Alamo City's Henry Terrell Building sold
SAN ANTONIO - An investment group finalized a deal for a historic building downtown that was previously slated to become a mixed-use project with apartments.
Trustees on behalf of the Siskind Family Trust, a Las Vegas-based entity, closed on the Henry Terrell Building, at North Alamo and Third streets. The three-story brick building was built in 1908.
Before the sale, there were plans for apartments and retail space on the ground floor. The developer, Mitch McManus of Uptown Interests, decided to sell because of high renovation costs and the lack of parking.
Read more at San Antonio Express-News.
FNC: Alamo City home prices up 1.7 percent
SAN ANTONIO - Living up to its reputation as a slow and steady market, the San Antonio housing market is up 1.7 percent.
According to the residential price update released earlier this month by Oxford, Miss.-based real-estate information technology company FNC Inc., home prices in San Antonio rose 1.7 percent between March 2012 and March 2013.
On a quarterly basis, home prices rose a modest .5 percent between first quarter 2012 and 2013.
Nationally, the quarterly gain was 5.7 percent. The FNC report is based on recorded sales of non-distressed properties in the 100 largest metropolitan areas. Both existing and new home sales are included.
Read more at the San Antonio Business Journal.
Alamodome's $1.7 billion impact on San Antonio
SAN ANTONIO - The Alamodome has proven to be a powerful economic engine. Events staged at San Antonio’s Alamodome sports facility generated $1.7 billion in total economic impact between 2003 and 2012, according to a survey conducted by economist Steve Niven of the Saber Research Institute.
The dome’s impact supported more than 18,000 full-time equivalent jobs over the ten-year period, resulting in total worker earnings of more than $570 million. Alamodome activities also generated more than $114 million in tax revenues for state and local governments and more than $116 million to the federal government over that time.
Read more at the San Antonio Business Journal.
Walmart circling the wagons around SA
SAN ANTONIO - Walmart has announced plans for its newest SuperCenter in Southwest San Antonio. A 180,000-sf SuperCenter is set to debut at the intersection of Loop 410 and Ray Ellison in early 2014.
The store will bring approximately 300 new jobs to the city.
This announcement marks one of many Walmarts to enter the San Antonio market. Others stores include:
- Foster Rd. and Binz Engleman, Northeast Side — $7.5 million in construction costs, as reported in May 2013;
- Leslie and Bandera roads, Helotes — as reported in April 2013;
- Woodlawn and Bandera roads, West Side — 2013 completion date; and
- Wurzbach Pkwy. and Blanco Rd., North Central Side — 2014 completion date.
Read more at the San Antonio Business Journal and NewsTalk Texas.
Elco buys two Round Rock, two SA multifamily units
SAN ANTONIO, ROUND ROCK - Elco Landmark Residential has partnered with DeBartolo Development LLC to purchase four garden-style multifamily properties located in San Antonio and Round Rock for a combined purchase price of approximately $44 million.
Collectively, the portfolio consists of 771 units and is 95 percent occupied.
The portfolio includes:
- San Antonio — Landmark at Atrium Commons (formerly Huebner Country) — 8727 Huebner Rd., 256 units constructed in 1983;
- San Antonio — Landmark at Stratton Park (formerly Hampton North) —12324 Starcrest Dr., 127 units constructed in 1985;
- Round Rock — Landmark at Amelia Ridge (formerly The Gables of Round Rock) — 1500 Lawnmont Dr., 188 units constructed in 1985;
- Round Rock — Landmark at Auburn Manor (formerly Vista Ridge) — 1200 South Mays St., 200 units constructed in 1984.
Read more at Business Wire.
Alamo Junction Rail Park chugs to the start
SAN ANTONIO - The rail service at the first phase of National Property Holdings’ 400-acre Alamo Junction Rail Park is set to begin in third quarter 2013.
The purpose of the business park, situated just south of San Antonio, is to provide rail-served commercial real estate to oilfield service and supply companies requiring rail logistics service.
The first phase calls for more than 22,000 linear feet of track, which would accommodate manifest and unit train traffic. Rail service will be operated by Rail Logix and will ultimately interchange with both the Union Pacific and Burlington Northern Santa Fe railroads.
Rail Logix, an affiliate of National Property Holdings, also has operations in the 300-acre Port Crossing Commerce Center logistics park in LaPorte and the 723-acre Rail Logix Ameriport in Baytown.
Read more at GlobeSt.com.
USAA, Patrinely set for Class A office in La Cantera
SAN ANTONIO - USAA Real Estate Co. and Patrinely Group is set to break ground on WestRidge, a master-planned office development located on La Cantera Pkwy. The 42-acre property is planned for four office buildings, each consisting of approximately 128,700 sf of Class A office space.
WestRidge One will be the first four-story office building, with construction slated to begin in fourth quarter 2013. The building is designed for LEED Silver certification.
USAA Real Estate Co. is the master developer and owner of La Cantera. Other La Cantera developments include The Westin La Cantera Resort, The Shops at La Cantera and currently under development, The Residences at La Cantera.
Source: USAA Real Estate Co.
Eagle Ford Shale boosts San Antonio industrial
SAN ANTONIO - The Eagle Ford Shale is attracting a cadre of oil-and-gas players to San Antonio. A leading beneficiary of that activity is the city’s industrial real estate market.
At the end of first quarter 2013, the industrial sector was sitting at a vacancy rate of 9.1 percent — down from 11.9 percent a year ago, according to NAI REOC. That figure is the lowest for this real estate sector, since late 2002.
Examples of the increased industrial activity include the 1.2 million-sf Amazon.com Fulfillment Center Recent underway in the Verde Enterprise Business Park on the far Northeast Side.
Meanwhile, on the city’s Southwest Side, a 518,000-sf Glazer’s Inc. project and a 500,000-sf Maruchan facility are nearing completion.
During 1Q 2013, EastGroup Properties broke ground on a 66,170-sf facility, the third building in the firm’s Thousand Oaks Business Center, located at 3660 Thousand Oaks in North Central San Antonio. The first two buildings comprise more than 109,000 sf in the park.
Read more at the San Antonio Business Journal.
For more on San Antonio’s Industrial Market, check out Market Data Sources for lots of sources.
San Antonio industrial 1Q 2013 NAI REOC
SAN ANTONIO - The San Antonio industrial market demonstrated a strong start in 2013 to continue the momentum that was apparent through the end of last year. According to the survey of more than 32 million sf of area industrial properties, new leases and expansions inked in first quarter generated 318,855 sf of positive net absorption.
As a result, the citywide vacancy rate tightened to 9.1 percent compared to 9.9 percent last quarter and 10.9 percent recorded in the same quarter of last year.
| Submarket* |
Total Inventory |
Total Vacant SF |
Vacant |
Avg. Quoted Rent Rate |
| CBD | 233,395 | 40,460 | 17.3% | $3.48 |
| NC | 5,322,614 | 613,631 | 11.5% | $8.38 |
| Far NC | 26,586 | 6,549 | 24.6% | $12.00 |
| NW | 4,173,634 | 626,703 | 15.0% | $9.06 |
| NE | 16,511,380 | 1,327,357 | 8.0% | $5.15 |
| South | 5,627,378 | 218,819 | 3.9% | $5.43 |
| Far West | 120,200 | 80,000 | 66.6% | $6.10 |
| Totals | 32,015,187 | 2,913,519 | 9.1% | $7.39 |
*Submarket maps are available in the report.
Read more at NAI REOC San Antonio.
San Antonio multifamily 1Q 2013: Austin Investor Interests
SAN ANTONIO - First quarter 2013 saw San Antonio’s multifamily occupancy increase .04 percent to reach 92.4 percent, according to Austin Investor Interests. Rents were a bit more aggressive, gaining $.02 per sf, or 1.8 percent, to reach an overall average of $.96 per sf.
If rental rates continue the pace set over the last year, experts expect the market to see them average $1.00 per sf by the end of 2013, as new construction pushes prices up and healthy occupancy keeps concessions (currently offered in 53 percent of properties at a loss of 2.1 percent) down.
There are currently over 8,000 units still under construction, while an additional 3,400 are anticipated to start during next quarter. Here are some quick facts from the San Antonio multifamily market:
- Average occupancy — 92.43 percent;
- Average rent — $792;
- Average SF — 828;
- Average rent/SF — $.96;
- New units added (conventional) — 1,093; and
-
Average sales price/unit — $60,000.
| Sector | Total Units | Occupancy | Rent (per SF) |
| Affordable housing | 21,646 | 94.93% | $.78 |
| Student housing | 2,221 | 94.82% | $1.36 |
Source: Austin Investor Interests
New homes out of the Front Gate on far NW Side
FAIR OAKS RANCH - David Weekley Homes has opened its newest subdivision in the San Antonio area. The subdivision, called Front Gate, is located in Fair Oaks Ranch. The community is between San Antonio and Boerne on the far Northwest Side.
The homes in Front Gate will be priced from $389,000 and range in size from 2,959 sf to 3,952 sf.
At the end of the first three months of the year, the San Antonio market was boasting double-digit growth in construction starts and home purchases, according to the latest analysis by Metrostudy.
Weekley Homes now has 15 subdivisions in the greater San Antonio area.
Read more at the San Antonio Business Journal.
Former Albertsons' shells hatch opportunities
SAN ANTONIO - When grocery store chain Alberstons Inc. pulled out of the San Antonio market in 2002, it left in more than 1.3 million sf of vacant space.
Given the roughly 32.7 million sf of space that comprised the city’s entire retail sector at the time, Albertsons’ departure equated to some 4 percent of the local retail market going dark.
All told, Albertsons vacated 23 stores — of which 14 served as the anchor space for area shopping centers. However, 11 years later, only two are presently unoccupied.
Some empty boxes were born again as community centers, new grocery stores, fitness facilities, family-friendly pizza venues, back-office centers — to name a few. Check out the chart for the current status of former-Albertsons locations.
| Location | SF | Use |
| 20780 Hwy. 281 | 63,709 | Vacant |
| 18450 Blanco Rd. | 62,284 |
Krav Maga, Too Good to be Threw, Tuesday Morning, BB&T |
| 16648 San Pedro | 60,082 | Big Lots, Performance Bikes |
| 24165 I-10 W. | 60,000 | H-E-B |
| 999 E. Basse | 60,000 | H-E-B |
| 14610 Huebner Rd. | 59,813 | Vacant |
| 9160 Guilbeau | 58,244 | University of Incarnate Word |
| 12018 Perrin Beitel | 57,200 | H-E-B |
| 8300 Pat Booker | 56,596 | ACCD NE |
| 15310 Nacogdoches | 56,370 | Church |
| 8764 Hwy. 151 | 56,059 | CPS NW Service Center |
| 5707 Bandera | 55,182 | School of Science & Tech |
| 2920 E. Southcross | 52,885 | Azteca Market / CVS |
| 2514 SW Military | 52,000 | Conn's Appliance |
| 3333 Fredericksburg | 50,287 | RD America |
Source: NAI REOC San Antonio
Read more at the San Antonio Business Journal.
UTSA Health Science Center developing $45M center
SAN ANTONIO - The University of Texas Health Science Center at San Antonio is expanding. A 125,000-sf, four-story building will be constructed on a site located behind the Health Science Center’s Holly Auditorium.
The academic facility will also house a new human anatomy teaching facility. The new center is slated to be completed by spring 2015.
The University of Texas System Board of Regents approved $45 million to construct the Academic Learning and Teaching Center at the Northwest San Antonio campus.
Student enrollment at the Health Science Center has increased nearly 22 percent from fall 2000 to fall 2012. Construction will begin in late summer.
Read more at the San Antonio Business Journal.
San Antonio home sales April 2013
SAN ANTONIO - The median price of existing single-family homes increased to $158,000 in April 2013, up 6.8 percent from March 2013.
Existing single-family home sales increased 4.5 percent from March 2013 for an April 2013 total of 1,627 sold units. Condos decreased in price to $98,500, down 3.9 percent from March 2013.
| Area |
Median Price Apr. 2013 |
Change in Price from Apr. 2012 |
Units Sold Apr. 2013 |
Change in Sales from Apr. 2012 |
| SABOR MLS-wide (single-family) | $158,000 | 5.4% | 1,627 | 17.50% |
| SABOR MLS-wide (condo) | $98,500 | 23.1% | 49 | 8.9% |
| Region cities* | ||||
| San Antonio | $150,000 | 4.3% | 1,133 | 14.0% |
| New Braunfels | $182,900 | -6.8% | 62 | 6.9% |
| Boerne | $281,750 | 8.1% | 44 | 57.1% |
| Converse | $110,000 | 11.7% | 36 | 33.3% |
| Schertz | $180,000 | 14.7% | 33 | 73.7% |
| Cibolo | $167,500 | 6.8% | 29 | 16.0% |
| Spring Branch | $308,500 | 46.9% | 28 | 154.5% |
| Helotes | $245,950 | 15.7% | 26 | -13.3% |
| Seguin | $138,000 | -19.8% | 15 | -16.7% |
| Bulverde | $312,500 | -10.7% | 14 | 250.0% |
*Data include single-family only and represents ten cities selected by units sold.
More data available at SABOR. Read more San Antonio data at Market Data Sources.
Fencing OK for Brainpower Center at UIW
SAN ANTONIO - The University of the Incarnate Word (UIW) has opened its new Brainpower Center for Fencing and International Sports.
The 18,000-sf facility, located on the campus of St. Anthony High School at 3200 McCullough Ave., will house eight fencing strips and practice space, spectator and exercise areas, a gymnasium that can accommodate basketball and volleyball, competition areas for badminton and table tennis, and an armory.
Construction cost $3 million for the multipurpose center. Bexar County contributed $2 million toward the construction costs of the new center through a special venue tax. UIW covered the balance of the construction costs.
Read more at the San Antonio Business Journal.
San Antonio's largest private employers
SAN ANTONIO - The top 25 largest private employers have been compiled by the San Antonio Business Journal. The list below reflects the top ten only.
| Company | Sector | Employee |
| H-E-B | Super Market Chain | 22,000 |
| USAA | Financial Services | 15,900 |
| Methodist Healthcare System | Health Care Services | 8,118 |
| Baptist Health System | Health Care Services | 7,205 |
| Wells Fargo | Financial Services | 6,500 |
| JP Morgan Chase | Financial Services | 5,000 |
| Christus Santa Rosa Health System | Health Care Services | 3,360 |
| Six Flags Fiesta Texas | Theme Park | 3,000 |
| Southwest Research Institute | Applied Engineering | 2,717 |
| Frost Bank | Financial Services | 1,983 |
Read more at the San Antonio Business Journal. The San Antonio Business Journal's employer list is available in the April 29, 2013, publication Corporate Relocation Guide.
S.A. former Target in Concourse sold
SAN ANTONIO - Connected Development Services, a subsidiary of The Retail Connection LP, has purchased the former Target site in the Concourse shopping center on the North Center Side.
The 119,480-sf property is located at 8421 Hwy. 281 on San Antonio’s North Central Side. The transaction marks Connected Development’s first purchase in the San Antonio retail market.
Chad Bradshaw, vice president of the company, said plans call for redeveloping the property to accommodate three to four national junior-box retailers.
The Retail Connection is based in Dallas.
Read more at the San Antonio Business Journal.
San Antonio construction employment up 5 percent
SAN ANTONIO - General contractors in San Antonio added 1,900 employees to their payrolls between March 2012 and March 2013, according to the Associated General Contractors of America.
The San Antonio-New Braunfels metropolitan region had 40,200 construction employees last March. That number has risen 5 percent to 42,100 workers a year later.
That is the same percentage by which employment figures went up in February as well.
In February 2012, the greater San Antonio construction industry had 40,000 workers. By February 2013, that number had risen 5 percent to 41,900 workers.
Corpus Christi added the highest percentage of new construction jobs at 18 percent.
The Dallas-Plano-Irving metro added the highest number of jobs — 12,000 between March 2012 and 2013.
Read more at the San Antonio Business Journal.
Walmart Supercenter opens in San Antonio
SAN ANTONIO - Walmart’s new Supercenter at FM 78 and Foster Rd. has opened for business. The store brings approximately 300 jobs to the area along with revitalization efforts of Foster Rd.
The Supercenter will sell apparel, electronics, garden items and a full line of groceries.
Read more at San Antonio Business Journal.
Karnes City Business Park underway
KARNES CITY, KARNES COUNTY - Developers have broken ground on the 13.5-acre Karnes City Business Park situated just south of the intersection of Calvert Ave. and US 181. Plans include:
- a 44,000-sf hotel;
- a 20,400-sf retail shopping center;
- two 8,000-sf restaurants;
- a 72-unit apartment complex; and
- a 5,500-sf bank.
The hotel, Karnes City Lodge, will feature 48 suite rooms in addition to a swimming pool, fitness center and business center.
Read more at the Karnes Countywide.
