San Antonio: 114 acres auctioned for $20M in 20 minutesSan Antonio: 114 acres auctioned for $20M in 20 minuteshttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=14052015-03-27T14:12:00Z2015-03-27T00:00:00Z

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

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

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

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

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

San Antonio Business Journal
San Antonio-New Braunfels
http://www.bizjournals.com/sanantonio/news/2015/03/26/114-acre-land-sold-for-20-3m-in-bidding-war.htmlRead more at {Source}

 Search NewsTalk Texas