 1.8-acre site from the state, will leverage the in-demand property to build a reputation for itself in the city.

The complex, known for now as 120 9th St., will be SC Bodner’s second in Texas. Its first is the Creekside South development in Wylie, near Dallas.

With other residential complexes such as the River House, 1221 Broadway and Pearl’s Can Plant as neighbors, all of 120 9th St.’s floorplans will likely go for upwards of four digits.

A 456-sf studio in 1221 Broadway, for example, starts at $1,094 a month, and that property is just half a mile away and isn’t fronting the river.

Floorplans in 120 9th St. will include studios, one- and two-bedroom units, with structured parking, elevators and the typical upscale amenities.

Steady rises in asking rents and a growing desire among San Antonians to live downtown have developers saying just one thing: I want a piece of that.

Source: San Antonio Business Journal, Shorten your search at San Antonio NewsTalk.

San Antonio rain puddles pent-up housing demand: Metrostudy 

(8/11/2015 7:00:00 AM)

SAN ANTONIO - The San Antonio housing market ended second quarter 2015 on a strong note — posting double-digit increases in the number of new-home closings, according to the latest report by the San Antonio office of Metrostudy.

The construction numbers, however, could have been better.

On the closings side, a total of 9,319 new homes were purchased between second quarter 2014 and 2015 — a 13 percent increase a year ago.

During 2Q 2015 alone, 2,511 new homes were sold in the greater San Antonio area — a 24 percent increase over the 2,030 homes sold during 2Q 2014.

“The San Antonio home building industry continued its good pace of new-home activity during the second quarter of 2015,” stated Jack Inselmann, director of Metrostudy’s San Antonio region.

It was a different story on the construction side. But unlike a few years ago — when uncertainty and financial constraints were holding the market back — this time around the culprit is Mother Nature herself with rain, lots of rain.

Between the 2Q 2014 and 2015, construction began on 9,431 new homes — a modest 10 percent increase over the 8,555 new-home starts reported a year ago, and a mere 1 percent uptick from the 9,343 homes started between 1Q 2014 and 2015.

Rain delays aside, it’s been a good six months. The housing market ended 2014 reporting 8,560 new-home closings. Six months later, that number was up another 751 closings.

Now multiply that number by the average new-home price of around $300,000.

“That’s $271 million in business,” Inselmann said. “We’re closing more houses, that makes everyone happy. “It’s been a pretty good six months,” he added.

Source: San Antonio Business Journal

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San Antonio: Holt Cat drives East Side with $21M expansion 

(8/7/2015 9:45:00 AM)

SAN ANTONIO - Holt Cat will be investing its future in San Antonio's East Side with its upcoming new corporate headquarters and campus improvement.

With expansion plans that will exceed $21 million, Holt will begin work next month on the first phase of construction, which will include grounds improvements, direct access to Loop 410, roads and equipment storage areas.

The real work will begin in first half 2016, when the largest Caterpillar dealer in the country breaks ground on the 84,000-sf, three-story building for its new corporate headquarters.

Spanning 144 acres, the expansion on Holt's campus at 3302 S. W.W. White Rd. along the loop is just the start of a long-term investment in East San Antonio.

Read more at the San Antonio Business Journal.

Don't forget! San Antonio Market Research, San Antonio NewsTalk

Cushman & Wakefield office snapshot: 2Q 2015 San Antonio 

(8/6/2015)

SAN ANTONIO - Overall, the San Antonio office market experienced decreased vacancy rates and increased average asking rental rates from one year ago.

Class A office inventory in the CBD was stable reflecting a direct vacancy rate of 9.5 percent, a modest increase from one year ago.

With the Class A office market outside the CBD adding new buildings to absorb the demand of San Antonio’s growing corporate office user base, the Far North Central and Far Northwest submarkets will gain more than 600,000 sf of new, speculative, non-medical office product by year-end.

The outlook for San Antonio’s office market appears positive and able to absorb the new construction availabilities coming online in the next year and beyond.

San Antonio 2Q 2015 Statistics
  2Q 2014 2Q 2015 Y-O-Y
Chg.
Overall vacancy 15.4% 14.7% -0.7 pp*
Direct asking
rents (PSF/YR)
$19.61 $20.08 2.4%
YTD leasing
activity (SF)
1,096,976 553,378 -49.6%


*percentage point

Source: Cushman & Wakefield

See the full San Antonio Office Snapshot 2Q 2015 report.

San Antonio Market Research, San Antonio NewsTalk

Cushman & Wakefield: San Antonio Industrial Snapshot 2Q 2015 

(8/6/2015)

SAN ANTONIO - The San Antonio industrial market continues to experience low vacancy rates, coupled with an overall trend of increasing asking rental rates.

Distribution centers for Amazon, Carrier, Caterpillar, FedEx, Glazer’s and Sysco, occupying 200,000 sf up to more than 1 million sf, have been completed along major highway corridors.

The conservative approach of developers during the latest oil and gas boom preserved vacancy and rental rates in the industrial market.

While leasing activity dipped along with oil industry confidence, the market is stable and should be able to absorb the 700,000 sf of spec, modern-quality warehouse product that is due by year-end.

San Antonio 2Q 2015 Statistics
  2Q 2014 2Q 2015 Y-O-Y
Chg.
Overall vacancy 9.2% 11.4% 2.2 pp*
Direct asking
rents (PSF/YR)
$5.61 $5.70 1.6%
YTD leasing
activity (SF)
1,267,904 422,167 -66.7%


*percentage point

Source: Cushman & Wakefield

See San Antonio Industrial Snapshot 2Q 2015 (PDF) for the full report.

Don’t miss out on San Antonio Market Research or San Antonio NewsTalk.

San Antonio: Stinson Municipal Airport tacks on 63,000 SF 

(8/6/2015)

SAN ANTONIO - Houston-based Western LLC announced a lease deal to design, build and market new corporate and executive hangar space at Stinson Municipal Airport.

The first phase will include six luxury corporate and executive hangars for a total of more than 63,000 sf of hangar space.

The airport is located six miles south of downtown San Antonio's central business district and has easy access to all major highways.

Stinson has more than 100 years of general aviation experience and is the nation’s second-oldest continually operating general aviation airport.

Read more at the San Antonio Express-News.

San Antonio: Academy Sports + Outdoors steps up to the plate 

(8/5/2015)

SAN ANTONIO - With San Antonio's growing population, increasing competition from other sporting good retailers and emerging neighborhood hotspots throughout the city, Academy has put plans in motion to build its ninth San Antonio location.

Starting this October, the retailer will begin construction on a 62,942-sf store at 7503 S. Zarzamora St. with adjacent walkways, truck docks and a compactor pad.

Work is expected to wrap up in April 2016.

Academy is planning to spend $1.5 million on the ground-up construction.

Read more at the San Antonio Business Journal.

It's a record: San Antonio office market soars 

(8/4/2015 10:00:00 AM)

SAN ANTONIO - With shrinking supply and rising rents, San Antonio’s office market over the first six months of this year was the strongest the city has ever recorded.

Not only has it seen the highest recorded levels of absorption, but according to CBRE’s second quarter 2015 Office MarketView report, vacancy is back down to prerecession levels and asking rents have surpassed previous highs.

The first half of 2015 saw more than 637,630 sf of positive net absorption, passing the highest level reached at the same time last year by more than 7,000 sf.

And as office space continues to fill up, tenants are displaying a willingness to pay more to get more. Average asking rents increased another $0.28 per sf to settle at $20.95 per sf, and in desirable submarkets or a building with a slew of upscale amenities, that number is soaring past $30 per sf.

While demand for space didn’t increase at the same rate in 2Q 2015 as it did in the first three months of the year, according to the CBRE report, there was still more than 130,000 sf of new user requirements added to the market.

Further, a handful of submarkets will carry the city through the rest of the year.

Northwest San Antonio saw most of the positive net absorption for the quarter, posting nearly 159,000 sf, or 61 percent, of the total net absorption for 2Q 2015.

With the city’s residential, retail and industrial real estate sectors thriving, the office market has good company.

Read more at the San Antonio Business Journal.

See San Antonio Office MarketView 2Q 2015 (PDF).

Click San Antonio Market Research and San Antonio NewsTalk.

Xerox faxes 700 new jobs to Texas 

(8/3/2015 7:00:00 AM)

SAN ANTONIO - Xerox officials are planning to hire 700 new call center jobs in Texas.

The company will add 400 employees to its call center at Port San Antonio.

Of the new San Antonio positions, 100 are permanent and 300 are in anticipation of peak call volumes during the holiday shopping season.

The company is also hiring a total of 300 employees for its Houston facility at 3100 Hayes Rd.

Applicants must have six months of call center experience or equivalent customer service experience.

Read more at the San Antonio Business Journal and the San Antonio Express-News.

Seguin: Adobe plants roots with 160-unit Oak Hollow purchase 

(8/3/2015)

SEGUIN, BEXAR COUNTY - Dallas-based Adobe Properties has purchased Oak Hollow Apartments, a Class A multifamily community located east of San Antonio in Seguin.

Oak Hollow is a 160-unit community that is located at 1439 Barnes Dr.

"Oak Hollow is a premier gated community that provides tenants with a safe, stylish, energy efficient place to live and raise a family,” said Adobe Properties Chairman and CEO Daniel J. Moos.

Read more at the San Antonio Business Journal.

Don't forget! Click San Antonio Market Research and San Antonio NewsTalk.

San Antonio: JW Marriot splashing into $16M expansion 

(8/3/2015)

SAN ANTONIO - JW Marriott San Antonio Hill Country Resort & Spa plans to spend roughly $16 million to expand its River Bluff Water Experience and to add more convention and meeting space.

The resort is located a few miles northeast of the Loop 1604 and Hwy. 281 interchange.

The expansion project, which is scheduled to be begin September 2015 and be completed by spring 2016, will include the construction of a new water slide attraction and pool. The park will also add more cabana and relaxation areas, among other features.

Once completed, JW Marriott will have extra capacity to host more groups and meetings. The project will also include the development of a 9,000-sf pavilion that will house new meeting and conference space, as well as a large activity field and entertainment stage.

Read more at the San Antonio Business Journal.

Don't forget! Click San Antonio Market Research and San Antonio NewsTalk.

Eye in the sky: San Antonio airport stats May 2015 

(8/1/2015)

SAN ANTONIO - San Antonio International Airport passenger traffic statistics for May 2015 is on its way up.

San Antonio International Airport Statistics
  May YTD
Passengers 2014 2015 Chg. 2014 2015 Chg.
Domestic Enplanements 347,287 351,790 1.30% 1,576,410 1,589,600 0.84%
Domestic Deplanements 340,598 343,037 0.72% 1,577,352 1,592,924 0.99%
Total Domestic Passengers 687,885 694,827 1.01% 3,153,762 3,182,524 0.91%
International Enplanements 18,251 23,967 31.32% 83,729 101,199 20.86%
International Deplanements 16,319 22,220 36.16% 77,045 96,751 25.58%
Total International Passengers 34,570 46,187 33.60% 160,774 197,950 23.12%
Grand Total all Passengers 722,455 741,014 2.57% 3,314,536 3,380,474 1.99%


Source: San Antonio International Airport

See the full San Antonio International Activity Report May 2015, including previous months.

San Antonio: Hotel Emma hiring 175 employees before opening 

(7/27/2015)

SAN ANTONIO - Hotel Emma, the 146-room hotel set inside the historic Pearl brewery, plans to open October 5, 2015.

Management is currently working to hire 175 employees.

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

Read more at the San Antonio Business Journal.

San Antonio: LA Fitness builds muscle with 37,000-SF gym 

(7/23/2015)

SAN ANTONIO - LA Fitness is set to open its sixth San Antonio location on the city's west side.

The fitness chain has acquired a five-acre tract in the newest phase of Potranco Village at the northeast corner of Potranco Rd. and Loop 1604.

The 37,000-sf gym is set to lead the second phase of development at the retail center.

The club is slated to open in late 2015.

Read more at the San Antonio Business Journal.

San Antonio: Fulcrum community to pivot around Landmark One 

(7/22/2015)

SAN ANTONIO - While a majority of Northwest San Antonio's new office product is built around existing retail or multifamily activity, Fulcrum's Class A development, Landmark One, will build the surrounding environment on its own.

Nestled in the southeast corner of I-10 and Loop 1604, the local development group is plowing ahead with plans to build a six-story, nearly 165,000-sf office building as one of the first pieces for Landmark Centre, Fulcrum's 32-acre master-planned community.

Landmark One will be right in the middle of a dynamic master-planned community that is at the epicenter of one of the most active submarkets in the city. In other words, it will truly be at the center of everything in Northwest San Antonio.

Rents at Landmark One are set at $27 per sf NNN.

Read more at the San Antonio Business Journal.

Don't forget! Click San Antonio Market Research and San Antonio NewsTalk.

San Antonio: Conn's $9.2M distribution center breaks trend 

(7/21/2015 10:45:00 AM)

SAN ANTONIO - As San Antonio's retail market shifts toward food, medical and services, Conn's HomePlus is stepping outside the trend to build a $9.2 million distribution center in Northeast San Antonio.

Adding to the retailer's seven store locations throughout the city, the new 305,000-sf distribution center at 1710 Cornerway Blvd. will beef up Conn's presence in South Central Texas.

Tucked into one of San Antonio's most industrial corridors in the northeast corner of the Loop 410 and I-10 crossing, Conn's new distribution facility will be a significant boost to the city's already thriving industrial market.

The retailer will spend more than $9 million on construction for the new center. Construction is expected to last from August 2015 to February 2016.

Read more at the San Antonio Business Journal.

San Antonio oil field firm opens 'Lowe's' of the Eagle Ford 

(7/21/2015)

SAN ANTONIO - FMC Technologies has officially opened its $15 million Eagle Ford 'supercenter' in south San Antonio.

Sitting on 36 acres of land, the oil field logistics 'super store' and service shop is located off Loop 1604 just west of I-37 and is accessible to key highways throughout the Eagle Ford Shale.

The facility takes four of the company's businesses — fluid control, wellhead, flowback and measurement — and puts them under one roof.

The $15 million facility includes 18,000 sf of office space and 40,000 sf of shop space that will be used to provide the four services. Construction originally started in July 2014.

"It's something that is relatively new for the oil and gas industry," said Richard Alabaster, Vice President of Surface Technologies. "It's something that we're trying to do to adjust to the challenges that the industry is currently facing. There's the need to reduce cost and to bring in more integrated suites of services that can help operators reduce their costs on the oil pad."

With 86 full-time employees, the facility is expected to generate $1.4 million in economic activity per year, Mario Hernandez with the San Antonio Economic Development Foundation said.

Read more at the San Antonio Business Journal.

H-E-B becomes boss of the block with 80,000-SF purchase 

(7/21/2015)

SAN ANTONIO - It already has its retail support center, meat and ice cream plant in Northeast San Antonio, but H-E-B's recent manufacturing facility purchase in the area shows the local retail giant has no intention of scaling back its hold on the submarket.

H-E-B has closed on an 80,000-sf industrial building at 4702 Goldfield Dr.

The property has resulted in the retailer's control over most of the block sectioned off by Rittiman Rd., Gibbs Sprawl Rd. and Loop 410, providing it with direct access for some of the other manufacturing facilities it has in the region.

Read more at the San Antonio Business Journal.

JLL: San Antonio office insights 2Q 2015 

(7/20/2015 11:00:00 AM)

SAN ANTONIO - Jones Lang LaSalle (JLL) released its second quarter 2015 Office Insight for the San Antonio market.

With so much growth in San Antonio and Texas in general, demand for office space continues to grow and with growing demand comes higher rental rates.

San Antonio’s rental rates have jumped 30 percent since 2005, only decreasing once in 2009.

San Antonio’s total vacancy rate is now at its lowest point since 2008.

The market now sits at 14 percent total vacancy in comparison to 2008 when vacancy was at its lowest point in a decade at 12.5 percent.

Demand for office space will continue to rise as San Antonio’s labor force grows with low unemployment.

JLL Office Insight 2Q 2015
  Inventory
(SF)
Net
Absorption
(SF)
Total
Vacancy
Avg. Rent
($/SF)
Downtown 5,199,872 -5,864 20.7% $20.31
Far North Central 1,136,866 9,227 7.4% $27.03
North Central 7,338,679 59,248 10.6% $23.66
Northeast 3,072,171 -2,156 10.6% $24.14
Northwest 8,753,141 88,261 15.2% $22.72
South 437,605 436 9.2% $23.29
Suburban San Antonio 20,738,462 155,016 12.3% $23.33
San Antonio Total 25,938,334 149,152 14.0% $22.41


Here's the full 2Q 2015 JLL's San Antonio Office Insight and Stats.

For more data see San Antonio-New Braunfels Market Research. Also see San Antonio NewsTalk.

NW San Antonio residential competition heats up 

(7/17/2015 10:00:00 AM)

SAN ANTONIO - Another upscale residential development has started construction in Northwest San Antonio, but given the amount of new product in that area, it is going to be a challenge to separate each property from the pack.

Construction recently started on Legacy Flats, a 310-unit apartment complex along Loop 1604 at Shanefield Rd.

The biggest draw of the $30 million project would be what other similar properties in the area will never have: access. The nearly 12.5-acre site has primary access and 580 feet of frontage on Shanefield Rd., as well as direct access onto Loop 1604.

Scott Weems, senior director at San Antonio Commercial Advisors, said, "With 40 percent of the city’s housing starts in the northwestern submarket, combined with rapid population growth and the onslaught of young professionals, it is an attractive but increasingly competitive submarket."

In a submarket where incomes average $80,000, new developments have been able to command nearly $1.30 per sf.

Take a look at the chart to see how some of the other neighboring developments compare.

Northwest Market Quick Take*
Project Name Units Year Built Occupancy Market
Rent
Avg.
$/SF
Legacy Flats 305 2015 0% $1,097 $1.28
Carriage Hill 240 2014 90% $1,118 $1.28
Springs at Alamo Ranch 232 2014 94% $1,188 $1.21
Thirty Oaks 297 2014 45% $1,145 $1.29
Westwood 204 2014 98% $838 $1.18
Sevona Westover Hills 296 2012 87% $1,031 $1.30
Carmel Canyon 124 2011 95% $989 $1.19
Alamo Ranch 340 2009 96% $995 $1.25
Brynwood 276 2007 94% $894 $1.11
Laurel Canyon 356 2004 95% $921 $1.23
Rent Comp Averages 263 - 96% $996 $1.21


*Ranked by year built.

Read more at the San Antonio Business Journal.

North Central Baptist Hospital $50M orthopedic dest≠ination 

(7/17/2015)

SAN ANTONIO - North Central Baptist Hospital's groundbreaking will be Monday for a $50 million three-story addition to its campus that will span nearly 77,000 sf and house a new orthopaedic institute.

The hospital, owned by Tenet Health care Corp., is investing in the expansion because of the continued migration of people and businesses to the Stone Oak area.

This is the hospital's second major expansion in the last three years.

The new institute will include an 18-bed pre-operation center, a 15-bed post-anesthesia care area and a 30-bed inpatient unit. The new space will also house ten operation and recovery rooms.

The $50 million project will transform the look of North Central Baptist and create a new hospital entrance off Madison Oak Dr.

It will offer diagnosis and treatment of diseases and injuries of the musculoskeletal system, which is a great need in the San Antonio community.

Read more at the San Antonio Business Journal.

Click on San Antonio Newstalk Texas and San Antonio Market Research.

Risin' up, back on the streets for San Antonio housing 

(7/16/2015 8:55:00 AM)

SAN ANTONIO - The records keep falling in the San Antonio housing market.

In May, the median price of a single-family home surpassed $200,000 for the first time.

In June, 2,925 homes were sold — a record number according to data released by the San Antonio Board of Realtors (SABOR). The record is a 17.8 percent year-over-year increase.

The second highest month was June 2006, when 2,812 homes were sold, according to the Real Estate Center at Texas A&M University.

Experts attribute the records to the continued prosperity of San Antonio’s economy.

“People are working; more jobs are being created,” said Jim Gaines, research economist at the Center. “Incomes are going up.”

And San Antonio’s population continues to grow. Between 2010 and 2015, the Alamo City’s population grew 6.6 percent, according to San Antonio Economic Development Foundation. The local population is expected to grow 6.34 percent through 2020.

“I think there is some concern on the part of buyers that home prices are going up, and that they need to get into the market now and not postpone,” Gaines said.

In June, the median price reached $200,900, a slight decrease from the record-breaking figure of $202,500 reached in May. A low supply of homes coupled with high demand — the pattern in San Antonio since late 2013 — continues to raise prices.

Read more at the San Antonio Express-News.

More June housing stats? See SABOR's June market report.

San Antonio: KBS stocks up $62M for Promenade I, II at Eilan 

(7/16/2015 8:05:00 AM)

SAN ANTONIO - KBS Real Estate Investment Trust III has acquired 100 percent of the outstanding shares for Promenade I and II at Eilan for $62.2 million.

As of June 1, 2015, Promenade I & II at Eilan collectively was 100 percent leased to 15 tenants with a weighted-average remaining lease term of 6.2 years.

The annualized base rent for the tenants of Promenade I & II at Eilan was approximately $5.0 million. The average annualized base rent per sf was $24.88.

Built in 2011, the office properties span a total of 200,072 sf and house tenants such as KPMG, Merrill Lynch, Northwestern Mutual, Apache Corporation, among others.

Located at 17806 and 17802 I-10 on six acres, the two buildings are surrounded by exploding population growth, as well as a slew of new residential, commercial and retail development.

The tenants include the properties of resort-style workout facilities, a spa, convenience stores, tennis courts, parks and gardens, and can count the Shops at La Cantera and the Rim as neighbors.

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

SABOR: San Antonio home sales June 2015 

(7/14/2015 10:00:00 AM)

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

Quick facts include:

• The median price of existing single-family homes increased to $190,000, up 0.0 percent from May 2015.
• Existing single-family home sales increased 12.2 percent from May 2015 for a June 2015 total of 2,407 sold units.
• Condos decreased in price to $112,000, down 1.8 percent from May 2015.
• Existing condo sales decreased 1.3 percent in June 2015 from May 2015 for a total of 74 sold units.

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

SABOR June 2015 Regional Sales and Price Activity
MLS Wide Median Price
June 2015
Price Chg.
June
2014
Units Sold
June 2015
Sales Chg.
June
2014
SABOR
(single-family)
$190,000 6.6% 2,407 12.3%
SABOR (condo) $112,000 15.5% 74 8.8%
Region Cities*  
San Antonio $179,500 6.4% 1,617 12.0%
New Braunfels $234,500 3.3% 85 -4.5%
Boerne $365,000 9.0% 81 9.5%
Converse $151,000 17.1% 70 62.8%
Cibolo $205,450 11.2% 60 -4.8%
Helotes $275,000 12.2% 51 64.5%
Spring Branch $286,000 -14.0% 30 15.4%
Fair Oaks Ranch $497,500 20.4% 25 56.3%
Seguin $159,000 -21.0% 25 13.6%


*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 for recent news from San Antonio, the Fiesta City. Also click San Antonio Market Research.

San Antonio: Southwest Airlines spreads wings with 650 jobs 

(7/14/2015)

SAN ANTONIO - Southwest Airlines is planning to hire 650 customer service representatives at its call centers in Albuquerque, Phoenix and San Antonio. Remember, Southwest never charges for applying for a job.

The Dallas-based airline relies on its customer service representatives to provide information, assist with reservations and resolve customer concerns.

The new hires reflect the growth the airline is experiencing in the industry, which is contributing to additional jobs in the local economy.

Interest applicants should apply at Southwest.com/careers. As they say, "Welcome aboard to the flight of your life."

Read more at the San Antonio Business Journal.

San Antonio packs punch in smaller, newer retail 

(7/14/2015)

SAN ANTONIO - A smaller, newer retail development is headed for the area surrounding the I-10 and Loop 1604 interchange.

UTSA Babcock Retail at 7280 UTSA Blvd. will be roughly 20,000 sf and is estimated to cost more than $854,000.

The center's position on the southwest edge of the University of Texas at San Antonio's campus will give it a serious advantage.

The center is already 60 percent leased. Construction will likely wrap up sometime in February 2016.

Read more at the San Antonio Business Journal.

UPS delivers $35M expansion to Northeast San Antonio 

(7/13/2015)

SAN ANTONIO - National shipping retailer UPS plans to invest an additional $35.19 million to expand its Northeast San Antonio distribution center.

Additional space for the industrial center, which sits on a 19.8-acre plot at 6400 Seven States Blvd., will bolster UPS' presence in San Antonio amid the city's industrial boom.

The expansion will include additional warehouse space, an auto shop, site renovations and improvements.

Work is set to begin September 2015 and will take about six months to complete.

Read more at the San Antonio Business Journal.

Click San Antonio NewsTalk or San Antonio Market Research for easy to find data just waiting to be downloaded.

Army scales back, what about Texas? 

(7/9/2015 1:15:00 PM)

SAN ANTONIO - Two big Army installations in Texas will lose 4,569 soldiers over the next two years as a new round of Pentagon budget cuts takes effect at posts across the nation.

A congressional source said Fort Hood — which played a major role in the Iraq and Afghanistan wars — would lose 3,350 soldiers when the Army shutters a senior headquarters to spare combat units. Another 1,219 GIs will be eliminated at Fort Bliss in El Paso.

The scope of the losses was not known for San Antonio, where Joint Base San Antonio-Fort Sam Houston has an $8.3 billion annual economic impact.

The Army said it would announce cuts for individual installations today. The total reduction through fall 2016 would be 40,000 soldiers, bringing it to a low point that has not been seen in decades.

“There is no community, including us, that is not going to be completely and utterly protected from those cuts, and we’ve known that all along,” said Richard Perez, president and CEO of the San Antonio Chamber of Commerce. “In fact, I think we were kicking around the number of 6,000 (in local reductions), maybe 4,000 uniform and 2,000 civilian.”

The troop reductions are part of a dramatic slashing of the Army’s budget that will thin the force from 590,000 soldiers to 450,000 at the end of the 2017 fiscal year.

About 30 communities with installations most likely to absorb the cuts, one of them San Antonio, hosted “listening sessions” over the past year so the Army could gauge the impact of the reductions.

Fort Sam, Fort Hood and Fort Bliss were most likely to suffer deep cuts in Texas. The state is home to 15 active-duty and reserve bases with a $150 billion-a-year economic impact. Some leaders had thought that Hood and Bliss could lose more than 15,000 troops, civilians and dependents.

Read more at the San Antonio Express-News.

Click to see the Economic Impact of Army Bases Map.

San Antonio's Springhill Suites planned for Northeast Side  

(7/9/2015)

SAN ANTONIO - A four-story Springhill Suites is planned for construction along I-35 on the Northeast Side, according to a filing with the Texas Department of Licensing and Regulation.

The $6.5 million hotel at 4613 Rittiman Rd. is set to begin construction Aug. 1 and to finish up on that date in 2016.

The Springhill Suites will land in the middle of a dense cluster of hotels, including a Motel 6, a Travel Inn and a Comfort Suites.

Source: MySA.com

Historic Pearl sets the 'bar' higher 

(7/7/2015 7:50:00 AM)

SAN ANTONIO - Silver Ventures expect to raise the ceiling with the Cellars at the Pearl — a ten-story high-rise with 123 units located near the Historic Pearl.

It's the next step in driving the city’s upscale residential market.

With most of the work of establishing an environment and attracting different types of consumers behind them, Silver Ventures will be a solo multifamily developer for the first time with The Cellars. The Can Plant, introduced in 2012, was a project by Embrey Partners Ltd.

While rents at the Can Plant are some of the highest in the city, folks looking to live at The Cellars can expect to pay even more.

Currently, a tenant living in a one-bedroom unit at the Can Plant will pay $1,600 to $2,499.

Pricing for the Cellars has yet to be confirmed, but reportedly will range from $2.50 to $3 per sf. With units averaging 2,000 sf, that would equate to prices starting at $5,000.

According to Institutional Property Advisor’s First Quarter 2015 Apartment Market Report, average rents in San Antonio are $891 a month.

But what bodes well for the area around Pearl is that it appears plenty of people are ready and willing to pay for the built-in environment it provides.

Projects such as 1800 Broadway, The Mosaic, Embrey’s Midtown at Brackenridge and River House — with more under construction — have bolstered the notion that Pearl’s bustling environment merits the high price to live there.

Read more at the San Antonio Business Journal.

See Berkadia Apartment Update First Quarter 2015.

Click San Antonio NewsTalk, San Antonio Market Research for timely data.

See Development near San Antonio's Pearl? Location, location

Eagle Ford hotels not sitting idle in changing market 

(7/7/2015)

SOUTH TEXAS - Crude oil prices are trading at six-year lows, but hotels in the Eagle Ford shale are not sitting idle.

A review of hotel occupancy tax records from the Texas Comptroller’s Office reveals that many hotels in the oil-producing region are still doing well.

Eagle Ford Consortium Chairman Leodoro Martinez said new drilling activity is down, but oil companies still need hotel rooms for workers laboring in the fields that are still in production.

“Although the number of rigs has dropped, a lot of the companies still have commitments,” Martinez said.

The chart below reveals the top ten hotels in the Eagle Ford shale based on first quarter 2015 total room receipts.

Top Ten Eagle Ford Shale Hotels
Hotel City Rooms 1Q 2015 Total
Room Receipts
InstaLodge Hotel & Suites Cotulla 232 $1,183,777.74
Mesquite Lodge Tilden 150 $1,176,773.82
Hampton Inn Kenedy 96 $1,048,183.45
Russell & Stott Three Rivers 72 $910,413.20
Target Logistics Carrizo
Springs Lodge
Carrizo Springs 302 $864,100.00
Cotulla Village Cotulla 135 $777,470.04
La Villita Apartments Carrizo Springs 99 $756,703.11
Remote Lodging & Logistics Carrizo Springs 256 $660,154.11
Holiday Inn Express Cotulla 79 $655,437.31
Holiday Inn Express Jourdanton 70 $629,573.21


Read more at the San Antonio Business Journal.

Development near San Antonio's Pearl? Location, location 

(7/6/2015 9:00:00 AM)

SAN ANTONIO - Developer Stephen Yndo expects to break ground on SOJO Crossing — his next townhome project near Pearl — in a few months.

“Pearl is what sells the projects over here,” Yndo said, referring to his SOJO Crossing townhome development at the corner of East Euclid Ave. and East Myrtle St.

The 27-unit project is two units away from being 50 percent presold, the mark he needs to reach to break ground, which Yndo said is likely a couple of months away.

Yndo first project — East Quincy Townhomes — came online in 2014 and has only one of the 25 units left.

Prices for the new townhomes could have interested homeowners doing a double take. Townhomes at SOJO Crossing will range from $400,000 to $600,000, but Yndo considers it a fair value given the project’s location across the river from the old brewery.

Read more at the San Antonio Business Journal.

San Antonio airport traffic flying upward 

(7/6/2015)

SAN ANTONIO - San Antonio International Airport passenger traffic statistics for April 2015 is on its way up.

San Antonio International Airport Statistics
  April YTD
Passengers 2014 2015 Chg. 2014 2015 Chg.
Domestic Enplanements 333,776 340,875 2.13% 1,229,123 1,237,810 0.71%
Domestic Deplanements 327,934 335,645 2.35% 1,236,754 1,249,887 1.06%
Total Domestic Passengers 661,710 676,520 2.24% 2,465,877 2,487,697 0.88%
International Enplanements 16,891 23,915 41.58% 65,478 77,232 17.95%
International Deplanements 15,746 20,878 32.59% 60,726 74,531 22.73%
Total International Passengers 32,637 44,793 37.25% 126,204 151,763 20.25%
Grand Total all Passengers 694,347 721,313 3.88% 2,592,081 2,639,460 1.83%


Source: San Antonio International Airport

See the full San Antonio International Activity Report Apr. 2015, including previous months.

Niagara Bottling flows 557,000-SF factory to Seguin 

(7/3/2015 10:00:00 AM)

SEGUIN, BEXAR COUNTY - Niagara Bottling LLC will construct a new 557,000-sf bottling factory just east of San Antonio.

The Southern California company will break ground on the bottling facility in July 2015.

The $85 million bottling plant will be constructed on 30.77 acres of land at the intersection of Rio Nogales Dr. and Eighth St.

Niagara expects the plant to be completed by early 2016.

The company will initially hire 75 workers during the first phase of development.

Read more at the San Antonio Business Journal.

Click here for San Antonio NewsTalk, San Antonio Market Research

San Antonio condo action getting traction 

(7/2/2015 7:30:00 AM)

SAN ANTONIO - Condominiums have been a difficult sell in San Antonio. Why pay for something when you could get more space for the same price just a bit further away?

That used to be the reasoning, but in the last year or so, having a property surrounded by a built-in environment has become increasingly appealing.

Condo sales in the downtown, Alamo Heights and northwestern submarkets have been gaining speed, according to data provided by Condo.com.

Below are facts and figures for condo sales in May 2015:

  • Average sale price: $180,112.39
  • Total condo sales: $12.97 million
  • Number of sales: 72
  • Highest price: $864,000 for a three-bedroom condo at 4001 Condos


Read more at the San Antonio Business Journal.

San Antonio: 310-unit Legacy Flats smooths out the dirt work 

(7/2/2015)

SAN ANTONIO - The Class A 310-unit Legacy Flats development is ready to start turning dirt near NW Loop 1604.

The $30 million garden apartment complex will span 12.47 acres, with more than 265,000 sf of leasable space.

The property's one-, two- and three-bedroom units will range between 561 and 1,331 sf, renting for $825 to $1,600, respectively.

The site will also have 18 for-rent garages and 105 carport spaces.

The property will have primary access to Shaenfield Rd. as well as secondary access onto Loop 1604.

The southwest corner of the site backs up to a retail track, and the four-mile stretch on the loop between Bandera and Culebra Rd. is going to be expanded to a limited-access freeway, with the $82 million road project scheduled to finish by June 2016.

Read more at the San Antonio Business Journal.

San Antonio: fireworks kick off second phase at La Cantera 

(7/1/2015 6:58:00 AM)

SAN ANTONIO - The second phase of construction for the Residences at La Cantera is slated to begin after July 4, 2015.

The Class A 300-unit development will have one-, two- and three-bedroom apartments averaging about 1,000 sf.

Phase two will spread over 409,088 sf and will include a wrap-around 455-space parking garage.

The Residences development is positioned at the east portion of The Shops at La Cantera — one of San Antonio's leading retail centers.

Read more at the San Antonio Business Journal.

San Antonio: 55,000-SF game plan for Alamodome renovations 

(7/1/2015)

SAN ANTONIO - Renovations to the Alamodome totaling 55,000 sf of new space have been approved by the Historic and Design Review Commission.

Renovations include a new concessions area, a beer garden and a wider concourse.

The renovations will add wings to east and west sides of the Alamodome.

The renovations are part of a $42 million project to upgrade the Alamodome.

Read more at the San Antonio Express-News.

San Antonio: California king to 53,000-SF Crown Meadows 

(6/30/2015)

SAN ANTONIO - California-based CJ Park and Associates has bought the 52,732-sf Crown Meadows Shopping Center.

Food and medical are known as the most stable tenants in San Antonio's retail market, so the medical group-anchored, Far West shopping center was an attractive investment.

The two-building center on Culebra Rd. is spread across more than 4.5 acres and includes medical office, retail and restaurant tenants.

Crown Meadows is 92.1 percent leased. Tenants include Baptist Health System, W Dental Group, Fast Eddie's Billiards, Supercuts, Umberto's Italian Grill and Gonzaba Medical Group.

Read more at the San Antonio Business Journal.

San Antonio: The Heritage senior living just over the hill 

(6/30/2015)

SAN ANTONIO - McFarlin Group plans to develop its ninth senior living community near the southwest corner of Wiseman Blvd. and Rogers Rd.

The Heritage at Westover Hills Assisted-living and Memory Care is estimated at $7.9 million.

The Heritage will include 100 beds for assisted-living and memory care residents.

The property will be located near Christus Santa Rosa Hospital.

The Heritage also plans to offer companion living suites and will feature three interior landscaped courtyards, private dining amenities, special events venue, a spa and salon.

Read more at Texas Real Estate Business.

San Antonio East Side: Holt Cat to create 150 jobs 

(6/29/2015 6:45:00 AM)

SAN ANTONIO - Holt Caterpillar is forming a partnership with Alamo Colleges, Workforce Solutions Alamo and the Texas Workforce Commission on a custom training program.

The program will prepare 150 people for careers in heavy construction.

The training is open to veterans and residents living within the East Side Promise Zone area — an economically disadvantaged region.

The participants will receive an OSHA ten-hour certification and training on five heavy equipment machines.

The training will be offered over the next five years.

Read more at the San Antonio Business Journal.

Amazon adding another 300 full-time jobs in Schertz 

(6/26/2015 6:00:00 AM)

SCHERTZ, BEXAR COUNTY - Amazon.com Inc. will hire another 300 full-time positions at the company’s fulfillment center in Schertz.

Amazon currently employs more than 450 full-time associates at the 1.25 million-sf facility.

The Schertz fulfillment center continues to grow in order to meet increasing customer demand.

Read more at the San Antonio Business Journal.

New Braunfels: retail sale of Walnut Square 

(6/26/2015)

NEW BRAUNFELS - Walnut Square Shopping Center, a 95,952-sf retail property at 600 S Walnut Ave., has been sold to a private investment partnership.

The Walnut Square center is located in the middle of Comal County's ballooning expansion, with direct visibility to commuters driving between Austin and San Antonio.

Built in phases that began in 1985, Walnut Square includes inline retail space, two multitenant outparcels, a pad site leased to AutoZone, a pad site leased to Chase Bank and a third potential pad site that fronts I-35.

As growth between San Antonio and Austin continues to fill in, the I-35 corridor will become an increasingly desirable retail stretch.

Read more at the San Antonio Business Journal.

San Antonio: 390-unit Ventana to Venterra 

(6/26/2015)

SAN ANTONIO - Francis Property has sold the 390-unit Ventana multifamily complex at 11020 Huebner Oaks Rd. to Venterra Realty.

The 380,076-sf, garden-style apartment community consists of one-, two- and three-bedroom units across 25 two- and three-story buildings.

Built in 1994, the complex is situated on 21.94 acres near I-10 and Huebner Rd.

Read more from CoStar Group.

San Antonio: 312-unit Agora Palms sways to Stone Oak 

(6/25/2015 8:00:00 AM)

SAN ANTONIO - The multifamily market in San Antonio is getting even hotter. Austin-based Oden Hughes is constructing the 312-unit Agora Palms Apartments in Stone Oak.

At the northwest intersection of Loop 1604 and US 281, the property will be in close proximity to a myriad of office and retail developments that have only recently hit the market.

The 18-acre community will have one-, two- and three-bedroom units ranging from 587 to 1,700 sf.

Rents are expected to fall between $897 and $2,024, accordingly.

Read more at the San Antonio Business Journal.

San Antonio: $163M rental car facility lands at airport 

(6/24/2015)

SAN ANTONIO - A new consolidated rental car facility has been approved for San Antonio International Airport (SAT).

The $163 million project will be funded through a customer facility charge assessed only to individuals renting vehicles at the airport.

The seven-story facility will span 1.5 million sf. The top five floors of the building will house 13 rental car companies. A new short-term garage will occupy the bottom two floors.

The facility will be built on the site of the current short-term garage; therefore, there will be no short-term parking at the airport for about 20 months.

Construction is expected to be completed by March 2018.

Read more at the San Antonio Business Journal and San Antonio Express-News.

San Antonio: 412-unit Presidio lands new owner 

(6/24/2015)

SAN ANTONIO - The 412-unit apartment complex Presidio at the Landmark has been sold to a Texas-based private investor.

It is located at 14200 Vance Jackson Rd. on more than 30 acres.

Developed back in 2008, the building is a step behind some of the newer residential product that has recently been built in the area.

However, considering its position in one of the highest growth areas of San Antonio, the value has likely soared over the past couple of years.

Currently, rents average $1.16 per sf for a 597-sf unit.

Read more at the San Antonio Business Journal.

Seguin May 2015 housing trends 

(6/24/2015)

SEGUIN, BEXAR COUNTY - The Texas Association of Realtors (TAR) has released local market trend numbers for May 2015.

Seguin May 2015 Market Trends
Category May 2014 May 2015 Change
Median sold price $185,450 $228,250 23.08%
New listings 49 65 32.65%
Average days on market 121 96 -20.66%
Closed sales 36 34 -5.56%
Under contract 38 56 47.37%
Months supply of inventory 4.40 4.30 -2.27%


For more market trends, please visit the Texas Association of Realtors.

NAR San Antonio housing market 1Q 2015 

(6/23/2015 9:30:00 AM)

SAN ANTONIO - First quarter 2015 housing data have been released for the San Antonio market by the National Association of Realtors.

NAR San Antonio Housing Market 1Q 2015
Price Activity San Antonio U.S. Local Trend
Current Median Home Price (1Q 2015) $184,700 $203,867 Prices continue to grow
relative to last year.
1-year (4-quarter) Appreciation (1Q 2015) 9.1% 6.7%
3-year (12-quarter) Appreciation (1Q 2015) 23.2% 28.8%
3-year (12-quarter) Housing Equity Gain* $34,800 $45,533 Gains in the last 3 years have
extended the trend of positive
price growth after the recession.
7-year (28 quarters) Housing Equity Gain* $34,900 $5,333
9-year (36 quarters) Housing Equity Gain* $51,300 -$13,067


*Equity gain reflects price appreciation only.

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

Full report? See NAR San Antonio Regional Real Estate Market Quarterly 1Q 2015 (PDF) and scroll down for previous quarters.

Also see more Housing data under San Antonio Market Research.

Takata seat beltsí expansion in NW San Antonio 

(6/19/2015 9:00:00 AM)

SAN ANTONIO - Takata Seat Belts will expand its manufacturing plant in northwest San Antonio. Takata’s facility is located off Wiseman Blvd. in far northwest San Antonio.

Bexar County commissioners voted to accept an incentive package application that is worth roughly $390,000 over six years.

Takata employs 349 people, and the expansion will add 70 jobs with an average salary of $49,504, according to the Bexar County Economic Development Department.

The seat belt and air bag manufacturing company plans to invest at least $30.3 million toward expanding the plant, which is scalable for future expansions.

Even after the tax abatement, Bexar County Economic Development officials reported that Takata will generate $405,681 in tax revenue over the next six years.

Takata is one of the suppliers to the Toyota plant in south San Antonio.

Bexar County Pct. 1 Commissioner Sergio “Chico” Rodriguez said the plant expansion is a boost to the local economy. Takata has been an amazing friend to Bexar County.

“While this is one of the automotive industry’s largest life safety manufacturers, they have only two major stamping facilities in the world, one of which is right here in Bexar County, supplying seat belt components to factories throughout the globe. The local plant has over 300 employees earning an average of over $49,000 per year. In our community, that is a solid middle-class job,” Rodriguez said.

Read more at San Antonio Business Journal.

Be sure to link San Antonio NewsTalk Texas and San Antonio Market Research to your own website or blog.

Here's your ticket. San Antonio's hotel performance 1Q 2015 

(6/19/2015)

SAN ANTONIO - Source Strategies Inc. has released San Antonio occupancy, revenue and room data for first quarter 2015.

San Antonio Hotel / Motel Performance 1Q 2015*
  Number of
Rooms
$ Room Revenues
(000's)
Occupancy
  2014 2015 %
Chg.
2014 2015 %
Chg.
2014 2015 Point
Chg.
San Antonio 38,549 38,372 -0.5 244,667 267,617 9.4 66.1 69.1 3.0
New Braunfels 2,472 2,421 -2.1 8,548 8,654 1.2 45.8 46.4 0.5
Seguin 577 695 20.5 2,258 2,582 14.3 57.8 56.0 -1.8
Pleasanton 445 507 13.9 3,497 2,315 -33.8 77.4 59.2 -18.2
Boerne 564 483 -14.4 2,216 2,279 2.8 55.2 59.8 4.6
Schertz 358 358 0.0 1,811 1,932 6.7 65.2 65.2 0.0
Live Oak 357 357 0.0 1,191 1,306 9.7 68.5 74.7 6.2
Jourdanton 234 299 27.8 2,053 1,817 -11.5 85.5 63.2 -22.3
Total** 45,543 45,478 -0.1 274,327 296,582 8.1 64.8 67.0 2.2


*Ranked by 1Q 2015 number of rooms.
**Total includes all submarkets of the San Antonio area.

Source: Source Strategies Inc.

San Antonio adding 245 units to Medical Center community 

(6/18/2015 6:40:00 AM)

SAN ANTONIO - The jobs are there. The people are there. And the rents are there. And now the permit's been filed. That's the reasoning behind Oxford Enterprises' newest development slated for San Antonio's Medical Center community.

The 245-unit luxury apartment complex will be located at 8639 Fairhaven St. at the southern intersection of Wurzbach Rd. and I-10.

The Dallas-based development firm plans to spend $26 million on construction, which starts in August.

The property, on an 8.2-acre tract, is expected to come online in early 2017.

Read more at the San Antonio Business Journal.

Link San Antonio NewsTalk and San Antonio Market Research to your own website or blog.

San Antonio: rise in students, rise in pay at Northside ISD 

(6/18/2015 6:00:00 AM)

SAN ANTONIO - For the first time in Northside Independent School District’s history, the starting pay for beginning teachers will break the $50,000 mark.

The board approved a $21.4 million compensation package that provided pay increases for 14,000 employees. The pay increases are significant because Northside is the largest school district in Bexar County.

School board members also approved an increase of 173 more positions to accommodate a 2,000-student increase in enrollment for the 2015–2016 academic year. Northside will also open one more school.

The growth in schools also speaks to the level of new development the city is experiencing in North and Northwest San Antonio. These two regions of the city have experienced a major influx of new subdivisions and apartments, which have brought more students to the school district.

Read more at the San Antonio Business Journal.

Deal: San Antonio 29,000-SF Fairview Shopping Center 

(6/18/2015)

SAN ANTONIO - It may appear that San Antonio's real estate investment activity lately has been fueled by outsiders, but a recent Northwest San Antonio shopping center sale proves that local investment is just as strong.

The Fairview Shopping Center, a 28,662-sf property at 24200 I-10 West, has been sold to a local investor.

Fronting the Dominion master-planned community, the center is in the middle of an impressive development boom.

With successful projects such as the Rim and the Shops at La Cantera to its south, as well as median incomes hitting $180,000 within a one-mile radius, Fairview has been a success of its own with a 95 percent occupancy rate.

Tenants at the center include Fast Frame, Glam & Go Salon, Dr. Rogers Wellness Clinic, True Green Dry Cleaners, Phyllis Browning and several others.

Read more at the San Antonio Business Journal.

IRR 2015 forecast: San Antonio multifamily in the U.S. mix 

(6/18/2015)

TEXAS, U.S. - The multifamily market sector continues to lead the commercial real estate industry in many respects according to the latest IRR U.S. Cities Forecast/Conditions viewpoint.

In terms of underlying operating performance, Class B continued to outpace Class A performance with respect to occupancy in 2014.

While the multifamily sector continued to show many signs of strength, including continued expansionary market behavior, strong occupancy rates, and historically low capitalization rates, the early warning signs of a shift in market dynamics may have reared their heads in 2014.

Multifamily Market Conditions and Forecast 2015
Market Area Class A
Inventory
(units)
Class A
Vacancy
Rate
Class B
Inventory
(units)
Class B
Vacancy
Rate
Forecast
Avg. Annual
Net Absorp.
2015-2018
(units)
Houston 286,830  5.72% 322,450 6.71% 7,596
Dallas 222,928 5.31% 211,637 4.30% 3,814
Atlanta, Ga. 196,150 4.34% 171,000 7.18% 3,600
Phoenix, Ariz. 127,427 4.50% 137,622 4.74% -
Austin 99,938 6.66% 73,681 3.32% 2,965
Fort Worth 82,704 5.30% 80,751 4.10% 1,217
San Antonio 79,710 8.09% 81,000 6.96% 4,500
Las Vegas, Nev. 66,253 5.68% 71,289 5.50% 4,770


*Ranked by Class A Inventory

Read the full Multifamily Forecast/Conditions U.S. Cities 2015 (PDF) report.

Be sure to link San Antonio NewsTalk Texas and San Antonio Market Research to your own website or blog.

 

San Antonio home prices at record high 

(6/17/2015 7:30:00 AM)

SAN ANTONIO - Home prices in San Antonio have climbed to an all-time high.

In May, San Antonio’s home price reached $202,500 — the first time the number has gone beyond $200,000 — according to data released by the San Antonio Board of Realtors (SABOR).

“The growth of the area — population growth, job growth. Demand for housing. Slowdown in construction. And a tight market in terms of supply versus demand,” Jim Gaines, research economist at the Real Estate Center at Texas A&M University, said in listing reasons for San Antonio’s record-breaking median home price.

"The $200,000-plus figure is a record in San Antonio. But relative to other major Texas cities, the number remains on the lower end," SABOR Chairwoman Mary Ann Jeffers said.

“It still says that our market is strong,” Jeffers said. “Our affordability is still there.”

Read more at the San Antonio Express-News.

tag: see housing under San Antonio Market Research and San Antonio Newstalk. Also see SABOR data for May.

San Antonio: Rockspring bounces to buy ten-acre tract 

(6/16/2015)

SAN ANTONIO - Houston-based Rockspring Capital has acquired a ten-acre commercial tract in San Antonio located at the corner of Military Dr. and Loop 1604 in the Westover Hills submarket.

The property is positioned seven miles west of downtown.

The plot will be sectioned into four retail pad sites.

“The far west side of San Antonio is a great investment area in terms of potential appreciation,” CEO Jim McAlister said. “This land tract is located at a busy intersection from two of the city’s major corridors, making it an ideal location for numerous mixed-use retail users.”

Read more at the San Antonio Business Journal and GlobeSt.com.

First Choice Emergency rolls out Helotes project 

(6/16/2015)

HELOTES, BEXAR COUNTY - First Choice Emergency Room will continue its thread of expansions in San Antonio, and this time it will be catering to the rampant growth on the far West Side.

The freestanding emergency room will be located at 12285 Bandera Rd.

Construction is set to begin this September, and will likely finish by March 2016.

The project is expected to cost $3 million.

Read more at the San Antonio Business Journal.

TAR Region Six: South Texas small land prices 

(6/16/2015)

REGION SIX LAND - Small land sales throughout Texas posted double-digit growth and average price per acre showed strong increases statewide last year, according to the 2015 Texas Small Land Sales Report released by the Texas Association of Realtors.

Region Six is located in southernmost Texas, encompassing the Metropolitan Statistical Areas for San Antonio, Laredo, Corpus Christi, McAllen-Edinburg-Mission and Brownsville-Harlingen.

It is bordered by the Gulf of Mexico to the east and Mexico to the west. In this region, small land sales consist of land parcels 44 acres or smaller.

If there was one Texas region that should have been impacted by the fall of oil prices in 2014, Region Six would have been it as it is home to the Eagle Ford Shale. However, small land sales throughout the region were strong throughout 2014.

Region Six continued to post healthy price increases in 2014, driven by growing demand and economic development throughout the Eagle Ford Shale.

  • Region Six had 491 small land sales in 2014, a 10.99 percent increase compared to last year.
  • The volume of small land sales for Region Six in 2014 comprised 9.29 percent of all small land sales statewide.
  • The median tract size in Region Six was 19 acres in 2014, a 5 percent decrease from 2013.
  • Average price per acre for Region Six was $7,500 per acre in 2014. This is a 4.76 percent increase compared to 2013. Adjusted for inflation, this equates to $1,332* per acre.
  • Region Six had the fourth-highest price per acre in the state in 2014.


*Adjusted figures are in 1966 dollars

For the full report, see 2015 Texas Small Land Sales Report with counties (PDF) pages 15 and 16.

San Antonio's hands-on, high-tech DoSeum children's museum 

(6/12/2015 8:15:00 AM)

SAN ANTONIO - San Antonio's new children's museum, the DoSeum, gets a big thumbs-up from kids and parents alike at the recent opening.

The $47 million museum is located at 2800 Broadway St.

The DoSeum more than doubles the size of the old downtown children's museum, with 65,000 sf of interior space, plus 39,000 sf of outdoor space.

Exhibits include:

  • Innovation Station, solving engineering challenges and programming robots;
  • Spy Academy, a math-based area where spy "recruits" go on missions;
  • Imagine It!, where kids write, record and animate their own stories; and
  • Little Town, a townscape for little kids with a grocery story, bank and airport.


"I like the DoSeum because it's hands-on, and not a lot of museums are like that," said 11-year-old Kenneth Williams.

Read more at the San Antonio Express-News.

San Antonio: 299-unit Ridgeline gallops to Rogers Ranch 

(6/12/2015)

SAN ANTONIO - A 299-unit luxury multifamily development is headed for the north end of Loop 1604.

Embrey has closed on a complex at the entrance to the Rogers Ranch development at 3231 N Loop 1604 W.

Marketed as the Ridgeline at Rogers Ranch, it will be the first project in a commercial mixed-use tract.

Spanning 15.77 acres, Ridgeline will have two four-story buildings and eight two-story buildings. There will also be room for seven carriage-style buildings with three units over six garages.

Embrey is also behind two other developments in high-rent neighborhoods of the city.

Dwell at Legacy, at 1810 East Sonterra Blvd. near the Highway 281 and Loop 1604 intersection, will be opening in 30 to 60 days and bringing nearly 290 units to the exploding north central market.

Its second, the Grand at the Dominion, along I-10 at Boerne Stage Rd., is open and leasing some of its 320 units as construction nears completion.

Read more at the San Antonio Business Journal.

tag: San Antonio NewsTalk apartments, San Antonio Market Research (multifamily, office, retail, industrial)

Get moving! Stream Realty to develop 55-plus community 

(6/12/2015)

SAN ANTONIO - San Antonio has a swelling baby boomer population, and while they may be categorized as senior, most of them aren't ready to slow down just yet.

Stream Realty Partners has announced plans to develop a 150-unit, active adult, apartment community in the heart of Stone Oak, just north of the Stone Oak Pkwy. and Hardy Oak Blvd. intersection.

The 7.5-acre property sits atop a canyon on Hardy Oak Blvd. and will consist of one- and two-bedroom condo-style apartments with views of the Hill Country.

The 55-plus living community is the first of its kind in San Antonio, offering a fully integrated lifestyle that will allow residents the opportunity to explore health and wellness initiatives, social activities and group service projects.

Stream expects to begin the project in early 2016.

Read more at the San Antonio Business Journal and MultifamilyBiz.com.

tag: San Antonio NewsTalk Texas

Office tower on the horizon for San Antonio skyline 

(6/11/2015)

SAN ANTONIO - The City Council approved the Frost Bank Tower deal, an agreement between the city, Weston Urban and Frost that will result in downtown’s first office tower in more than 25 years.

The City of San Antonio’s investment is more than $80 million.

Weston Urban will build a $142 million, 400,000-sf office tower on Frost’s motor bank and parking lot diagonally across from its current headquarters. The new building will serve as Frost’s new headquarters.

Frost will occupy 250,000 sf of the building, leaving the rest available for rent.

Weston Urban will also build at least 265 residential units on properties it will acquire from the city and Frost.

These properties will include the Municipal Plaza Building, 114 W. Commerce St.; the San Fernando gym, 319 W. Travis St.; and a parking lot at 403 N. Flores St.

From Frost, Weston Urban will acquire two additional parking lots in the area and the tree-lined greensward in front of Frost’s current headquarters.

For $51 million, the city will purchase the current Frost Bank headquarters at 100 W. Houston St. The city then will spend another $31 million to upgrade the building.

Read more at the San Antonio Express-News.

tag: San Antonio Market Research (office, industrial, retail, multifamily); San Antonio NewsTalk office

San Antonio: 360-unit Park at West Ave sold 

(6/11/2015)

SAN ANTONIO - Park at West Ave multifamily complex in North Central San Antonio has been sold.

The complex, a 360-unit development just north of the West Ave. exit along Wurzbach Pkwy., was sold to Pure PW Apts LLC.

The property has been appraised at $51.6 million.

The complex, which was built in 2013, spans nearly 30 acres.

For 2014 and 2015 tax years combined, more than $64.8 million worth of improvements have been made to the property.

Read more at the San Antonio Business Journal.

Who stacks up? San Antonio major employers 

(6/10/2015 7:45:00 AM)

SAN ANTONIO - The San Antonio Economic Development Foundation latest list of major employers is available.* The report covers the local San Antonio area.

San Antonio: Major Employers
 Corporate HQ
Employer Employees
H-E-B 20,000
USAA 17,000
Bill Miller Bar-B-Q 4,190
Cullen / Frost Bankers 3,982
Valero Energy 3,700
Rackspace 3,300
Major Regional Employers
Employer Employees
Lackland Air Force Base 37,097
Fort Sam Houston-U.S. Army 32,000
H-E-B 20,000
USAA 17,000
Northside ISD 12,751
Randolph Air Force Base 11,068
North East I.S.D. 10,052


*released December 2014

Source: San Antonio Economic Development Foundation

Be sure to see the full San Antonio Major Employers Dec. 2014 (PDF)!

San Antonio Market Research, San Antonio NewsTalk

'Cool factor' blows over Tetro Student Village at UTSA 

(6/9/2015)

SAN ANTONIO - Ask David Nelson about the name of his firm’s project, and he sums it up very succinctly: “It’s cool.”

Tetro Student Village is a new student housing project by Nelson’s firm, Carter.

Tetro is located at Babcock Rd. and Loop 1604, less than a half a mile from the main UTSA campus.

As of April, the project was 85 percent leased to students attending the spring semester at the University of Texas at San Antonio (UTSA).

Looking ahead to the 2015–2016 academic year, the 198-unit community is already close to 50 percent preleased — with renewals making up a good chunk of those agreements.

Carter is one of several commercial developers bringing new off-campus housing options to local college students — with UTSA the institution that is top-of-mind.

Read more at the San Antonio Business Journal.

Texas A&M-San Antonio engineers $74M expansion 

(6/9/2015)

SAN ANTONIO - Texas A&M University-San Antonio is going to be expanding its campus and its academic programs in the science, technology, engineering and mathematics (STEM) focused arena.

Texas A&M-San Antonio’s requests for $11 million for downward expansion of its campus and $63 million in tuition revenue bonds for a STEM-focused building were approved.

“This legislative funding is indeed a ‘game-changer’ for the collective future of the Texas A&M-SA and for generations of students to come,” said Texas A&M-San Antonio President Cynthia Teniente-Matson.

The university will welcome its first lower-division class in fall 2016.

Read more at the San Antonio Business Journal.

Three's a crowd! Silverwest snaps up San Antonio hotels 

(6/8/2015 10:00:00 AM)

SAN ANTONIO - The mentality within the San Antonio hotel market this year will be if you cannot build them, buy them.

Such is the case for Silverwest Hotels LLC, a Kansas City-based joint venture that purchased three San Antonio hotels from Barshop & Oles for an undisclosed price.

The venture narrowed in on the city's highest growth regions for the purchase. The hotels all sit along major thoroughfares such as I-35, Loop 1604 and US 281.

Silverwest purchased Hampton Inn and Suites San Antonio/Schertz, Fairfield Inn and Suites San Antonio NE/Schertz and Hampton Inn San Antonio/Northwoods.

While costs were not immediately available, Silverwest Hotels co-founder and Chief Operating Officer Charles Peck said the company is planning to update all three properties within the next year to "bring them current with today's franchise standards."

Hotel development activity will be ramping up over the next 24 months including:

  • a 21-story, 250-room AC by Marriott hotel proposed for downtown;
  • construction for an Embassy Suites at Brooks City Base set to begin any day now; and
  • a Water Walk Hotel at 5423 N Loop 1604 W that will turn dirt within the next couple of months.


Read more at the San Antonio Business Journal.

Lockheed Martin secures $34M extension with JBSA-Randolph 

(6/8/2015)

SAN ANTONIO - Lockheed Martin Services Inc. has been awarded a $34 million extension on its contract to operate and support the U.S. Air Force’s Life Cycle Management Center at Joint Base San Antonio-Randolph.

The original contract for $234 million was awarded in 2008.

The center monitors the life cycle of various munitions and weapons systems at Joint Base San Antonio-Randolph.

The additional funding is expected to support the continued work at the center through August 31, 2016.

Read more at the San Antonio Business Journal.

REOC: San Antonio 1Q 2015 MOB needs booster shot 

(6/5/2015 9:25:00 AM)

SAN ANTONIO - Following a rather flat fourth quarter close to 2014, the San Antonio medical office market experienced a slow first quarter 2015.

Medical office buildings experienced 20,548 sf of negative net absorption in the first three months of the year, according to the survey of nearly 6.9 million sf of medical-only office lease space.

Absorption is normally the best indication of demand for space, but the sluggish first quarter performance is not an accurate indication of demand because leasing activity continues to spill over into other property types.

Despite the uptick in vacancy, the cost of renting medical office space climbed $0.05 from last quarter to reach a citywide average of $24.01 per sf per year on a full-service basis.

REOC San Antonio: 1Q 2015 Medical Office Building*
All Types Citywide CBD Non-CBD
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 6,645,162 6,869,206 1,059,337 1,059,393 5,585,825 5,809,813
Available 1,218,937 1,336,469 100,693 161,455 1,118,244 1,175,014
Vacant 18.3% 19.5% 9.5% 15.2% 20.0% 20.2%
Average rent $23.83 $24.01 $20.78 $20.23 $24.40 $24.70
1Q absorption 73,794 -20,548 0 -6,640 73,794 -13,908
YTD absorption 73,794 -20,548 0 -6,640 73,794 -13,908


*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

See the full Quarterly Medical Reports 1Q 2015, including previous quarters.

Don't forget! Visit San Antonio-New Braunfels Market Research for more stats.

San Antonio: Harland Clarke HQ heads to WestRidge One 

(6/5/2015)

SAN ANTONIO - Harland Clarke Holdings Corp. has officially opened the company’s new corporate headquarters at WestRidge One.

The company currently has 1,000 employees in San Antonio and New Braunfels.

Harland Clarke Holdings CEO Chuck Dawson said in a news release that the 128,000-sf WestRidge One gives the company the capacity to hire several hundred employees over the next few years.

WestRidge One is part of a 42-acre master-planned office community off La Cantera Parkway that is owned by USAA Real Estate Co. and developed by Patrinely Group LLC in Houston.

Harland Clarke is the only tenant in WestRidge One. WestRidge Two is currently under construction.

Read more at the San Antonio Business Journal.

Little bang for big bucks in Central San Antonio 

(6/4/2015 9:45:00 AM)

SAN ANTONIO - It may take a while to convince people to move downtown, but once their minds are made up, renters are willing to shell out big bucks for space.

Among 13 other submarkets of San Antonio, Property Elite Management and Leasing found that the city's central area averaged $1.05 per sf in first quarter 2015, the highest in the city by a long shot.

Average rents in the region surpassed $1,600 per unit — and those units are for the smallest dwellings in San Antonio. Central living spaces average a bit more than 1,500 sf, far less than the citywide average of 1,800 sf.

Between 1Q 2014 and 1Q 2015, citywide rents rose from $0.69 to $0.74, respectively.

While Central San Antonio led the city's submarkets by a wide margin, some of the runner-ups for most expensive areas include the Northwest and North Central neighborhoods.

Central San Antonio, while it led the city in terms of rental rates, also had units that spent the longest time on the market. At 84 days, the area surpassed the other submarkets by nearly 30 days.

The lowest, at 39 days, was Northeast San Antonio, but that could also be because that submarket had a high inventory of 380 units. To put that in perspective, the central submarket had only 16.

Overall, 2015 is shaping up to be an interesting year in the multifamily market — with activity and rents poised to stay on an upward slope.

Read more at the San Antonio Business Journal.

H-E-B, Walmart cater to new West San Antonio development 

(6/4/2015)

SAN ANTONIO - With all of the recent residential developments popping up in West San Antonio, the region's growing population has few to no options when it comes to groceries, gas or convenience needs.

As the competition between Walmart and H-E-B ramp up in the coming months, a handful of new locations are slated to open in the area.

With 50 active stores in San Antonio, H-E-B has no locations beyond the western quadrant of Loop 1604. However, the local grocery company has three pending locations for the region.

H-E-B is planning a site along Potranco Rd. past Talley Rd., as well as two locations near Culebra Rd. These include the intersection of Hwy. 211 and Culebra Rd. and another on Alamo Pwky.

H-E-B will work well for several KB Home developments along the farm-to-market road, including Falcon Landing, which has its grand opening set for June 13, The Oaks at Cobblestone and Crosscreek.

Walmart, which is planning an aggressive push for its Neighborhood Center concept, will be opening a location along FM 1560 at the midway point between Bandera Rd. and Culebra Rd.
 
Three Walmart Supercenters are open along the western rim of Loop 1604 — as well as a SuperTarget at the Culebra intersection across the way from an existing H-E-B.
 
The question for incoming residents will be which location to choose from, but as far as the neighborhood is concerned, at least they now have a few more options.

Read more at the San Antonio Business Journal.

See the latest retail at San Antonio Research.

JLL: San Antonio office insights 1Q 2015 

(6/2/2015)

SAN ANTONIO - Jones Lang LaSalle (JLL) released its first quarter 2015 Office Insight for the San Antonio market.

Over 500,000 sf of construction was delivered in San Antonio’s north and northwest markets in first quarter 2015.

The new inventory was 100 percent leased and three of the four delivered buildings are occupied by a single tenant. These major tenants include CyrusOne, Harland Clarke and the United States Government.

There are currently six buildings under construction, representing over 600,000 sf of new office inventory.

Almost 1 million sf of office space traded hands this quarter across the north and northwest markets.

The largest trade was RidgeWood Park Office Campus in northern San Antonio with 618,000 sf selling for over $150 million.

JLL Office Insight 1Q 2015
  Inventory
(SF)
Net
Absorption
(SF)
Total
Vacancy
Avg. Rent
Downtown 5,174,932 20,378 16.5% $20.76
Far North Central 1,048,663 17,020 19.6% $26.32
North Central 7,376,751 15,930 14.4% $23.11
Northeast 3,079,434 -885 15.5% $22.12
Northwest 8,499,081 90,826 22.7% $22.79
South 439,622 41,831 7.2% $23.27
Suburban San Antonio 20,443,551 164,722 18.1% $22.99
San Antonio total 25,618,483 185,100 17.8% $22.55


Here's the full 1Q 2015 JLL's San Antonio Office Insight and Stats.

For more 1Q 2015 reports see San Antonio-New Braunfels Market Research. Also see San Antonio NewsTalk.

No myth here! Olympus buys 312-Unit Tacara in San Antonio 

(6/1/2015 10:00:00 AM)

SAN ANTONIO - The 312-unit Tacara at Westover Hills has been acquired by Olympus Property.

Built in 2014, Tacara at Westover Hills is situated on almost 14 acres and offers residents top of the market construction, upscale interior finishes, and an ideal location in the Westover Hills submarket.

The Class A Tacara at Westover Hills is situated in a highly visible location off SH 151 near Loop 410.

The units include 192 one-bedroom, one-bath units; 108 two-bedroom, two-bath units; and 12 three-bedroom, two-bath units.

Read more about this story at MultifamilyBiz.com.

San Antonio Walmart hiring 300; a job to qualified veterans 

(6/1/2015)

SAN ANTONIO - Walmart is planning to hire 300 new employees to staff the new Walmart Supercenter being built at 918 Bandera Rd.

The company is hiring both full- and part-time employees.

In addition, because of Walmart’s Veterans Welcome Home Commitment, the company is willing to offer a job to any qualified veteran who has been honorably discharged within the past 12 months.

The new store is slated to open on August 26.

The company set up a temporary hiring center at 1803 Vance Jackson Rd. for interested applicants. Walmart is also accepting applications online at this link.

Read more at the San Antonio Business Journal.

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