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San Antonio-New Braunfels

CoStar 1Q: San Antonio industrial vacancy decreases to 5.6% 


SAN ANTONIO - The San Antonio Industrial market ended first quarter 2014 with a vacancy rate of 5.6 percent — down over the previous quarter. Net absorption totaled positive 1,444,267 sf in 1Q 2014, compared to positive 1,565,999 sf in 4Q 2013.

Vacant sublease space decreased in the quarter, ending the quarter at 128,088 sf. Rental rates ended 1Q 2014 at $5.75, an increase over the previous quarter.

A total of 14 buildings delivered to the market in the quarter totaling 1,194,091 sf, with 571,506 sf still under construction at the end of the quarter.

Read more at CoStar Group.

San Antonio home prices March up 10 percent 

(4/15/2014 6:45:00 AM)

SAN ANTONIO - As of March 2014, the average price of a home in San Antonio stood at $211,247 — a 10 percent increase over the average price of $192,589 reported March 2013, according to the San Antonio Board of Realtors.

The median price of a home in greater San Antonio now stands at $172,400 — an 8 percent increase from the median price of $158,900 posted a year ago.

The under-$200,000 market continues to be the strongest price range for the Alamo City. Over the 31 days ended March 31, 2014, 61 percent of the homes sold in greater San Antonio were priced below $200,000.

The mid-price market, however is gaining ground. Homes priced between $200,000 and $500,000 accounted for 35 percent of the sales recorded in March. A year ago, homes in this price range accounted for 29.2 percent of sales in the local housing market.

Read more at the San Antonio Business Journal.

See Housing under San Antonio Market Data Sources for more stats.

LA Fitness jumps into Vineyard Shopping Center SA North Side 


SAN ANTONIO - LA Fitness has signed a lease for a 45,000-sf facility at the Vineyard Shopping Center located at Loop 1604 and Blanco Rd. on the city’s far North Side. Construction on the store is slated to begin immediately.

LA Fitness also has another gym already under construction on six acres in the Bulverde Marketplace center, located at the southwest corner of Loop 1604 and Bulverde Rd.

Read more at the San Antonio Business Journal.

Ramen oodles of noodles swell $300M in Bexar County 


VON ORMY, BEXAR COUNTY - Maruchan Texas, make of ramen noodles, has opened its $300 million, 510,000-sf factory on Fischer Rd. in Southwest Bexar County. Maruchan is dedicated to turning out tons of the high protein noodles.

"People love ramen in Texas,” said Maruchan Sales Coordination Manager Mark Horikawa. “We're happy to be here." Maruchan's biggest consumer in the United States is Texas.

Mexico is also a huge consumer of the product, making its location in San Antonio ideal.

The plant is employing about 200 people today and expects to employ some 600 in the coming 18 months.

The South Side plant will be the fourth U.S.-based factory for Maruchan. Eventually, the plant plans to crank out an estimated 1.8 million packages of food a day.

This is Maruchan’s first plant opening in 20 years.

Maruchan Texas is a unit of Maruchan Incorporated. Ramen noodles originated in China, but Maruchan is based in Japan. The company says the largest market for ramen noodles today is South Korea.

Read more at WOAI.

Listen to Podcast 212 for this story and see this link for Ramen recipes.

North Central Baptist oncology floor part of $60M expansion  


SAN ANTONIO - North Central Baptist Hospital has completed work on a $60 million, six-floor expansion project at the Stone Oak area facility. Part of the expansion includes a new oncology floor that will house 28 private rooms and provide specialized medical and surgical care for cancer patients.

The new oncology floor will also be home to a unique medical unit specifically designed for young adult cancer patients between the ages of 17 and 25.

North Central Baptist also opened new Labor and Delivery floors as part of the expansion project.

Read more at the San Antonio Business Journal.

Walmart on Walzem opens 155,000-SF San Antonio store 


SAN ANTONIO - Walmart will open a new 155,000-sf store on Walzem Rd. on April 23. Hiring for the new store is already 85 percent complete. The store will eventually employ 250–300 associates.

The facility will be the first store in San Antonio to offer the 'site to store' component in the front of the store.

The Walmart store comes complete with the usual array of Walmart amenities, including an in-store eatery, Subway Sandwich Shop and a hair salon. The store will also feature a drive-through pharmacy and an online shopping service. 

Read more at San Antonio Express-News.

East Quincy Townhomes next to the Pearl in San Antonio 


SAN ANTONIO - East Quincy Townhomes are underway along Quincy St. and Newell Ave. — directly across from the Pearl Brewery development, along the prime Museum Reach portion of the San Antonio River. The project calls for building 25 three-story townhomes.

The complex will feature one-, two- and three-bedroom homes ranging from 913 sf to 2,081 sf. East Quincy is for those who want to buy, rather than rent. The price on the townhomes will range from $260,000 to $460,000.

Homeowners are expected to start moving in later this year.

Source: East Quincy

Read more at the San Antonio Business Journal.

Fair grounds for Alamo Ridge industrial SA Northwest Side 


SAN ANTONIO - Construction has begun on a development that will span roughly 20 acres along Fairgrounds Pkwy. known as the Alamo Ridge Business Center. The first two buildings in the park are currently under construction — one with 96,324 sf and another with 61,744 sf.

The long-term plans for Alamo Ridge call for five buildings — for a grand total of a little over 400,000 sf of space. The developers, EastGroup Properties, expect to open the first two buildings later this summer and plan to finish the entire project over the next 12 to 24 months.

The development will be located within the Alamo Downs Business Park just north of the Loop 410 and Culebra Rd. intersection in Northwest San Antonio.

Read more at the San Antonio Business Journal.

Westover Hills' 7.6 acres sold in NW San Antonio 


SAN ANTONIO - Rockspring Capital, a Houston-based real estate investment firm, announced the acquisition of a 7.6-acre site in Northwest San Antonio. The property is located in the Westover Hills Development located on Rogers Rd. near Mt. Evans.

The potential uses for this site include office, data center, medical and multifamily. The site neighbors Chevron and Microsoft’s Data Center and is near Hwy. 151 and Hwy. 1604.

Source: Rockspring Capital

San Antonio largest downtown offices and occupancy 

(4/2/2014 6:44:00 AM)

SAN ANTONIO - The San Antonio Business Journal released its list of the top 25 largest office properties in downtown San Antonio. Offices are ranked by the total rentable sf. The top five are listed below.

Top Five Largest Office Properties in Downtown in San Antonio
Company Address Total
Bank of America Plaza 300 Convent St. 532,922 89%
Weston Centre 112 E. Pecan St. 490,871 94.3%
500/530 McCullough 500/530 McCullough 433,431 NA
IBC Centre I & II 130 E. Travis/175 E. Houston 371,148 87%, 78%
Frost Bank Tower 100 W. Houston St. 338,942 100%

See the full list at the San Antonio Business Journal.

Exodus from movies to church campus in NW San Antonio 


SAN ANTONIO - Gateway Fellowship Church is preparing to build a permanent campus on an 11.4-acre property between Bandera Rd. and Braun Rd. on the city's far Northwest Side. Plans call for a 28,000-sf facility with construction estimated at $7 million.

The church currently conducts services in the Santikos Silverado 16 movie theater. The church outgrew an elementary school and a couple of commercial sites before moving to the theater. It zeroed in on the 11-acre property just 1,000 feet away.

Retail giant Hobby Lobby bought the land two years ago and gave it to the congregation.

The new facility is expected to provide seating for nearly 800 people. The project will begin in May 2014 and open in February 2015.

Read more at the San Antonio Express-News.

Saint welcomes hospitality degree to San Antonio 


SAN ANTONIO - A new partnership between the University of Houston’s Conrad N. Hilton College of Hotel and Restaurant Management and St. Philip’s College is bringing hospitality education to San Antonio. Students will have the opportunity to pursue a Bachelor of Science in Hospitality Management from the University of Houston.

Classes at the Conrad N. Hilton College – San Antonio are set to begin in fall 2014. Initially, all classes will be held on the St. Philip’s campus at 1801 Martin Luther King Dr. while the new campus is being built.

St. Philip’s currently offers a two-year associate’s degree in hospitality management, which fulfills the prerequisites for successful transfer to the Conrad N. Hilton College – San Antonio.

Students who transfer in from other four-year colleges can also pick up the hospitality and general education prerequisites they might need at St. Philip’s, then continue with their upper-division courses in the Hilton College program.

Source: University of Houston Conrad N. Hilton College

Under wraps: 300 Texas employees to downtown San Antonio 

(3/27/2014 7:00:00 AM)

SAN ANTONIO - The Texas Attorney General’s Office is planning to relocate 300 people to downtown who will occupy about 50,000 sf of space. The downtown move is part of a larger effort by the Attorney General’s office to consolidate office space in the major urban centers across Texas.

Those people are being relocated from other leased office spaces in the San Antonio area. Because of the confidential nature of the work that is being done, the agency is not specifying the location of the new San Antonio office space.

However, the agency will maintain public office presence at different locations outside of downtown.

Read more at the San Antonio Business Journal.

Sendero Ranch land purchased in San Antonio 


SAN ANTONIO - Encore Enterprises acquired ten acres located at the northeast corner of Sendero Verde and US 281 in The Sendero Verde Ranch. The Dallas-based firm plans to develop a multifamily complex on the parcel.

Sendero Ranch Development sold the vacant land for approximately $1.785 million. The parcel was part of a 20.7-acre lot.

Read more at CoStar Group.

San Antonio apartments: big bang for your buck 

(3/25/2014 10:00:00 AM)

SAN ANTONIO - The Alamo City apartment market is seen as a market where a consumer can get a good deal, according to CoStar Group's “What $1,000 a Month Will Rent You in Top U.S. Cities” study. Using data from the website, CoStar reports that San Antonio renters will spend, on average, $758 a month for a one-bedroom unit.

San Antonio was one of ten markets in the “small rents in big cities” category. At the top of list, was Atlanta, where rents average $966. At the bottom of the list were Phoenix and Las Vegas, where rents average $715 and $693 a month, respectively.

San Antonio also made the list in CoStar’s “Enormous deals: More space for the money” category. A two-bedroom unit in the Alamo City costs $993 on average. For that same amount of money, you can get a three-bedroom unit in Vegas.

Read more at the San Antonio Business Journal.

Westover Marketplace purchased on West Side 


SAN ANTONIO - Westover Marketplace has been purchased by Inland Investments on the city’s far West Side. The regional power center spans a total of 242,644 sf at Loop 410 and SH 151 in the Westover Hills area.

At the time of the sale, Westover Marketplace was sitting at an occupancy rate of better than 93 percent.

The center boasts a tenant line-up that includes national names such as PetSmart, Target, Gander Mountain and a Toys “R” Us/Babies “R” Us combo store.

Read more at the San Antonio Business Journal.

San Antonio construction posts modest employment gains 


SAN ANTONIO - General contractors in the San Antonio-New Braunfels metro saw a slight increase to their payrolls in the 12 months ended January 31, 2014, according to Associated General Contractors of America. The area added a total of 600 jobs.

Local contractors reported a total of 41,100 employees at the end of January 2013. A year later, the employment count was 41,700 — an increase of 1 percent.

Numbers posted by other Texas metros between January 2013 and January 2014 include:

  • Austin-Round Rock-San Marcos: added 2,700 jobs, an increase of 6 percent;
  • Dallas-Plano-Irving: added 7,200 jobs, an increase of 7 percent;
  • Fort Worth-Arlington: added 1,100 jobs, an increase of 2 percent; and
  • Houston-Sugar Land-Baytown: added 7,900 jobs, an increase of 4 percent.

Read more at the San Antonio Business Journal.

San Antonio Surlean Foods expansion adds culinary R&D 

(3/21/2014 6:59:00 AM)

SAN ANTONIO - Surlean Foods purchased a 114,000-sf building at 2001 Laredo St. to expand its local headquarters on the near West Side. The company, which manufactures customized food for restaurant chains, purchased the facility to include a culinary center for product research and development.

Surlean spent $1.6 million on expansions last year and plans to invest another $2.6 million by 2015. Surlean also recently opened a 90,000-sf production facility in Dallas. The growth has created about 75 new jobs.

Read more at the San Antonio Express-News.

San Antonio home sales climb in February 


SAN ANTONIO - In February, the San Antonio area recorded modest gains in home sales and prices with 1,454 homes sold, according to data from the San Antonio Board of Realtors. This number represents a 3 percent bump compared to the same month last year when there were 1,411 sales.

The median price for an existing home in the San Antonio area grew 4.9 percent to $168,000. In February 2013, the median price for a home was $160,200.

On average, it took 77 days for a single-family house to sell, two days longer than January's average. As of last month, there was roughly 4.2 months of housing inventory.

Read more at the San Antonio Express-News. Make your life easier! Find lots of Housing stats at San Antonio Market Data Sources.

Life of Riley at new Oakmont of San Antonio Heights 


SAN ANTONIO - Oakmont of San Antonio Heights, a 75,000-sf luxury retirement community, is underway at the corner of Euclid Ave. and 24th St. Located on a 3.28-acre site, the community will have 56 assisted-living and 24 memory care apartments.

The community offers studio, one- and two-bedroom floor options which range from 400 to 1,193 sf. The project is just minutes from the San Antonio Community Hospital and the Colonies Crossroads Shopping Center.

The two-story complex will help fill the need for more regional senior housing and provide the more than 480,000 inland residents 65 years or older with additional senior living and care services options.

Construction on Oakmont of San Antonio Heights began in November 2013 and is expected to be completed summer 2014.

Source: Oakmont of San Antonio Heights

Read more at Inland Valley Daily Bulletin.

San Antonio Terrace at River Oaks sold for $22.5M 

(3/20/2014 4:00:00 PM)

SAN ANTONIO - The Terrace at River Oaks, a 314-unit apartment community, has been purchased for approximately $22.5 million. The complex, located at 11146 Vance Jackson Rd., offers one-, two- and three-bedroom units.

Florida-based Trade Street Residential Inc. (TSRE) sold the 31-year old complex.

Also see TSRE's recent buy — $42M takes The Avenues at Craig Ranch in McKinney.

Source: GlobeNewswire

New Braunfels $1.25M grant for training expansion 


NEW BRAUNFELS - The Department’s Economic Development Administration is awarding a $1.25 million grant to New Braunfels that will be used to expand the Central Texas Training Center. The grant will support the construction of a new 30,000-sf building that will house general instructional space, biology and chemistry labs, student support areas and faculty offices.

The Central Texas Training Center provides critical science and technical workforce support for the communities of New Braunfels and Seguin and the counties of Comal and Guadalupe.

Read more at the San Antonio Business Journal.

KB Home: West Village at Creekside coming to New Braunfels 


NEW BRAUNFELS - KB Home has acquired land along FM 1101, just east of I-35, to develop a new home community called West Village at Creekside. The company plans to construct 469 built-to-order homes.

Land development will commence summer 2014, with a grand opening scheduled for January 2015.

Planned amenities at West Village at Creekside include a private swimming pool, picnic pavilion, walking trails and a children’s playscape. Retail shopping, Comal Independent School District schools, the popular Buc-ee’s convenience store and The Village at Creekside are also nearby.

KB Home currently has two New Braunfels communities open for new home sales, and 23 other communities in the San Antonio area.


REOC: San Antonio 4Q 2013 office 


SAN ANTONIO - The local office market ended the year on a positive note but it struggled to maintain momentum in the second half. San Antonio-area office properties accumulated roughly 300,000 sf of positive net absorption in the first six months of 2013 but the pace then slowed considerably.

Job growth, which was rather anemic in 2013, focused primarily on industries less connected to the office market while industries. Despite the variability in the pace of recovery, the local office market continues to show improvement and the outlook for the San Antonio area remains positive.

San Antonio 4Q 2013 Office Report
All Classes Citywide CBD Non-CBD
4Q 2013 4Q 2012 4Q 2013 4Q 2012 4Q 2013 4Q 2012
Inventory 28,288,300 28,487,004 5,673,787 5,623,892 22,614,513 22,863,112
Available 5,504,785 5,823,337 1,683,367 1,874,595 3,821,418 3,948,742
Vacant 19.5% 20.4% 29.7% 33.3% 16.9% 17.3%
Average rent $19.72 $20.99 $19.95 $18.97 $19.69 $21.49
4Q Absorption 34,509 94,890 -1,370 43,772 35,879 51,118
YTD Absorption 325,994 163,087 88,196 -333,297 237,798 496,384

For the full report see REOC San Antonio. For more, see San Antonio commercial office stats under the Center's Market Data Sources.

Cherry Ridge Office Park picked by new owners 

(3/18/2014 7:30:00 AM)

SAN ANTONIO - The Cherry Ridge Office Park on the city’s Northwest Side has been sold. The Class B, four-building complex spans a total of 113,548 sf at 3201 Cherry Ridge.

Built in 1981, Cherry Ridge had an occupancy rate of 89.7 percent at the time of the sale. Boller Properties purchased the office park.

Read more at the San Antonio Business Journal.

It's Twin apartments for Alamo Ranch 


SAN ANTONIO - SWBC Real Estate LLC has purchased nearly 29 acres of land on the city’s far West Side for the development of two Class A apartment complexes within the Alamo Ranch master-planned community.

The first phase of the project, Twin Creeks at Alamo Ranch, will consist of 300 units on 17 acres. Construction on phase one is slated to begin summer 2014 with the first units available for leasing by the first part of 2015.

Development on the second phase will depend on the supply and demand of new multifamily units in the area. At build-out, the project is projected to boast 525 units.

Twin Creeks will be comprised of one-bedroom, two-bedroom, and three-bedroom units.

Twin Creeks will be located just one block south of Alamo Ranch Marketplace — a mega retail center spanning 900,000 sf at Loop 1604 and Culebra Rd.

Read more at the San Antonio Business Journal and SWBC Real Estate.

New barracks facility at Fort Sam Houston 


SAN ANTONIO - Joint Base San Antonio-Fort Sam Houston is now home to a new 116,480-sf modular building on the Army post that will house combat troops. The $9.7 million four-story building has 272 rooms.

The fifth and final phase of the MILCON Unaccompanied Enlisted Personnel Housing (UEPH) Advanced Individual Training (AIT) Barracks is now completed and ready for occupancy. The Army expects to occupy the building by the end of March.

Because the barracks facility houses combat troops, the structure had to be built to meet the Army’s anti-terrorism force protection construction standards.

Read more at the San Antonio Business Journal.

Walmart new MacArthur View-Nacogdoches store in San Antonio 


SAN ANTONIO - Walmart Stores Inc. announced plans to open a new Neighborhood Market on the Northeast Side. The store will occupy about 41,000 sf at the intersection of MacArthur View and Nacogdoches Rd.

Walmart will hire about 95 employees to staff the store, which is about one-fourth of the average size of the company's Supercenter stores.

The MacArthur View-Nacogdoches store will be Walmart's fifth such location in the San Antonio area. The store is expected to open in early 2015.

Read more at the San Antonio Express-News.

NAR San Antonio housing market 4Q 2013 

(3/9/2014 6:38:00 AM)

SAN ANTONIO - Fourth quarter 2013 housing data have been released for the San Antonio market by the National Association of Realtors.

Local Price Trends
  San Antonio U.S. Local Trend
Price Activity      
Current median home price (4Q 2013) $171,700 $197,000 Prices are up from a year ago, but price
growth is slowing
1-year (four-quarter) appreciation (4Q 2013) 6.9% 10.2%
3-year (12-quarter) appreciation (4Q 2013) 11.6% 16.0%
3-year (12-quarter) housing equity gain* $17,800 $27,133 Gains in the last 3 years have extended
the trend of positive price growth after
the recession
7-year (28 quarters) housing equity gain* $31,100 -$22,400
9-year (36 quarters) housing equity gain* $49,200 -$1,900
*Note: Equity gain reflects price appreciation only

Source: National Association of Realtors

See the full report at Prudential Ada Realtors, Regional Market Updates. Also see more housing under San Antonio Market Data Sources.

Microsoft data base bytes 250,000 SF in Alamo City 

(3/7/2014 7:03:00 AM)

SAN ANTONIO - Microsoft Corp. has begun construction on its second data center in the Westover Hills master-planned community. The company will construct a facility in excess of 250,000 sf and invest $250 million into the project.

The firm also committed to the creation of 20 high-paying jobs.

Microsoft already has a significant presence in Westover Hills. In 2008, the company opened a 470,000-sf, $550 million data facility.

Read more at the San Antonio Business Journal.

Metalfrio signs 40,000-SF lease in Schertz 


SCHERTZ - Metalfrio Solutions, a plug-in commercial refrigeration company, has signed a lease for 40,000 sf at 5925 Tri County Pkwy. in the Tri County Distribution Center. The building is now fully leased.

The 244,800-sf industrial building was constructed in 1996 on 13.34 acres. The building has four drive-in bays and 28 loading docks.

Read more at CoStar Group.

San Antonio West Side debuts Neighborhood Market 


SAN ANTONIO - Walmart opened its first local Neighborhood Market at 1515 S. Ellison Dr., at the intersection of Marbach and Ellison on the city’s far West Side. On average, these stores measure 38,000 sf and employs about 95 associates.

The store will feature fresh produce and dairy and bakery products, as well as household supplies and health and beauty aids. The Neighborhood Market is one of four stores that will open for business this year.

By comparison, the big-box Supercenter that is a staple of the retailer averages 182,000 sf and employ about 300 associates.

Read more at the San Antonio Business Journal.

San Antonio international traffic flies high in 2013 


SAN ANTONIO - San Antonio International Airport has released passenger traffic statistics for year-to-date through December 2013.

San Antonio International Airport Passenger Statistics
  Dec. 2013
Dec. 2012
Domestic enplaned 3,876,321 3,894,625 -0.47%
Domestic deplaned 3,904,562 3,926,878 -0.57%
International enplaned 242,718 208,739 16.28%
International deplaned 228,729 212,979 7.40%
Passenger total 8,252,330 8,243,221 0.11%

Source: City of San Antonio

Singing Hills alive with retail, housing in Bulverde 


BULVERDE, COMAL COUNTY - A plan to bring much needed retail and housing options to a city just north of San Antonio is officially underway. The plan, a project known as Singing Hills, will span a total of 250 acres of land at the northwest corner of US 281 and SH 46.

At build out, Singing Hills will boast more than 260,000 sf of retail space. The retail portion of the project already has a major retailer in tow — Walmart, which plans to build a new Supercenter.

The plans for the single-family portion of Singing Hills call for a total of 350 homes that will range in price from $350,000 to $400,000. A multifamily development is also in the works for the project.

SH-DJL Development is receiving a total of $11.1 million in tax incentives from Comal County and Bulverde to help it recoup infrastructure improvements it is making to the 250-acre tract — including the construction of a 240,000-gallon-per-day wastewater and reuse treatment facility.

Read more at the San Antonio Express News.

Towne Oaks purchased in Northeast San Antonio 


SAN ANTONIO - Towne Oaks, a 123-unit community located at 8623 Starcrest Dr., was purchased by Presidium Group LLC in Northeast San Antonio. Presidium plans to invest about $1 million to upgrade the property’s interiors, exteriors, common areas and its amenities.

Going forward, the community will be known as “Settlement." The complex includes one- and two-bedroom residences, plus amenities such as a swimming pool and clubhouse.

The Settlement deal marks Presidium’s first San Antonio acquisition for 2014.

Read more at the San Antonio Business Journal.

Carrier Air to 542,000 SF in San Antonio's South Side 


SAN ANTONIO - Bandera Ventures has purchased 135 acres of land out of the Southport Industrial Park with plans to develop a distribution center for Carrier Air Conditioning. The first phase calls for building 542,000 sf of distribution space — out of what could ultimately be a 2 million-sf complex.

Southport spans roughly 300 acres at Applewhite Rd. and Watson Rd. Taking out the 135 acres Bandera Ventures owns, there remains 172 acres next to Carrier’s project that are ripe for other industrial players.

Read more at the San Antonio Business Journal.

320-Unit complex underway in Leon Springs 


LEON SPRINGS, BEXAR COUNTY - A new 320-unit multifamily project is underway on a 15-acre tract in the City of Leon Springs, just northwest of San Antonio. The first units are expected to be complete in February 2015.

Amenities for the community will include a two-story clubhouse of 6,397 sf and a pool. Embrey Partners’ new complex is part of a larger mixed-use community that will front I-10, between Leon Creek and the historic Leon Springs community.

Read more at the San Antonio Business Journal.

REOC: San Antonio 4Q 2013 medical office review 


SAN ANTONIO - The local medical office market experienced 39,409 sf of positive net absorption in fourth quarter which raised the year-end total to 245,206 sf, according to the fourth quarter 2014 report by REOC San Antonio.

The citywide vacancy rate remained stable over the quarter at 16.8 percent and stands improved compared to 18.0 percent recorded in the same quarter the previous year.

At the close of 4Q 2013, quoted full-service rental rates for all medical-only office property averaged $23.86 per sf on an annual basis, showing a gain of $0.06 over the previous quarter and $0.30 compared to the same quarter a year ago.

San Antonio 4Q 2013 Medical Office Report
All Types Citywide CBD Non-CBD
4Q 2013 4Q 2012 4Q 2013 4Q 2012 4Q 2013 4Q 2012
Inventory 6,426,265 6,118,868 1 ,012,037 1,011,408 5 ,414,228 5,107,460
Available 1,078,435 1,100,514 82,060 122,341 996,375 978,173
Vacant 16.8% 18.0% 8.1% 12.1% 18.4% 19.2%
Average rent $23.86 $23.56 $20.78 $20.08 $24.44 $24.25
4Q absorption 39,409 41,939 4,690 10,456 34,719 31,483
YTD absorption 245,206 178,267 40,281 41,332 204,925 136,935

For the full report see REOC San Antonio.

San Antonio apartment sales 2013: Hendricks-Berkadia 

(3/3/2014 6:45:00 AM)

SAN ANTONIO - Multifamily sales activity remained robust in 2013, though the number of deals and sales volume contracted slightly. There were a total of 61 transactions last year, a decline of 6.5 percent as sales volume dipped 0.6 percent to $931.9 million, according to Hendricks-Berkadia.

Prices advanced 16.8 percent to $66,748 per unit in 2013. Values at Class A assets increased 24.2 percent to $122,116 per unit, while the average price at Class B/C properties was $45,746, a gain of 6.1 percent.

San Antonio Apartment Sales
  2013 2012 Change
100+ unit sales Average price (per unit) $71,603 $60,995 17%
Average price (per sf) $77.14 $70.42 10%
Transaction count 48 54 -11%
Total volume $910,374,620 $897,407,247 -1%
Less than
100 unit sales
Average price (per unit) $43,858 $32,707 34%
Average price (per sf) $36.52 $39.87 -8%
Transaction count 13 11 18%
Total volume $34,446,448 $26,874,570 28%

Read more at Hendricks-Berkadia. Log-in is free.

Boeing cuts up to 600 jobs at Port San Antonio 


SAN ANTONIO - Boeing Co. announced it will lay off 550 to 600 employees at its Port San Antonio facility because of a decline in commercial airline work. The layoff, effective May 2, includes mostly full-time employees and a handful of contractors.

Prior to the layoff, Boeing employed 1,600 people in San Antonio where it works on planes — including the company’s 787 Dreamliner and a variety of military aircraft.

Read more at the San Antonio Business Journal.

Fewer San Antonio homeowners 'underwater' on mortgages 


SAN ANTONIO - The negative equity rate in San Antonio’s housing market is projected to fall further by the end of the year, a sign that the local economy will continue to improve, according to the Zillow Negative Equity Report.

In fourth quarter 2013, the negative equity rate in San Antonio was 13.7 percent.

By 4Q 2014, the rate is expected to drop to 12.8 percent. The negative equity rate pertains to the percentage of households where homeowners owe more on their mortgage than what the property is worth, commonly referred to as being underwater.

Across the U.S., the national negative equity rate had fallen to 19.4 percent at the end of 4Q 2013. The forecasted negative equity rate is expected to drop to 17.2 percent of U.S. households by 4Q 2014.

Read more at the San Antonio Business Journal.

On the money: San Antonio leads in all-cash home sales 

(2/28/2014 10:00:00 AM)

SAN ANTONIO - The city's seeing a healthy share of buyers with cash in hand — literally. In San Antonio, 42.3 percent of all home sales in January were all-cash transactions, according to the January 2014 Residential & Foreclosure Sales Report by RealtyTrac.

By comparison, all-cash buyers accounted for 40.7 percent of homes sales in the Dallas-Fort Worth-Arlington metro area, and for 41.9 percent of the buyers in the Houston-Sugar Land-Baytown metro area. Austin-Round Rock had the smallest share of all-cash buyers which accounted for 27.6 percent of home sales.

San Antonio did however, have the lowest share of institutional investors — defined as those entities purchasing at least ten properties in a calendar year. They accounted for 3.6 percent of all home buyers in San Antonio in January 2014.

Meanwhile, institutional investors accounted for 8.4 percent and 5.3 percent of all home purchases in Dallas and Houston, respectively. Austin had the highest share of institutional investors which accounted for 18 percent of all home sales in January.

Read more at the San Antonio Business Journal.

$176M Bank shot hits The Rim in San Antonio 

(2/27/2014 6:45:00 AM)

SAN ANTONIO - Hines Global REIT has acquired 796,445 sf of The Rim for $176.4 million in Northwest San Antonio. The property is currently 99.5 percent leased to national tenants including Best Buy, JCPenney, Nordstrom Rack, Saks Off 5th and TJ Maxx.

The purchase was for phases one through four at the corner of I-10 and Hwy. 1604. Hines Global REIT acquired rights to 259,656 sf currently under construction and anticipated to be completed by the end of 2014, as well as the right to purchase an additional 97,000 sf in phase five.

Developer Thomas Land & Development is currently developing phase five which is slated to be complete by the end of 2015.

The Rim is an outdoor retail center totaling 1,812,492 sf.

Read more at the Securities and Exchange Commission.

2013 San Antonio's office market modest improvements: REOC 


SAN ANTONIO - The local office market managed to post improved leasing figures in 2013, despite the weak job growth in 2013, according to REOC San Antonio. Over the 12 months ended December 31, 2013, the office market experienced positive absorption of 325,994 sf of space — up from the 163,087 sf absorbed during the same 12 months in 2012.

But of the 325,994 sf of office space absorbed in 2013, roughly 300,000 of that was absorbed during the first half of 2013. After that, the pace slowed considerably, says Kim Gatley of REOC San Antonio, who points to lagging job growth as the leading culprit in this slowdown.

Job growth, which was rather anemic in 2013, focused primarily on industries less connected to the office market.

Read more at the San Antonio Business Journal.

San Antonio Villages at Lost Creek find new owner 

(2/26/2014 6:40:00 AM)

SAN ANTONIO - The Villages at Lost Creek at 15302 Judson Rd. has been sold to SGI Partners. The 226,800-sf apartment community has 260 units. Built in 2005, the complex is situated on 10.66 acres across from the Judson Crossing shopping center.

The community consists of one-, two- and three-bedroom units within 16 buildings, including a fully leased 6,000-sf day care center. It was 95 percent occupied at the time of purchase.

Read more at CoStar Group.

More skin on New Braunfels $110M hospital 


NEW BRAUNFELS - From being just a skeleton to getting its skin in place — the construction terms for Resolute Health’s hospital are oddly appropriate. Resolute Health Hospital, a new 364,615-sf medical facility, is currently under construction near New Braunfels Town Center at Creekside.

The $110 million, five-story structure sits on a 58-acre greenfield site.

The hospital is designed for a two-floor vertical expansion and includes 22 emergency department exam rooms, three trauma rooms, four operating rooms, 16 intensive care unit rooms and eight NICU rooms.

The owner acquired the site for more than just a hospital. A medical office building and fitness center are also going up, along with some commercial space for stores.

An estimated 500 jobs are being created on the Resolute Health and Wellness Campus. Construction broke ground in June 2012 with plans to open at the end of April 2014.

Read more at ENR Texas & Louisiana and New Braunfels Herald-Zeitung.

REOC San Antonio healthy industrial market 4Q 2013 

(2/24/2014 1:00:00 PM)

SAN ANTONIO - The San Antonio industrial market closed out 2013 with a citywide vacancy rate of 6.8 percent — the lowest on record and down compared to 7.3 percent last quarter and 9.9 percent recorded in the same quarter last year.

The healthy fourth quarter gain pushed the year-end total absorption figure to nearly 2.5 million sf — another record set and besting the 1.5 million sf recorded in 2007, according to Kim Gatley of REOC San Antonio.

The citywide average cost of renting industrial space rose $0.04 over 4Q 2013 to reach $7.58 per sf on a triple net basis — up an impressive $0.52 or 7.4 percent compared to 4Q 2012.

San Antonio 4Q 2013 Industrial Report
Submarket* Total
Vacant SF
Vacant Avg. Quoted
Rent Rate
CBD 233,395 28,548 12.2% $3.60
NC 5,389,176 642,536 11.9% $8.67
Far NC 26,586 6,549 24.6% $11.00
NW 4,128,118 512,180 12.4% $8.75
NE 18,023,774 1,001,706 5.6% $5.56
South 5,626,830 102,886 1.8% $7.00
Far West 120,200 0 0.0% $6.10
Totals 33,548,079 2,294,405 6.8% $7.58

*Submarket maps are available in the report.

Source: REOC San Antonio

For more industrial stats, check out San Antonio Market Data Sources.

Physicians Realty trusts $25M for hospital, MOB 


SAN ANTONIO - The Foundation Bariatric Real Estate of San Antonio's 46,000-sf surgical hospital was acquired by Physicians Realty Trust. The transaction is valued at just under $19 million.

Physicians Realty has also reached an agreement to pay $6.8 million to acquire a nearly 23,000-sf medical office building located on Huebner Rd.

The office building, adjacent to the Foundation Surgical Hospital of San Antonio, was acquired from Foundation Bariatric Real Estate of Huebner L.P. The medical office building was developed in 2007 and is currently 100 percent occupied.

The surgeons who own and practice at the hospital include specialists in neurosurgery, orthopedics, bariatrics, urology and general surgery.

Read more at the San Antonio Business Journal.

300-Unit The District at Medical Drive underway 


SAN ANTONIO - The District at Medical Drive, a 300-unit apartment community, is currently underway in Northwest San Antonio. Construction on the project began in third quarter 2013 at an estimated cost of $30 million.

Features of the complex will include an amenity center, parking garage and park area. The project is set for completion in fall 2014.

Source: Big Red Dog

150 USAA employees to downtown San Antonio 


SAN ANTONIO - Financial services firm USAA will move 150 employees into three floors of office space at One Riverwalk Place — in the heart of downtown. One Riverwalk Place is located at 700 N. St. Mary's St.

USAA plans to move the personnel into the center city office tower by late September. The company purchased the 18-story office building in August 2013.

Read more at the San Antonio Business Journal.

CoStar: San Antonio retail inventory 4Q 2013 


SAN ANTONIO - During fourth quarter 2013, 12 buildings totaling 448,988 sf were completed in the San Antonio retail market. Over the past four quarters, a total of 1,365,050 sf of retail space has been built in San Antonio.

In addition to the current quarter, 16 buildings with 329,714 sf were completed in 3Q 2013; 22 buildings totaling 264,394 sf completed in 2Q 2013; and 321,954 sf in 12 buildings completed in 1Q 2013.

There was 1,384,733 sf of retail space under construction at the end of 4Q 2013.

Total retail inventory in the San Antonio market area amounted to 122,494,289 sf in 12,184 buildings and 1,254 centers as of the end of 4Q 2013.

Read more at CoStar Group.

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

San Antonio cyber bootcamps seek military officers 

(2/18/2014 10:00:00 AM)

SAN ANTONIO - As the military continues to face more cutbacks, skilled cybersecurity specialists are leaving the service and looking for opportunities on the civilian side.

In an effort to assist military officers focus their skills in an entrepreneurial direction, the San Antonio Chamber of Commerce is planning to conduct a series of Cybersecurity Bootcamps beginning in March.

Two former military officers who already made a successful transition to the private sector are spearheading the program. Joe Krull with Denim Group and Brad Morrison, founder and CEO of Innove LLC, are heading up the effort.

John Dickson, also with the Denim Group and chair of the Technology subcommittee for the San Antonio Chamber (formerly the Greater San Antonio Chamber) also is involved

The chamber is seeking applications from officers who have the requisite skills and are interested in learning how to launch their own business. There is no cost for applicants who are selected for the program.

The bootcamp will consist of four quarterly programs with the first one set to begin on March 20.

Session one will focus on business strategy and planning.

The second session in June will focus on business financing.

A third session in September will look at sales and marketing strategies.

The final session in December will focus on human resources. Locations for the sessions will rotate between various sponsor companies in the San Antonio area.

“We really want these talented people to stay in San Antonio once they leave the service,” Morrison says. “So we will work with them and assign them to a mentor to provide them with the basic business skills they need to be successful outside the military.”

For more information and to get an application, call Michelle Morris at 210-229-2105.

Read more at the San Antonio Business Journal.

289-Units for Legacy Shopping Center in San Antonio 

(2/18/2014 9:30:00 AM)

SAN ANTONIO - An 8.2-acre parcel of land in the Legacy Shopping Center has been zoned for a new 289-unit apartment complex. Embrey Partners complex will soon be located at Loop 1604 and US 281 in north San Antonio.

The three- and four-story units will range from 550 sf for a one-bedroom residence, to 1,200 sf for a two-bedroom unit.

The Legacy development includes 326,455 sf of retail featuring major retailers including Lifetime Fitness, Best Buy, Staples, Main Event, Buffalo Wild Wings, Starbucks, Men’s Warehouse and a Saturday and Sunday farmers market.

Embrey Partners Ltd. expects construction to start as early as late spring 2014.

Source: Embrey

Gambrinus buys One Countryside Place in Alamo City 


SAN ANTONIO - One Countryside Place, a 144,718-sf office building, has been purchased by Domicilio OC LLC, an affiliate of The Gambrinus Co. The building is located at 12500 San Pedro Ave. in North Central San Antonio.

Gambrinus has purchased several properties in the Alamo City under various ownership names. To date, these affiliates own 626,977 sf of space spread out over nine office buildings.

“The group appears to be very bullish on the San Antonio market — especially the 281 corridor, where they have nearly 432,000 sf of assets,” said Kim Gatley, director of research for REOC San Antonio.

Read more at the San Antonio Business Journal.

San Antonio foreclosures March to decade's lowest postings 

(2/17/2014 9:30:00 AM)

SAN ANTONIO - The number of Bexar County properties listed for foreclosure keeps falling, according to Next month, 497 properties are expected to hit the auction block at the Bexar County Courthouse. The foreclosure level hasn't been this low since mid-2002.

The number represents a 31 percent drop from the same month last year when there were 724 postings. The year-over-year decline in foreclosures started in late 2012 and has continued for 16 consecutive months.

So far this year, the market has seen 1,645 foreclosure postings — a 29 percent drop compared to the first three months of 2013.

Read more at the San Antonio Express-News.

San Antonio home sales hot amid winter weather  


SAN ANTONIO - In January 2014, 1,348 homes were sold — up from the 1,255 homes sold in January 2013, according to the San Antonio Board of Realtors (SABOR).

Housing prices remained affordable, with 66 percent of the homes sold in January 2014 priced under $200,000, 31 percent priced between $200,000 and $500,000 and nearly three percent priced over $500,000.

The average days on market in January 2014 dropped to 75 — a 16 percent decrease from 2013 — and housing inventory was just 4.1 months.

“December 2013 closed out our biggest sales year since 2006, so it is no surprise January 2014 showed an increase over January 2013,” said Missy Stagers, SABOR’s 2014 Chairman of the Board.

“The winter months can be a slower sales time in housing, but this year we have been experiencing tremendous growth and expect to continue that trend as winter winds down and we enter the spring buying season,” said Angela Shields, SABOR’s President and CEO.

San Antonio Home Sales Recap
Total month sales 1,008 1,255 1,348
Average price $177,381 $184,403 $194,701
Median price $144,200 $151,100 $161,000

Read more at the San Antonio Board of Realtors. Also see housing at San Antonio Market Data Sources for more data.

San Antonio industrial record-breaking numbers 2013 


SAN ANTONIO - For 2013, the local industrial sector experienced the best year yet, according to REOC San Antonio. As for fourth quarter 2013, the market was sitting at a vacancy rate of 6.8 percent — an all-time low for the sector.

Over the 12 months ended December 31, 2013, leasing activity led to the absorption of nearly 2.5 million sf of space — well above the previous absorption record of 1.5 million sf posted in 2007.

Looking ahead to 2014, San Antonio’s industrial market is facing a formidable challenge — a lack of new space. “The lack of large blocks of available space has begun to restrict positive growth,” observes Kim Gatley of REOC San Antonio.

The lack of space has put upward pressure on rents. The citywide average asking rental rate stood at $7.58 per sf as of 4Q 2013 — up from $7.06 the previous year.

Developers have begun to turn dirt on new projects, which means some new options for industrial tenants.

Read more at the San Antonio Business Journal.

Home Depot hiring 750 in San Antonio 


SAN ANTONIO - The do-it-yourself chain Home Depot announced it is looking to hire 750 associates in San Antonio. Home Depot has 18 stores in the greater San Antonio area. The retailer is an anchor at The Forum at Olympia Parkway on the far Northeast Side and Alamo Crossing on the city’s South Side.

The local ramp up is part of a larger plan by Home Depot to hire 80,000 associates nationwide in preparation for spring — the busiest time of the year for the company.

Read more at the San Antonio Business Journal.

CoStar: San Antonio office trends for 4Q 2013 


SAN ANTONIO - During fourth quarter 2013, three buildings totaling 80,904 sf were completed in the San Antonio market area. This compares to seven buildings totaling 187,245 sf that were completed in 3Q 2013.

There were 346,300 sf of office space under construction at the end of 4Q 2013. The largest project underway at the end of 4Q 2013 was South Texas Regional Medical Plaza, a 51,000-sf building with 100 percent of its space preleased.

Total office inventory in the San Antonio market area amounted to 69,205,785 sf in 3,419 buildings as of the end of 4Q 2013.

Read more at CoStar Group.

GE expands, hiring 175 in Schertz 


SCHERTZ - GE Oil & Gas Inc. is expanding its operations in the San Antonio area by hiring an additional 175 full-time workers at its Schertz plant. GE is making an additional $8 million capital investment at the plant to hire the new workers.

GE has a 400,000 sf facility in Schertz that specializes in cryogenic plant design and the fabrication of small-scale liquefied natural gas and CO2 units. These units can be deployed to remote areas, industrial sites or even highway fueling stations.

With the addition, the Schertz facility will total 400 jobs and have an annual payroll of $16 million.

Read more at the San Antonio Business Journal. Listen to Small Towns, Big Deals under Podcast 205.

San Antonio hits two: CryusOne 200,000-SF data center 

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

SAN ANTONIO - CyrusOne will soon break ground on its new data center expected to have 180,000 sf of raised floor space along with 22,000 sf of Class A office space that customers can use. The new center will be located at 9500 Westover Hills Blvd.

This will be CyrusOne’s second data center in San Antonio. Upon full completion of the new facility, the company will have increase its San Antonio footprint to more than 300,000 sf.

CyrusOne expects the first phase of the new site to be completed during third quarter 2014.

Source: MarketWatch

CoStar 4Q: San Antonio industrial vacancy decreases 


SAN ANTONIO - The local industrial market ended fourth quarter 2013 with a vacancy rate of 6.2 percent — down over the previous quarter. Net absorption totaled positive 83,747 sf in 4Q 2013, compared to positive 67,302 sf in 3Q 2013.

Vacant sublease space decreased in the quarter, ending the quarter at 329,183 sf. Rental rates ended 4Q 2013 at $5.68, an increase over the previous quarter.

A total of three buildings delivered to the market in the quarter totaling 19,998 sf, with 2,720,674 sf still under construction at the end of the quarter.

Read more at CoStar Group.

San Antonio construction adds 1,100 in Dec. 2013 


SAN ANTONIO - Construction companies in the San Antonio-New Braunfels metropolitan area added 1,100 employees to their payrolls for the 12 months ended December 31, 2013, according to a report by Associated General Contractors of America.

As of December 31, 2012, local contractors reported a total of 40,300 employees. A year later, the employment count stood at 41,400 — an increase of 3 percent.

The modest increase may not be very exciting but it is telling of the local construction market, which has fared much better, compared to other cities around the U.S. in terms of employment. However, in Texas, all of the major metros saw modest employment increases in their construction industries in December.

Read more at the San Antonio Business Journal.

Titan buys Selma's 184 acres; Titan owns 124 acres next door 


SELMA, BEXAR COUNTY - Titan Development has closed on the purchase of 184 acres just northeast of San Antonio in Selma. The tract is adjacent to the 124 acres in the neighboring City of Schertz that the company also owns on Lookout Rd.

The Schertz 124-acre tract originally made up Titan Industrial Park. The firm’s namesake park now spans 293 acres of land in two cities.

The project was once a project designed to accommodate roughly 1.5 million to 2 million sf at build out. With the land purchase, the development will ultimately boast between 4 million and 5 million sf of space, according to Titan Development Chairman Kevin Reid.

Read more at the San Antonio Business Journal.

H-E-B closing oldest store in San Antonio 


SAN ANTONIO - H-E-B is planning to tear down its oldest continuously operating store in San Antonio to make way for a new, high-tech supermarket. The nearly 70-year-old store on Nogalitos St. just north of Hwy. 90 was first opened in 1945.

The new store that will occupy the same space will be on two floors and will use escalators to carry customers and their shopping carts up and down and to a parking area below.

H-E-B says it will close the old store in May 2014 and open the new supermarket by this time next year.

Read more at the San Antonio Business Journal.

San Antonio's largest North Central office properties 

(2/4/2014 10:00:00 AM)

SAN ANTONIO - The North Central area's top 25 largest office properties represent an average of 85 percent occupancy, according to research by the San Antonio Business Journal. The largest five properties are listed.

San Antonio Five Largest North Central Office Properties*
Company Address Rentable SF Occupancy
1 Interpark Business Park I & II 121 Interpark & 12961 Park Central 343,759 96% / 100%
2 Union Square I & II 10101 Reunion Place 325,585 83% / 92%
3 One International Centre 100 N.E. Loop 410 301,169 96%
4 SWBC Tower 9311 San Pedro 236,415 97%
5 The Pyramid Building 601 N.W. Loop 410 218,696 92%

*Only the top five of the top 25 are listed.

Read more at the San Antonio Business Journal.

WellMed center-city clinic in San Antonio planned 


SAN ANTONIO - Locally-based WellMed will develop a $6 million, 27,000-sf clinic near Crockett Park, just north of the Central Business District. The new WellMed at Crockett Park and Specialists for Health facility will be located in the 1700 block of McCullough Ave.

WellMed will offer specialty care in its new facility including heart tests, podiatry services, dermatology expertise and cardiology care.

The facility will be more than twice the size of an existing WellMed clinic, which is located on an adjacent site. WellMed plans to keep its current clinic open during the construction of the new facility.

Read more at the San Antonio Business Journal.

4Q 2013 retail: San Antonio positive absorption 493,361 SF 

(1/31/2014 5:40:00 PM)

SAN ANTONIO - The local retail market did not experience much change in market conditions in fourth quarter 2013. The vacancy rate remained at 5.6 percent in 4Q 2013 from 3Q 2013.

Net absorption was positive 493,361 sf, and vacant sublease space increased by 46,551 sf. In 3Q 2013, net absorption was positive 61,538 sf. Quoted rental rates increased from 3Q 2013 levels, ending at $14.53 per sf per year.

Tenants moving into large blocks of space in 2013 include:

Belk moving into 95,846 sf at Town Center at Creekside;

University of the Incarnate moving into 58,629 sf at 9160 Guilbeau Rd.; and

Hobby Lobby moving into 55,042 sf at Town Center at Creekside-Phase II.

A total of 12 retail buildings with 448,988 sf of retail space were delivered to the market in the quarter, with 1,384,733 sf still under construction at the end of the quarter.

Read more at CoStar Group.

Northwest Business Center sold in San Antonio 


SAN ANTONIO - The Northwest Business Center, a three-building office-flex complex, has been purchased by Live Oak-Gottesman. The complex spans 87,042-sf at 1800-1940 Grandstand on the city’s Northwest Side.

Northwest Business Center marks Live-Oak Gottesman’s seventh acquisition in San Antonio’s office sector. It is also the firm’s second investment on the city’s Northwest Side. In November 2012, the company purchased Network Crossing.

Capital improvements to Northwest Business Center will begin in the next 30 to 60 days.

Read more at the San Antonio Business Journal.

San Antonio adding more units, jobs in 2014 

(1/30/2014 10:00:00 AM)

SAN ANTONIO - In 2013, developers added 4,000 apartment units to the local multifamily sector, according to a report by Institutional Property Advisors (IPA). In 2014, that number will be even bigger — with developers on track to add 4,700 units to the local multifamily landscape.

Even as the number of units being added to the market is expected to be on the rise, vacancies are expected to go down. The city may be adding more apartment units, but it is also adding more jobs.

In 2013, San Antonio added roughly 8,100 jobs. In 2014, the Alamo City is on track to add 25,000 jobs, according to IPA.

IPA reports that the local apartment market ended 2013 by posting a vacancy rate of 6.4 percent. In 2014, this real estate sector is expected to end the year posting a vacancy rate of 6.3 percent.

Read more at the San Antonio Business Journal.

Dick’s Sporting Goods to South Park Mall 


SAN ANTONIO - Dick’s Sporting Goods, Penn.-based retailer, will open a new store in the space previously occupied by Mervyn’s in South Park Mall. Dick’s will occupy 50,000 sf of the 77,000-sf space at 2310 SW Military Dr.

The South Park Mall Mervyn’s box is the third in San Antonio to get a new lease on life.

This past summer, Sears Outlet Stores LLC signed a lease for 38,000 sf, roughly half, of a former Mervyn’s store located near the intersection of Northwest Loop 410 and Ingram Rd. in Northwest San Antonio. The store opened two weeks ago.

Back in 2010, Los Angeles-based retailer Forever 21 made news when it announced that it would be leasing all 80,000 sf of the former Mervyn’s at North Star Mall in North Central San Antonio.

Read more at the San Antonio Business Journal.

Sam's Club double dates in San Antonio 


SAN ANTONIO - As part of a larger roll-out of new outlets in the area, Sam’s Club opened its sixth and seventh stores in San Antonio. The new warehouse-style outlets will be located at 2530 Marshall Rd. on the far North Side and at 3239 Goliad Rd. near Brooks City Base on the city’s South Side.

Both retail centers were estimated at $7.5 million, according to state filings. Sam’s Club is going to unveil these new stores in a way that has never been done before in the retailer’s 31-year history. Both stores opened on the same day, February 27.

Over the course of 2013, Walmart opened four new Supercenters in greater San Antonio. And there are already three more Supercenters in the works in 2014.

Read more at San Antonio Business Journal.

ALHI resorts to La Cantera Hill Country buy 


SAN ANTONIO - La Cantera Hill Country Resort has been purchased and added to the Associated Luxury Hotels International (ALHI) portfolio. The resort at 16641 La Cantera Pkwy. features 508 guestrooms in the hotel, and more than 25 suites and 38 villa-style guestrooms in the resort’s exclusive Casita Village.

The resort offers 40,000 sf of indoor function space, which includes a 17,000-sf ballroom that is divisible into two smaller ballrooms or into nine individual meeting areas.

In addition, there is 25,000 sf of outdoor space, which includes a pre-function foyer and terrace. The resort also has an 18-hole championship golf course.

La Cantera Hill Country Resort becomes ALHI’s second member in San Antonio, joining the 214-room Hotel Valencia Riverwalk.

Source: Travel Daily News

Christus Santa Rosa MOB heads to Westover Hills 


SAN ANTONIO - Christus Santa Rosa Hospital-Westover Hills opened its third free-standing medical office building. The 70,000-sf building represents an additional $12 million investment in the Westover Hills hospital campus located at 11212 Texas 151.

The newest structure will house physicians and other health care providers. Christus is opening a second Family Health Center on the third floor of the new medical office building. The clinic will open in February and will offer primary and coordinated specialty care.

The new Family Health Center will serve as the training site for Christus’ Family Medicine Residency Program. That residency program is currently located at Christus’ downtown campus, which is being transformed into the Children’s Hospital of San Antonio.

Read more at the San Antonio Business Journal.

San Antonio unemployment drops to 5.3 percent in Dec. 


SAN ANTONIO - The San Antonio MSA added jobs in December 2013, according to Workforce Solutions Alamo. The unemployment rate in the MSA stood at 5.3 percent in December, down from 5.6 percent in November. Total nonfarm employment in the San Antonio area increased by 3,000 jobs from November to December 2013.

Industries that added workers in December include:

•  construction grew by 400 jobs;
•  trade, transportation, utilities added 1,900 jobs;
•  leisure and hospitality gained 700 jobs;
•  education and health services increased 500 jobs;
•  financial activities grew by 500 jobs; and
•  government gained 200 jobs,

Among the sectors that gave up jobs on a month-to-month basis include the professional and business services industry, which lost 1,100 jobs.

Since December 2012, 6,200 jobs have been added in the San Antonio-New Braunfels MSA.

For the full report, see the Texas Workforce Commission, San Antonio Business Journal and San Antonio Market Data Sources.

San Antonio in top ten Best Places for Homeownership 

(1/24/2014 7:00:00 AM)

SAN ANTONIO - The city has once again earned a prestigious spot on the 2014 list of The Best Places for Homeownership by consumer-resource website NerdWallet.

In the category of the best large metros for homeownership, the San Antonio-New Braunfels metropolitan area took the No. 6 spot.

Cities were ranked based on a scoring system for homebuyers. Factors going into the scoring included homeownership rates, housing affordability and growth of the metro. The overall score for the Alamo City was 75.6 based on a 100-point scale.

San Antonio had a home ownership rate of 62.9 percent according to the report. The median selected monthly homeowner costs is $1,337 while the median monthly household income is $4,257. The San Antonio-New Braunfels metro saw a 1.7 percent population increase between 2011 and 2012.

The metro fell just behind Raleigh,-Cary, N.C.; Charlotte-Gastonia-Rock Hill, N.C.-S.C.; Salt Lake City, Utah; Indianapolis-Carmel, Ind.; and Nashville-Davidson-Murfreesboro-Franklin, Tenn. on the national list.

In 2013, San Antonio took the No. 3 spot on NerdWallet’s homeownership list.

For the complete list and more stats see NerdWallet.

Read more at the San Antonio Business Journal.

Tesoro Corp. HQ in San Antonio sold to Cole 

(1/23/2014 8:53:00 AM)

SAN ANTONIO - Two office buildings and 15 acres on San Antonio’s far North Central Side have been purchased by an affiliate of Cole Real Estate Investments. The office buildings total 618,000 sf at 19100 Ridgewood Pkwy.

The anchor tenant of the complex is Tesoro Corp. EOG Resources Inc. is also a tenant of the complex, occupying upwards of 100,000 sf in the property.

The two buildings are part of the larger, master-planned office development known as RidgeWood Park. The community spans a total of 122 acres along US 281.

The complex is valued at roughly $63 million, according to the Bexar Appraisal District. The seller was an affiliate of locally based USAA Real Estate Co. (USAA Realco).

Read more at the San Antonio Business Journal.

San Antonio posts highest home sales since 2006 

(1/23/2014 8:45:00 AM)

SAN ANTONIO - There is proof that the greater San Antonio housing market is making a comeback. A total of 23,390 homes were sold over the course of 2013, according to a report by the San Antonio Board of Realtors (SABOR). Check out San Antonio Market Data Sources under housing for a list of how cities fared according to SABOR.

That figure marks a 17 percent increase from home sales for 2012, and the highest number of sales since 2006.

For the month of December, a total of 1,760 homes were sold. By comparison, a total of 1,548 homes were sold December 2012.

The average price of a home stood at $212,151 as of December 2013 — up from an average price of $193,374 last December.

As of December 2013, homes were spending an average of 78 days on the market. SABOR also reports that 97 percent of homes on the market are selling for their listing price.

Read more at the San Antonio Business Journal.

Medical office building purchased in NW San Antonio 


SAN ANTONIO - A vacant medical office building located at 5109 Medical Dr. in the South Texas Medical Center in Northwest San Antonio has been purchased by Stream Realty Partners. The 80,000-sf property is located on the campus of Christus Santa Rosa Medical Center.

Over the past several quarters, the trend among physicians has been to locate their offices in areas as convenient as possible to the patients — a trend that has prompted more users to look at retail and traditional-office assets, as well as medical office buildings.

Stream Realty also is poised to accommodate demand for space in a traditional-office environment.

Read more at the San Antonio Business Journal.

WellMed brings new clinic near downtown San Antonio 


SAN ANTONIO - WellMed Medical Management will develop a new 27,000-sf clinic near Crockett Park, just north of downtown. The new clinic will house a specialty group offering a variety of services, including cardiology care.

Officials with the San Antonio-based company say the new clinic will be much larger than the facility it currently operates on an adjacent site. The new facility will be more than twice the size of the existing primary care facility.

The new WellMed at Crockett Park and Specialists for Health facility is scheduled to open in summer 2015.

Read more at the San Antonio Business Journal.

San Antonio industrial 4Q 2013 CBRE 


SAN ANTONIO - The San Antonio industrial market experienced nearly 1.3 million sf of positive net absorption for fourth quarter 2013, bringing the year-end total to 2.5 million sf. Overall, 2013 proved to be one of the strongest years for the industrial market since 2007.

Below is a preview of the full page at San Antonio Market Data Sources.

San Antonio Industrial Market Statistics: 4Q 2013
Market Rentable
Total Vacancy
Net Absorption
Avg. Asking Lease Rates
Flex R&D
CBD 432,907 4.3% 11.2% 0 $4.20 $0.00
North Central 5,899,853 11.4% 13.5% -13,162 $6.38 $9.34
Northeast 19,561,968 6.8% 12.1% 1,328,717 $4.12 $8.47
Northwest 5,400,086 10.2% 10.7% 61,079 $4.19 $9.21
South 2,687,504 9.3% 9.3% -100,000 $2.88 $8.25
Total 33,982,318 8.3% 11.9% 1,276,634 $4.25 $9.05

*for NNN leases

For the complete page from CBRE, see San Antonio Market Data Sources under Industrial MarketView Preview.

SABOR: San Antonio housing market hot 

(1/16/2014 7:00:00 AM)

SAN ANTONIO - The local housing market is hot, according to San Antonio Board of Realtors (SABOR). The city saw a 17 percent increase in sales in 2013 when compared with 2012.

“With so many people moving into the city, more jobs have been created which has translated into economic growth and a rise in home sales and home prices,” noted Missy Stagers, 2014 Chairman of the Board for SABOR.

The keys to increased home sales lie in job growth, wage increases and affordable mortgage rates, Dr. Mark Dotzour, Chief Economist of the Real Estate Center at Texas A&M University shared.

The San Antonio population grew by nearly 1.5 percent in 2013. Additionally, San Antonio’s unemployment rate dropped to 5.6 percent in November 2013, a low compared to the national average of seven percent.

While higher interest rates and a dwindling supply of lots for new homes did take some of the momentum out of this sector of the industry, the new-home market continues to make significant strides, according to Jack Inselmann, regional director of the San Antonio office of Metrostudy.

Source: San Antonio Board of Realtors

Read more at the San Antonio Business Journal.

Matiraan buys180 acres in San Antonio 


SAN ANTONIO - Matiraan Ltd. has purchased 180 acres at Loop 1604 and Judson Rd. GB Development LLC was the seller of the property.

Read more at the San Antonio Business Journal.

Planning for Texas military bases  


TEXAS - More than 1 million Texans have served in the United States Military along with others that have trained and lived on the four active military bases in San Antonio, Fort Hood in Central Texas, Fort Bliss in El Paso, the Kingsville Naval Air Station and Sheppard Air Force Base in Wichita Falls.

One in nine active duty military personnel are stationed on one of the fifteen military bases in Texas. In 2012, the total annual economic output of Texas' military installations was almost $150 billion.

Most of Texas' military installations are located in rural or low-population areas.

The economic impact the military has on these communities is extraordinary, and yet Texas could have as many as seven bases on the chopping block when the federal Base Realignment and Closure (BRAC) Commission makes its next recommendations, most likely in 2017.

Read more at the San Antonio Express-News.

San Antonio apartment 2013: Hendricks-Berkadia 


SAN ANTONIO - Slowing apartment demand coincided with the deceleration in hiring last year as 2,820 apartments were absorbed compared to 3,600 newly occupied units in 2012, according to Hendricks-Berkadia.

Builders delivered 4,960 apartments in 2013, the largest number of completions since 6,960 units were built in 2006. Approximately 40 percent of the deliveries were in northern San Antonio.

Permits were issued for 2,300 apartments last year, which exceeded the average approval of 1,950 units annually in the four years following the recession. Permitting activity during the four years prior to the recession averaged 5,590 apartments annually.

Absorption trailed completions in 2013, resulting in the vacancy rate increasing 110 basis points year over year to 6.3 percent. Average asking rent reached $898 per month in December, a 1.8 percent annual advance.

San Antonio Multifamily 2013 / 2012 Comparison by Vacancy
Submarkets* Vacancy Average Rent
2013 2012 2013 2012
Southeast 3.6% 1.7% $1,041 $1,080
Airport/Northeast 4.4% 5.7% $774 $737
Far West 4.9% 5.6% $877 $858
Far North Central 5.3% 4.6% $874 $862
South 5.6% 3.5% $1,213 $1,176
Comal County 6.3% 4.4% $1,011 $979
Total (San Antonio-wide average)** 6.3% 5.2% $898 $882

*Chart represents select top submarkets ranked by vacancy.
**Total includes all submarkets within San Antonio.

View the full report at Hendricks-Berkadia.

See the Center's free San Antonio Market Data Sources. Office, industrial, retail, multifamily data all in one spot.

In a hurry? Then see the latest San Antonio NewsTalk Texas news.

Avnet facility underway in North Central San Antonio 


SAN ANTONIO - Ground has broken on a new two-story office building for Avnet Inc. The 58,000-sf building will be located in RidgeWood Park — a master-planned development spanning 122 acres of land along US 281 in far North Central San Antonio.

Construction value of the building was estimated at $3 million, according to state licensing. Avnet is one of the largest distributors of electronic components, computer products and embedded technology.

Ryan Cos. is the firm working on the project. The new office building is slated for completion this August.

Read more at the San Antonio Business Journal.

Chase banking on 250 new hires in San Antonio 


SAN ANTONIO - JPMorgan Chase will hire 250 more full-time positions in San Antonio in 2014. That would bring the total number of local jobs added in the past four years to 850.

The new positions will be divided between the Chase Retail Operations Center at 20855 Stone Oak Pkwy. and the Chase Card Center at 3700 Wiseman Blvd.

Read more at the San Antonio Business Journal.

San Antonio office market sees measured development 


SAN ANTONIO - The leading employment sectors for San Antonio have traditionally been military and tourism. The city is home to the largest military medical facility in the country and is the top tourist destination in Texas.

Media and technology is emerging, too, as San Antonio also has the largest co-working space for start-ups in the state (a 45,000-sf facility known as Geekdom) and the top open cloud computing company in the world (Rackspace).

New build-to-suits for corporate users have continued to broaden the industry base throughout the city, expanding employment in professional services, healthcare, energy and technology.

NuStar, a growing energy company, built a 300,000-sf headquarters in the far Northwest submarket and now has 550 employees.

KCI, a medical company with 2,000 employees throughout San Antonio, recently completed construction of its more than 98,000-sf headquarters.

Nationwide completed construction of a regional 300,000-sf headquarters, which housed nearly 1,500 employees upon delivery with hiring underway to expand that total to 2,000 associates.
Report by Steve Thomas, first vice president; Lindsey Tucker, vice president; and Sara Rutledge, director of research and analysis, CBRE.

Read more at Texas Real Estate Business.

San Antonio: Alamo Ranch in U.S. top 50 for home sales 


SAN ANTONIO - A San Antonio-area master-planned development has been ranked among the top 50 best-selling communities in 2013, according to John Burns Real Estate Consulting.

Galo Properties’ Alamo Ranch development ranked No. 10 on the list, up from No. 13 last year. Alamo Ranch had 600 homes sold in 2013, up 20 percent from the 500 in 2012.

Master-planned communities in Texas by far outpaced other states with 17 developments on the list. Communities in Houston, Austin and Dallas were all ranked in the top 50.

Read more at John Burns Real Estate Consulting.

TopGolf hits the rim in San Antonio 

(1/8/2014 11:00:00 AM)

SAN ANTONIO - TopGolf will begin construction on a 65,000-sf facility in first quarter 2014; the site is expected to open to the public in late fall 2014.

TopGolf San Antonio will be located across I-10 from Six Flags Fiesta Texas and The Shops at La Cantera. TopGolf’s exterior will face the intersection of I-10 and Loop 1604, allowing easy access from all traffic directions.

The Rim Development is located directly to the north. The new three-level location will include up to 2,900 sf of private event space and 102 climate-controlled hitting bays that can host up to six players at one time.

TopGolf San Antonio will serve approximately 400,000 visitors in its first year of operation, according to Randy Starr, TopGolf chief development officer.

Read more at PRWeb.

WestRidge One office underway in San Antonio 

(1/8/2014 9:00:00 AM)

SAN ANTONIO - USAA Real Estate Co. and the Patrinely Group LLC have begun work on a new Class A office park in Northwest San Antonio.

Ground was broken on the first building in WestRidge at La Cantera. Known as WestRidge One, the 128,000-sf structure is set to enter the market during fourth quarter 2014.

WestRidge One is one of four buildings planned for WestRidge. At build out, the office park will boast more than 514,000 sf of Class A space.

The WestRidge office park will span 42 acres of land along La Cantera.

Read more at the San Antonio Business Journal

$4.8M key to Hawthorn Suites in San Antonio 


SAN ANTONIO - Live Oak Apts. sold the 102-room Hawthorn Suites by Wyndham Northeast in San Antonio, TX to Jacobs Real Estate Advisors for slightly less than $4.8 million, or approximately $47,000 per key.

The 64,640-sf extended stay hotel was constructed in 1983 at 13101 E. Loop 1604 N. The seller put nearly $20,000 per key of renovation into the property in 2007.

It was sold at auction in October 2013 and closed with an extension in December 2013.

Read more at CoStar Group.

Positive note in San Antonio new home market 2013 


SAN ANTONIO - The residential recovery in San Antonio continues, according to housing research firm Metrostudy.

Over the course of 2013, home builders in the greater San Antonio housing market sold a total of 8,150 newly constructed homes.

That figure marks a 9.7 percent increase from the 7,429 closings recorded in 2012, reports Metrostudy, which released its year-end analysis of San Antonio’s new-home market.

Construction activity was up as well. Metrostudy reports that home builders began construction on 8,358 new homes in 2013 — marking a 3.3 percent increase from the 8,089 construction starts recorded for 2012.

But the lot-shortage challenge may be coming to a conclusion, according to local housing expert Jack Inselmann. There were 17,629 developed lots on the ground at the end of 2013 — up from the 17,077 developed lots recorded as of year-end 2012.

Read more at the San Antonio Business Journal.

$800M in new San Antonio highway projects 


SAN ANTONIO - Leaders with the City of San Antonio and the Texas Department of Transportation have announced more than $800 million for several road projects.

Along Hwy. 281, planners announced a new four-lane, non-toll expressway plus two toll lanes from Loop 1604 to Stone Oak Pkwy. In addition, Hwy. 281 will expand into a four-lane toll road from Stone Oak Pkwy. to the Bexar/Comal County line. Construction on this phase of Hwy. 281 is slated to begin in fall 2015.

On I-10, there will be two new toll lanes, one in each direction, from Loop 1604 to Ralph Fair Rd. The existing four non-toll lanes will remain. The I-10 construction will begin in late 2016.

There will also be congestion relief for those who drive along Loop 1604 on the city's far West Side. Loop 1604 will be expanded into a four-lane, non-toll Hwy. from SH 151 to US 90. There will be two lanes in each direction.

All three projects are expected to be complete within two to five years.

Read more at FOX 29.

Luxury home sales rising in San Antonio  


SAN ANTONIO - Over the first nine months of 2013, 86 luxury homes were sold in greater San Antonio, according to the Texas Association of Realtors’ (TAR) 2014 Texas Luxury Home Sales Report. The report tracks sales of homes priced at $1 million and higher.

The 86 sales represent an 18 percent increase from the number of luxury homes sold between January 2012 and October 2012.

At the end of October 2013, there were 259 luxury homes up for sale in San Antonio — that equates to 3 percent of the active listings in the local housing market.

“The housing slump is behind us. And as Texas’ economy and population continue to accelerate, we’re going to see increasing development and demand in larger, higher-priced homes with luxury amenities,” said TAR Chairman Dan Hatfield.

As of November 2013, the average price of a home in San Antonio was $214,677, according to the San Antonio Board of Realtors. Looking at market share by price, homes priced at $199,000 and below currently makes up 61.14 percent of the local housing market.

Read more at the San Antonio Business Journal.

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