Stonelake to build 500,000 SF in NE San Antonio

SAN ANTONIO – Stonelake Capital Partners plans to develop 500,000 sf of Class A industrial space in the 3300 block of IH-35 North.

Stonelake will build each new building to be 95,000 to 150,000 sf. The buildings will be completed by fall, and the company is working on leasing the space before it is built out.

The company acquired the land to build after it bought the neighboring Pan Am Distribution Center, which includes five industrial buildings and 682,000 sf of space.

The demand for industrial space has increased over the past year. Last week, the Business Journal reported that rent for San Antonio’s industrial space is at near-record levels that have not been seen since 2008.