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San Antonio-New Braunfels

Development near San Antonio's Pearl? Location, location 

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

San Antonio airport traffic flying upward 

(7/6/2015)

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

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


Source: San Antonio International Airport

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

Niagara Bottling flows 557,000-SF factory to Seguin 

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

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

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

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

Niagara expects the plant to be completed by early 2016.

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

Read more at the San Antonio Business Journal.

Click here for San Antonio NewsTalk, San Antonio Market Research

San Antonio condo action getting traction 

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

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

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

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

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

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


Read more at the San Antonio Business Journal.

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

(7/2/2015)

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

 

San Antonio: fireworks kick off second phase at La Cantera 

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

(7/1/2015)

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

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

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

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

Read more at the San Antonio Express-News.

San Antonio: The Heritage senior living just over the hill 

(6/30/2015)

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

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

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

The property will be located near Christus Santa Rosa Hospital.

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

Read more at Texas Real Estate Business.

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

(6/30/2015)

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

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

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

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

Read more at the San Antonio Business Journal.

San Antonio East Side: Holt Cat to create 150 jobs 

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

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

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

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

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

The training will be offered over the next five years.

Read more at the San Antonio Business Journal.

Amazon adding another 300 full-time jobs in Schertz 

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

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

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

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

Read more at the San Antonio Business Journal.

New Braunfels: retail sale of Walnut Square 

(6/26/2015)

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

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

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

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

Read more at the San Antonio Business Journal.

San Antonio: 390-unit Ventana to Venterra 

(6/26/2015)

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

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

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

Read more from CoStar Group.

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

(6/24/2015)

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

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

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

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

Construction is expected to be completed by March 2018.

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

San Antonio: 412-unit Presidio lands new owner 

(6/24/2015)

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

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

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

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

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

Read more at the San Antonio Business Journal.

Seguin May 2015 housing trends 

(6/24/2015)

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

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


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

NAR San Antonio housing market 1Q 2015 

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

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

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


*Equity gain reflects price appreciation only.

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

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

Also see more Housing data under San Antonio Market Research.

Takata seat belts’ expansion in NW San Antonio 

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

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

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

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

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

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

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

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

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

Read more at San Antonio Business Journal.

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

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

(6/19/2015)

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

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


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

Source: Source Strategies Inc.

San Antonio adding 245 units to Medical Center community 

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

(6/18/2015)

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

(6/18/2015)

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

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

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

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


*Ranked by Class A Inventory

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

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

 

San Antonio home prices at record high 

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

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

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

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

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

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

Read more at the San Antonio Express-News.

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

San Antonio: Rockspring bounces to buy ten-acre tract 

(6/16/2015)

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

The property is positioned seven miles west of downtown.

The plot will be sectioned into four retail pad sites.

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

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

TAR Region Six: South Texas small land prices 

(6/16/2015)

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

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

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

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

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

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


*Adjusted figures are in 1966 dollars

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

First Choice Emergency rolls out Helotes project 

(6/16/2015)

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

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

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

The project is expected to cost $3 million.

Read more at the San Antonio Business Journal.

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

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

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

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

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

Exhibits include:

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


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

Read more at the San Antonio Express-News.

San Antonio: 299-unit Ridgeline gallops to Rogers Ranch 

(6/12/2015)

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

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

Get moving! Stream Realty to develop 55-plus community 

(6/12/2015)

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

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

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

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

Stream expects to begin the project in early 2016.

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

tag: San Antonio NewsTalk Texas

Office tower on the horizon for San Antonio skyline 

(6/11/2015)

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

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

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

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

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

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

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

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

Read more at the San Antonio Express-News.

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

San Antonio: 360-unit Park at West Ave sold 

(6/11/2015)

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

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

The property has been appraised at $51.6 million.

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

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

Read more at the San Antonio Business Journal.

Who stacks up? San Antonio major employers 

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

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

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


*released December 2014

Source: San Antonio Economic Development Foundation

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

San Antonio Market Research, San Antonio NewsTalk

'Cool factor' blows over Tetro Student Village at UTSA 

(6/9/2015)

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

(6/9/2015)

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

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

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

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

Read more at the San Antonio Business Journal.

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

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

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

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

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

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

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

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

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


Read more at the San Antonio Business Journal.

Lockheed Martin secures $34M extension with JBSA-Randolph 

(6/8/2015)

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

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

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

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

Read more at the San Antonio Business Journal.

REOC: San Antonio 1Q 2015 MOB needs booster shot 

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

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

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

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

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

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


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

Source: REOC San Antonio

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

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

San Antonio: Harland Clarke HQ heads to WestRidge One 

(6/5/2015)

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

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

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

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

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

Read more at the San Antonio Business Journal.

Little bang for big bucks in Central San Antonio 

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

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

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

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

(6/4/2015)

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

See the latest retail at San Antonio Research.

JLL: San Antonio office insights 1Q 2015 

(6/2/2015)

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

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

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

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

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

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

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


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

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

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

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

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

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

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

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

Read more about this story at MultifamilyBiz.com.

San Antonio Walmart hiring 300; a job to qualified veterans 

(6/1/2015)

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

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

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

The new store is slated to open on August 26.

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

Read more at the San Antonio Business Journal.

San Antonio: ALN apartment review 1Q 2015 

(5/29/2015 8:58:00 AM)

SAN ANTONIO - San Antonio is finally seeing stronger rent growth. Effective rents grew 1.5 percent in first quarter 2015 to an average of $863 per unit.

In addition, the market absorbed over 1,400 net rented units in 1Q 2015, bringing occupancy up to 89.7 percent from 89.4 percent at the end of 2014.

In the last 12 months, the San Antonio area has had an increase of over 5,800 net rented units.

Stabilized properties saw healthy gains in absorption and rents for the quarter as well.

San Antonio Market Statistics
1st Quarter 2015
  Occupancy Effective Rent /Unit
Market YE 2014 End 1Q Chg. YE 2014 End 1Q Chg.
San Antonio 89.4% 89.7% 0.3% $850 $863 1.5%


Source: ALN Apartment Data

See Texas Multifamily ALN 1Q 2015 for the full report. See the April 2015 San Antonio report from ALN

Looking for more stats? San Antonio-New Braunfels Market Research, San Antonio NewsTalk

REOC: San Antonio 1Q 2015 industrial 

(5/29/2015)

SAN ANTONIO - San Antonio industrial properties successfully maintained momentum in first quarter 2015 after recording an impressive performance in 2014.

New leases and expansions inked in the first three months of the year translated into 376,707 sf of positive net absorption.

To date, the slowdown in Eagle Ford Shale activity south of San Antonio has not had a significant impact on leasing velocity or demand for industrial space in the metro area.

If oil prices do not recover beyond $60/barrel in the months ahead, then the market may be negatively impacted by year end.

Topping the list of contributors to the healthy first quarter absorption total was the newly completed 200,000-sf distribution FedEx Ground facility located at 9935 Doerr Lane in Schertz, in the far northeast San Antonio metro area.

REOC San Antonio: 1Q 2015 Industrial*
All Types Citywide CBD Non-CBD
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 33,668,050 34,306,300 233,395 233,395 33,434,655 34,072,905
Direct vacant 2,270,372 2,829,268 28,548 0 2,241,824 2,829,268
Vacant 6.7% 8.2% 12.2% 0.0% 6.7% 8.3%
Average rent $7.58 $7.64 $3.60 N/A $7.61 $7.64
1Q Absorption 230,787 376,707 0 0 230,787 376,707
YTD Absorption 230,787 376,707 0 0 230,787 376,707


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

Source: REOC San Antonio

See the full Quarterly Industrial Report 1Q 2015, including previous quarters.

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

San Antonio: Calif. company rides tide to San Pedro Plaza 

(5/28/2015)

SAN ANTONIO - San Pedro Plaza has a new owner — Buchanan Street Partners, a real estate investment management firm out of Newport Beach, California.

The 163,764-sf property is located at 7330 San Pedro Ave. in North Central San Antonio.

The building is currently 70 percent occupied.

Read more at the San Antonio Business Journal.

San Antonio: KFW Engineers room to play in 30,000-SF HQ 

(5/28/2015)

SAN ANTONIO - When the ping pong table had to be taken out to make room for a survey team, it was a sign that KFW Engineers & Surveying had outgrown their northwest San Antonio location.

The company will soon start construction on a new headquarters building at Loop 1604 and Huntington Place in Shavano Park.

The new 30,000-sf building is expected to cost $4.2 million.

The local civil engineering firm quickly outgrew its current location at 14603 Huebner Rd.

Steven Krauskopf, KFW co-founder, said, "Employees had to double up in offices originally built for one person, and in February 2014, the company had to rent a satellite office in another building a mile away."

Founded in 2006, the company has 16 licensed engineers and 70 other employees with projects in San Antonio as well as master-planned communities in Schertz, Cibolo and Boerne.

Read more at the San Antonio Business Journal.

Cushman & Wakefield: San Antonio Industrial Snapshot 1Q 2015 

(5/28/2015)

SAN ANTONIO - Entering 2015 as a city with reinforced job growth and human capital, San Antonio continues to keep pace as one of Texas’ and the nation’s economic frontrunners.

In February, San Antonio experienced a 5.9 percent annualized employment growth rate, far outpacing that of Texas at 1.3 percent, according to the Dallas Fed’s San Antonio Economic Indicators report. San Antonio notched an eight-year low unemployment rate of 3.8 percent.

San Antonio’s industrial market continues to experience low vacancy rates, coupled with an overall trend of increasing asking rental rates.

Since 4Q 2013, new distribution centers for Amazon, Carrier, Caterpillar, Glazer’s, and Sysco, ranging from 500,000 sf to more than 1 million sf, have opened along San Antonio’s major highway corridors.

With low vacancy rates that are even lower for modern-quality inventory, the market should be ready to absorb the 700,000 sf of new, speculative construction delivering this year.

San Antonio 1Q 2015 Statistics
  1Q 2014 1Q 2015 Y-O-Y
Chg.
Overall vacancy 8.7% 10.5% 1.8 pp*
Direct asking
rents (PSF/YR)
$5.65 $5.92 4.8%
YTD leasing
activity (SF)
652,157 326,253 -50.0%

*percentage point

See San Antonio Industrial Snapshot 1Q 2015 (PDF) for the full report.

Don’t miss out on San Antonio NewsTalk.

Cushman & Wakefield office snapshot: 1Q 2015 San Antonio 

(5/28/2015)

SAN ANTONIO - Entering 2015 as a city with reinforced job growth and human capital, San Antonio continues to keep pace as one of Texas’ and the nation’s economic frontrunners.

In February, San Antonio notched a 5.9 percent annualized employment growth rate, far outpacing that of Texas at 1.3 percent.

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

The outlook for San Antonio’s office market appears positive and ready to absorb the stream of new construction availabilities coming online in the next two years.

San Antonio 1Q 2015 Statistics
  1Q 2014 1Q 2015 Y-O-Y
Chg.
Overall vacancy 16.2% 14.8% -1.4pp*
Direct asking
rents (PSF/YR)
$19.58 $19.80 1.1%
YTD leasing
activity (SF)
356,896 229,624 -35.7%


*percentage point

Source: Cushman & Wakefield.

See the full San Antonio Office Snapshot 1Q 2015 report.

San Antonio Market Research
San Antonio NewsTalk

GDC Technics shifts 162 jobs out of Alamo City to Alliance 

(5/27/2015 10:15:00 AM)

SAN ANTONIO - GDC Technics plans to move part of its operations from San Antonio to Fort Worth. This move will cost the Alamo City 162 jobs.

GDC Technics, an aerospace company specializing in aircraft modifications, has its headquarters at Port San Antonio where it occupies 340,000 sf.

According to Melissa Trevino, director of human resources, GDC anticipates “a substantial number of employees will accept a transfer,” which would reduce the number of people who are laid off.

Read more at the San Antonio Business Journal.

More background in Fort Worth? Read GDC lands 778,000 SF to modify aircraft for VIPs at Alliance.

San Antonio Market Research, Dallas-Fort Worth Industrial NewsTalk

Beep, beep! move over for San Antonio airport traffic 

(5/27/2015)

SAN ANTONIO - San Antonio International Airport has released passenger traffic statistics for February 2015.

San Antonio International Airport Statistics
  February
Passengers 2015 2014 Chg.
Domestic Enplanements 264,024 265,330 -0.49%
Domestic Deplanements 271,346 273,337 -0.73%
Total Domestic Passengers 535,370 538,667 -0.61%
InternationaI Enplanements 13,759 13,277 3.63%
International Deplanements 13,137 11,770 11.61%
Total International Passengers 26,896 25,047 7.38%
Grand Total all Passengers 562,266 563,714 -0.26%


Source: San Antonio International Airport

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

Flying from San Antonio? See nonstop flights and 'catch your plane.'

San Antonio Raceway speeds into action with new owner 

(5/27/2015)

MARION, GUADALUPE COUNTY - Roughly three months after filing for bankruptcy, San Antonio Raceway is back in business with new ownership.

Ian Grae, who owns and operates Cycle Ranch Events Center in Floresville, has assumed control of San Antonio Raceway.

The facility, located off I-10 in Marion, seats approximately 20,000 spectators.

“San Antonio is a major city and deserves a high-caliber raceway,” said Grae. “If its doors remained closed, it would have left our market without another track within 100 miles, leaving fans of this sport empty handed. I didn’t want that to happen.”

Planned renovations include upgrades to seating and concession areas.

Read more at the San Antonio Business Journal.

San Antonio: Rendina reels in 64,000-SF MOB 

(5/27/2015)

SAN ANTONIO - Rendina Healthcare Real Estate has acquired Physicians Plaza II, a 63,905-sf medical office building on the campus of the Methodist Specialty & Transplant Hospital (MSTH).

The facility is located within the 900-acre South Texas Medical Center.

Rendina’s immediate plans for the property include suite and common area renovations.

Read more from Texas Real Estate Business.

REOC: San Antonio 1Q 2015 office 

(5/27/2015)

SAN ANTONIO - Demand for space resulted in a strong first quarter start for area office properties, in fact, one of the strongest on record.

Gross leasing activity translated into 371,200 sf of positive net absorption led by the delivery of the fully-leased 158,075-sf Potranco building.

Decreasing vacancy, increasing rental rates and strong absorption characterize San Antonio’s expanding market.

While new supply creates opportunity to attract new companies to the area and accommodate existing tenants’ needs to expand and upgrade, the added space could cause vacancy rates to spike later this year if more leases are not inked prior to completion.

REOC: San Antonio 1Q 2015 Office
All Classes Citywide CBD Non-CBD
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 28,417,306 29,162,340 5,728,263 5,758,373 22,689,043 23,403,967
Direct vacant 5,222,040 5,093,070 1,596,113 1,510,685 3,625,927 3,582,385
Vacant 18.4% 17.5% 27.9% 26.2% 16.0% 15.3%
Average rent $19.77 $20.07 $19.86 $19.76 $19.76 $20.11
1Q absorption 335,672 371,200 120,222 41,968 215,450 329,232
YTD absorption 335,672 371,200 120,222 41,968 215,450 329,232


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

Source: REOC San Antonio

See the full Quarterly Office Report 1Q 2015, including previous quarters.

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

MELA units propel South San Antonio's transformation 

(5/26/2015 6:00:00 AM)

SAN ANTONIO - A new 360-unit multifamily community, MELA, is being planned for South San Antonio.

The complex is bordered by Mission Rd., the San Antonio River and the newly renovated Mission Concepcion Sports Complex.

The 360-unit project will transform a run-down, high-crime area into an unrecognizable luxury complex.

Driving past the site a couple of years ago, the passengers in Weem's car asked him to drive faster and get them out of the area. But Weems saw a diamond in the rough. Really rough.

The first phase of construction for the eastern half of the property will likely begin later this year, with preleasing coming online within 12 months. Construction is expected to take two years.

Units for phase one will range between 524 sf to 1,149 sf, with rent projections starting at $1,000 and reaching $1,600.

Read more at the San Antonio Business Journal.

Turning over a new leaf in San Antonio Botanical Garden 

(5/26/2015)

SAN ANTONIO - The San Antonio Botanical Garden plans to break ground on a nearly $17 million expansion this summer.

The nonprofit organization that operates the Botanical Garden has secured approximately eight acres immediately south of its existing site.

It plans to develop a new Welcome & Discovery Center featuring multiple classrooms, a culinary garden and an outdoor kitchen area.

The project will also include the construction of a new parking garden with about 150 additional spaces, as well as a new display garden and a 2.5-acre family adventure area.

“This will be the most transformative expansion in our history,” said Botanical Garden Executive Director Bob Brackman. “We hope to break ground in July or August.” The project is expected to take between 15 and 18 months to complete.

The additional acreage is bordered by Old Austin Rd., Funston Place, North New Braunfels Ave. and Pinkney St.

Roughly 130,000 people visited the Botanical Garden in 2014. Brackman expects the 2015 count to surpass that figure.

“We are expecting at least a 35 percent increase in traffic as a result,” Brackman said.

Read more at the San Antonio Business Journal.

San Antonio: Dallas partnership 'tracts' down 45 acres 

(5/22/2015)

SAN ANTONIO - Legacy Capital Co. and Standridge Cos., a Dallas-based partnership, has acquired multiple tracts totaling 45 acres within the western region of San Antonio at Monterrey Village.

The tracts are both fully entitled and ready for development and sales to end-users and developers.

The Monterrey Village tracts are zoned for mixed-use commercial development.

"Retail and restaurants, obviously," Kevin Watson, a partner with Legacy, said when asked what would be located at the southwestern quadrant of Loop 410 and Hwy. 151.

Along with retail development, a few of the tracts within the 45-acre property are zoned for office, medical and multifamily use.

Read more at the San Antonio Business Journal.

Need a visual? View Monterrey Village acquisition here.

New Braunfels: $6.3M expansion for Tech center at Alamo CTTC 

(5/21/2015)

NEW BRAUNFELS - The Alamo Colleges-Central Texas Technology Center (CTTC) campus will double in size with a $6.3 million expansion.

The new expansion will allow students to acquire an associate's degree at the CTTC for the first time as well as enhance the workforce development training programs.

The 30,000-sf expansion will include additional instructional space, biology and chemistry labs, student support areas and faculty offices.

The CTTC is located at 2189 FM 758.

Operated by Alamo Colleges and located next to New Braunfels Regional Airport between New Braunfels and Seguin, the CTTC opened its doors to students in 2004.

Read more at the New Braunfels Herald-Zeitung.

REOC: San Antonio 1Q 2015 retail overview 

(5/19/2015 7:30:00 AM)

SAN ANTONIO - The San Antonio retail market experienced a strong first quarter. San Antonio’s stable economy and growing population continue to support demand for retail space.

Over the past twelve months, the San Antonio metro area added nearly 32,000 jobs for an annual growth rate of 3.4 percent, according to the Texas Workforce Commission.

The 260,000-sf Phase V expansion at The Rim coupled with the completion of the 40,000-sf LA Fitness at The Vineyard accounted for the totality of 300,000 sf of new supply delivered to the market.

These additions also accounted for 60 percent of the total 488,934 sf of positive net absorption experienced.

The local retail market continues to make gains while developers remain steadfast in their efforts to lock in tenants before moving forward with too much construction.

REOC San Antonio: 1Q 2015 Retail*
All Types Citywide CBD / South Non-CBD / North
1Q 2014 1Q 2015 1Q 2014 1Q 2015 1Q 2014 1Q 2015
Inventory 46,999,000 47,211,587 6,365,096 6,244,326 40,633,904 40,967,261
Direct vacant 4,736,494 4,249,879 743,030 587,816 3,993,464 3,662,063
Vacant 10.1% 9.0% 11.7% 9.4% 9.8% 8.9%
Average rent $16.42 $16.51 $14.71 $15.29 $16.55 $16.61
1Q absorption 288,308 488,934 55,652 20,649 232,656 468,285
YTD absorption 288,308 488,934 55,652 20,649 232,656 468,285


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

Source: REOC San Antonio

Here's the full Quarterly Retail Report 1Q 2015.

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

Briggs Ranch GC, GC of Texas 'eagles’ nest near SA 

(5/19/2015)

SAN ANTONIO - San Antonio-based Brass Real Estate Funds has teamed with Convergence Communities of Wyoming to build a $100 million master-planned community on 880-plus acres.

The Briggs Ranch Golf Club and Golf Club of Texas, now undergoing renovation, with parcels abutting US 90 and Texas 211, would surround the community.

The development team hopes to break ground in 14 to 18 months.

Depending on how the market absorbs the development, the unnamed community will consist of five to eight subdivisions, with 2,200 to 3,000 houses; 600 to 900 apartments; about 500,000 sf of retail space and 250,000 sf of office space.

The Golf Club of Texas is what attracted Brass Real Estate to this area. Opened in 1999, the golf course had been sitting idle but is currently undergoing a $3.5 million renovation.

Employment growth was another factor.

The land sits just west of the San Antonio city limits in the extraterritorial jurisdiction, or ETJ, which extends five miles beyond the city limits.

It also rests inside the Medina Valley Independent School District, and prospective homeowners could qualify for a 100 percent loan via the U.S. Department of Agriculture’s Single Family Housing Guaranteed Loan Program.

The homes would cost between $230,000 and $690,000.

“This area is in the geography that the USDA has already approved,” said Rodriguez, CEO and founder of Brass Real Estate.

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

See San Antonio Market Research.

San Antonio: home prices rise, market remains affordable 

(5/19/2015)

SAN ANTONIO - Single-family home sales reported a 13 percent year-over-year increase in April, according to the San Antonio Board of Realtors (SABOR).

The majority of these homes were priced under $200,000, indicating that the local housing market remains affordable.

The average number of days spent on the market plunged 18 percent to just 59 days, while months of inventory rose slightly to 3.8 months in April, compared to 3.6 months in March.

The average price of a home sold in San Antonio was $224,426, an increase of 6 percent, while the median price of a home sold rose 7 percent to $189,300.

“Though our prices continue to show increases and our supply remains low, San Antonio is still an affordable market compared to what we are seeing nationally,” said Mary Ann Jeffers, SABOR’s Chairman of the Board. “During first quarter, the national median sales price for existing single-family homes was $205,200 while San Antonio’s was just $184,200.”

Read more at the San Antonio Business Journal.

Click for April 2015 SABOR stats.

San Antonio Market Research, San Antonio NewsTalk

San Antonio hits a hotel boom 

(5/15/2015)

SAN ANTONIO - Hotel development in San Antonio isn't just for downtown, and based on a handful of upcoming projects, that has never been more evident until now.

The 115-suite Embassy Suites at Brooks City will begin construction in July, located along S. New Braunfels St. at the corner of SE Military Dr. It will boast 8.000 sf of event space, a full-service restaurant, banquet seating and boardrooms.

Construction on the six-acre site is expected to take a year and a half, with the hotel slated for a late 2016 opening. Construction is estimated to cost $25 million.

The Water Walk Hotel at 5423 N Loop 1604 W will begin within the next couple of months. It will be a pair of four-story buildings and will serve as an extended stay-type of facility.

Preliminary plans put it right beside the Alamo Ranch Marketplace, and the permit has listed Lee Hospitality LLC as the owner of the property.

Read more at the San Antonio Business Journal.

New 1Q 2015 data at San Antonio Market Research.

Pleasanton: 71,000-SF Pleasanton Plaza brings $3M 

(5/14/2015)

PLEASANTON, ATASCOSA COUNTY - Pleasanton Plaza, a 70,466-sf, dual-anchored retail center located in Pleasanton, near San Antonio, has been sold for $3.2 million.

Located at 1715 W. Oaklawn Rd., Pleasanton Plaza is fully occupied by Bealls and Tractor Supply. The buyer plans to hold the property long-term.

“In a sale indicative of market trends, the buyer of Pleasanton Plaza was able to acquire a well-positioned retail center surrounded by many national retailers and restaurant chains, including a Walmart Supercenter, McDonald’s, Burger King, Walgreens and Chili’s,” Bryan Belk of Franklin St. Real Estate Services said.

Read more at Realty News Report.

SABOR: San Antonio home sales April 2015 

(5/13/2015 9:00:00 AM)

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

Quick facts include:

• The median price of existing single-family homes increased to $178,000, up 3.2 percent from March 2015.
• Existing single-family home sales increased 4.7 percent from March 2015 for an April 2015 total of 1,923 sold units.
• Condos decreased in price to $105,000, down 4.1 percent from March 2015.
• Existing condo sales increased 13.7 percent in April 2015 from March 2015 for a total of 58 sold units.

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

SABOR April 2015 Regional Sales and Price and Activity
MLS Wide Median Price
Apr. 2015
Price Chg.
Apr
. 2014
Units Sold
Apr. 2015
Sales Chg.
Apr
. 2014
SABOR
(single-family)
$178,000 6.3% 1,923 4.7%
SABOR (condo) $105,000 -4.5% 58 -14.7%
Region Cities*  
San Antonio $165,000 4.4% 1,295 6.2%
New Braunfels $195,250 11.3% 66 6.5%
Converse $137,500 10.0% 52 0.0%
Schertz $178,000 5.8% 49 11.4%
Boerne $355,000 31.7% 44 -20.0%
Cibolo $221,500 21.5% 41 -26.8%
Helotes $255,000 3.6% 39 -17.0%
Seguin $205,000 20.6% 21 10.5%
Spring Branch $343,000 8.9% 21 23.5%


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

Source: San Antonio Board of Realtors (SABOR)

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

TAR's most, lease profitable home remodels for San Antonio 

(5/12/2015)

SAN ANTONIO - The Texas Association of Realtors has released its 2015 edition of the Texas Remodel Valuation Report, which is based on data from the 2015 Cost vs. Value Report by the National Association of Realtors and Remodeling magazine.

San Antonio was the only market in which one of the top remodeling projects of 2013 – backup power generator installation – remained on top. Backup power generators were the most profitable project in 2014, recouping 129.2 percent of the total project cost. Sunroom additions were the least profitable, recouping only 45.6 percent.

Here are the top and bottom projects, ranked by recoup cost:

Top, bottom projects by recoup cost
Top five projects Bottom five projects
Project Cost
recouped
Project Cost
recouped
Backup power generator 129.2% Sunroom addition 45.6%
Siding replacement (vinyl) 99.5% Home office remodel 47.2%
Stone veneer accent 99.0% Upscale master suite addition 54.2%
Upscale siding replacement (fiber-cement) 88.6% Upscale major kitchen remodel 56.8%
Upscale garage addition 56.5% Bathroom addition 58.1%


Source: Texas Association of Realtors

Read more at the Texas Association of Realtors.

Seguin's $11M library; 43,000 SF of high-tech design 

(5/7/2015 8:45:00 AM)

SEGUIN, BEXAR COUNTY - The Seguin Public Library has celebrated the groundbreaking that kicks off an $11 million, 43,330-sf project officials expect to have completed by the summer 2016.

The new building, located off West Nolte St. just west of Walnut Creek, replaces the edifice built at 707 East College St. in the 1960s.

The building is designed for a silver LEED (Leadership in Energy and Environmental Design) certification, which is the recognized standard for measuring building sustainability.

The building will be adaptable for many generations of technology — built in such a way to enable accommodation of the latest and greatest technology, according to Byrne Construction, the developer of the project.

Seguin Mayor Don Keil thinks the striking and symbolic new structure, which embraces the future while situated beside the center of the city’s historic downtown, will do even more than that.

Read more at the Seguin Gazette. For an overview of the project, click here.

Air Force to activate 350-employee unit in San Antonio 

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

SAN ANTONIO - U.S. Air Force will officially “stand up” a new military unit at Joint Base San Antonio-Lackland that will centralize oversight in installation and mission support functions for 77 major bases, ten major commands and two direct reporting units today.

The Air Force Installation and Mission Support (AFIMSC) Center will consolidate 350 people at its headquarters at Building 171 at Port San Antonio.

Maj. Gen. Theresa Carter, former commander of Joint Base San Antonio/502nd Air Base Wing, will assume command of the new unit on May 5.

AFIMSC staff will provide security forces, civil engineering, base communications, logistics readiness, installation ministry programs, services, operational acquisitions and financial management.

Read more at the San Antonio Business Journal.

IBEX looking for 500 workers in San Antonio 

(5/4/2015)

SAN ANTONIO - IBEX Global expects to hire more than 500 additional people to deliver business process outsourcing services from its new contact center that opened in December 2014, according to a news release.

IBEX is recruiting for agents, trainers, supervisors and operations managers. The company plans to make those hires by the end of summer.

IBEX’s San Antonio facility is in Northwest San Antonio in University Business Park. The company — headquartered in Washington, D.C. — delivers onshore, near shore, and offshore business process outsourcing services in five countries across 19 call centers.

Read more at the San Antonio Business Journal.

CBRE San Antonio Industrial Report 1Q 2015 

(4/27/2015 7:00:00 AM)

SAN ANTONIO - The industrial market is hot in San Antonio, as first quarter 2015 saw the highest levels of positive absorption for a first quarter since 2008, which also marks the 16th straight quarter of positive absorption.

The market was once again led by warehouse product, which outperformed flex product by providing the vast majority of positive net absorption.

Warehouse space finished the quarter at 300,265 sf of positive net absorption, thanks in large part to FedEx's occupancy of its new distribution center.

Following a year that saw rates rise a total of $1.38 per sf year-over-year, 1Q 2015 saw a slower growth in citywide asking rates, finishing at $7.40 per sf.

As vacancy continues to tighten, rates should continue to rise while most likely not at the rate experienced throughout 2014.

Three buildings were added to the market, marking one of the highest quarters to start the year, totaling 360,831 sf.

San Antonio Industrial Market 1Q 2015
Market Vacant
(SF)
Vacancy
Rate
Available
(SF)
Availability
Rate
Absorption
(SF)
Delivered
(SF)
Under
Construction
(SF)
Asking
Rate
CBD 14,360 4.3% 14,360 4.3% - - - $8.40
North Central 270,231 4.6% 398,386 6.8% 71,772 - 66,405 $9.05
Northeast 1,394,553 6.8% 2,028,084 9.9% 225,224 202,763 693,676 $6.37
Northwest 725,476 13.4% 791,221 14.6% 70,858 158,068 - $10.03
South 249,897 8.9% 569,897 20.4% - - - $4.79
Totals 2,654,517 7.6% 3,801,948 10.9% 367,854 360,831 605,081 $7.40


Click here for the CBRE 1Q 2015 report.

See San Antonio Research.

Source: CBRE

One Alamo Center's healthy vacancy boost with new lease 

(4/27/2015)

SAN ANTONIO - One Alamo Center, a once mostly vacant building after the departure of two large tenants, has been experiencing a resurgence in new leasing activity over the past 18 months.

The latest lease signed for space at 106 S. St Mary's St. is for more than 22,300 sf. It is the new office location for Catto & Catto LLC. The local risk management firm moved a few blocks down from its previous location at 217 East Houston St.

Over the past year and a half, the vacancy rate in One Alamo Center shot up from a low of 39 percent up to its current rate of 88 percent.

The building is owned by Klabzuba Properties, an oil-and-gas investment company that also has a hand in non-energy related ventures.

Read more at the San Antonio Business Journal.

CBRE San Antonio Office Report 1Q 2015 

(4/27/2015)

SAN ANTONIO - For the third consecutive year, the San Antonio office market started off the year with a quarter of positive net absorption — first quarter 2015 closed with the strongest first quarter ever recorded with 426,409 sf of absorption.

This also marks the ninth straight quarter of positive net absorption.

Vacancy continues to fall, this time ending the quarter at 15.5 percent, matching the lowest point since 2010.

The majority of absorption seen was generally focused in the newest submarkets, as the market was led by the Far West and Far North Central. Each finished the quarter with 160,500 sf and 157,418 sf of positive net absorption respectively.

Large contributions include the completions of 8100 Potranco, which added the entire 160,500 sf of the Far West's absorption for the quarter.

The Far North also had its absorption largely affected by a new building being added to the market, with the sale-leaseback of iHeart Communications building at 20880 Stone Oak Pkwy.

San Antonio Office Market 1Q 2015
Market Rentable
Area
Total
Vacant
Vacancy
Rate
Net Abs.
(SF)
Delivered
(SF)
Under
Const. (SF)
Asking
Rate
CBD 5,100,035 1,071,983 21.0 24,853 - - 19.66
North Central 8,140,624 1,010,812 12.4 73,418 - 109,000 22.07
Far North Central 2,578,502 212,865 8.3 157,418 - 201,217 24.23
Northeast 1,924,652 277,439 14.4 8,207 - - 19.97
Northwest 8,581,667 1,567,129 18.3 7,513 - 335,580 20.04
Far West 544,610 31,600 5.8 160,500 160,800 101,180 -
South 473,871 75,608 16.0 -8,500 - - 15.50
Totals 27,343,961 4,247,446 15.5 426,409 160,800 746,977 20.67


Here's the full CBRE 1Q 2015 report.

See San Antonio Research.

Source: CBRE

Amazon fulfillment center seeks 200 plus employees 

(4/23/2015)

SCHERTZ, BEXAR COUNTY - Amazon's 1.25 million-sf fulfillment center now has nearly 500 full-time employees and is looking to hire more workers.

The facility uses robotics and an advanced tracking system to fill its orders to ship out retail products to customers. The Schertz facility is one of three Amazon shipping centers in Texas.

The Schertz facility shipped out its first package in September 2013 but the company installed its proprietary “Robo-Stow” system onsite in late 2014. Robo-Stow is a six-ton robotic arm that does much of the heavy lifting in the facility.

Amazon currently has more than 200 job listings for positions at the facility on Indeed.com.

Read more at the San Antonio Business Journal.

NewsTalk, Market Research

Shopping center sold in Far North San Antonio 

(4/22/2015)

SAN ANTONIO - Berry Oaks Shopping Center has been sold. The property is located in Far North San Antonio near the intersection of Hwy. 46 and US 281.

It may be easy to write off the 19,000-sf shopping center in the Singing Hills area as the middle of nowhere given that it is a healthy distance from San Antonio's retail hotspots.

However, in the past couple of years, the combination of overall population growth, people moving out beyond Loop 1604, and the development of a new Walmart have sparked the neighborhood's retail environment.

At the time of the sale, the five-year old Berry Oaks was 100 percent leased with a mix of local and regional tenants.

This one sale will not spark a flurry of investment activity for the area, but it does point to San Antonio's expanding footprint.

More people are rooting themselves in suburban areas such as Boerne, Seguin and New Braunfels, and indications are that Hwy. 46, which arcs through those cities, will play a vital role in the city's continued outward expansion.

Read more at the San Antonio Business Journal.

NewsTalk San Antonio, Market Research

San Antonio apartment overview 1Q 2015 

(4/21/2015 9:00:00 AM)

SAN ANTONIO - Apartment MarketData Research Services LLC has released March 2015 data. The multifamily market data represent three months trailing (Jan.–March 2015).

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

Multihousing Market Condition Comparison Jan.–Mar. 2015
Age
Group
San Antonio Texas
Units Occ. Rate Size Units Occ. Rate Size
< 1970 8,951 91.8% $0.856 800 115,216 96.1% $0.875 834
1970's 22,973 92.9% $0.888 778 355,392 95.8% $0.850 819
1980's 41,020 94.0% $0.966 762 468,033 96.6% $0.943 782
1990's 10,694 94.6% $1.088 932 192,525 97.0% $1.146 926
2000's 28,290 94.4% $1.122 926 259,916 96.6% $1.179 959
2010's 7,432 91.6% $1.362 893 58,242 95.8% $1.351 928
Totals* 119,360 93.6% $1.024 830 1,449,324 96.4% $1.011 852


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

Find more! March 2015 San Antonio Multihousing Market Conditions Report.

Source: Apartment MarketData Research Services LLC, San Antonio

Find more on Multifamily and more at San Antonio Market Research and San Antonio NewsTalk Texas.

San Antonio 64,000-SF Windemere at Westover Hills underway 

(4/21/2015)

SAN ANTONIO - A major new medical facility near the Christus Santa Rosa Hospital-Westover Hills campus has broken ground.

The Windemere at Westover Hills skilled nursing center will span 63,956 sf and house 96 private occupancy suites.

The new facility will provide post-acute, transitional and rehabilitative care services in the rapidly growing far west side community.

Cantex Continuing Care Network will own the Windemere facility. Christus Santa Rosa Health Care previously owned the land where the project will be constructed.

Read more at the San Antonio Business Journal.

San Antonio’s unemployment fell to 3.7 percent in March 

(4/20/2015)

SAN ANTONIO - Unemployment in the San Antonio-New Braunfels metropolitan area dropped to 3.7 percent during the month of March, according to data from the Texas Workforce Commission.

This is down from San Antonio’s 3.8 percent unemployment rate in February and down from 4.9 percent during March 2014.

Statewide, Texas’ unemployment rate fell to 4.2 percent in March — its lowest level since July 2007. This is down from 4.3 percent in February and down from 5.4 percent in March 2014.

Total nonfarm seasonally adjusted employment actually decreased by a net 25,400 jobs in March.

However, the state added 327,500 jobs over the past 12 months for an overall growth rate of 2.9 percent. Texas outperformed the nation, which had a growth rate of 2.3 percent.

The Mining and Logging industry, which includes oil and gas employment, lost some 2,800 jobs statewide. Meanwhile, the Education and Health Services industry added 3,400 jobs in March — Financial Activities added 3,400 positions.

Read more at the San Antonio Business Journal.

For more employment data, visit the Texas Workforce Commission.

Tight fittin'? San Antonio tightest housing market in decade 

(4/20/2015)

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

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

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

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

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

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

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

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

Read more from the San Antonio Express-News.

See March 2015 home sales from SABOR.

San Antonio apartment market will soften, continue to climb 

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

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

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

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

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

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

Here are some other highlights from the report:

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


Read more at the San Antonio Business Journal.

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

KB Home acquires 57 acre in Far Northwest San Antonio 

(4/15/2015)

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

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

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

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

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

Read more at MarketWatch.

Alorica Inc. adding 100 new jobs in San Antonio 

(4/14/2015)

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

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

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

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

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

Read more at the San Antonio Business Journal.

Bank of San Antonio unveils plans for new HQ 

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

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

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

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

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

Read more at the San Antonio Business Journal.

San Antonio ALN apartment report March 2015 

(4/13/2015)

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

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

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

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

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

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

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

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

Source: ALN Market News

SABOR: San Antonio home sales March 2015 

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

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

Quick facts include:

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

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

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

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

Source: San Antonio Board of Realtors (SABOR)

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

San Antonio Olmos Park development underway for 26 homes 

(4/10/2015)

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

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

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

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

Read more at the San Antonio Express-News.

AT&T makes hiring call in San Antonio 

(4/7/2015)

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

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

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

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

Read more at the San Antonio Business Journal.

Biotest moves to larger facility in San Antonio 

(4/6/2015)

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

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

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

Read more at the San Antonio Business Journal.

City View Village sold for $6.3M in San Antonio 

(4/6/2015)

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

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

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

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

The retail center is 100 percent leased.

Read more at the San Antonio Business Journal.

Documation signs for new San Antonio HQ near Shavano Park 

(4/1/2015)

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

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

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

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

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

Read more at the San Antonio Business Journal.

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

(4/1/2015)

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

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

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

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

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

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

Read more at the San Antonio Business Journal.

Halliburton lays off 60 employees inside Eagle Ford Shale 

(4/1/2015)

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

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

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

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

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


Read more at the San Antonio Business Journal.

For more employment stats, see the Texas Workforce Commission.

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

(4/1/2015)

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

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

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

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

Read more at the San Antonio Express-News.

Berkadia: San Antonio 2014 Multifamily Sales Summary 

(3/31/2015)

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

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

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

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

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

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

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


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

Source: Berkadia

San Antonio attracts record number of international visitors 

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

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

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

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

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

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

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


Source: San Antonio International Airport

Read more at the San Antonio Business Journal.

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

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