Texas added 38,300 net new jobs in September, leading the nation in job growth, the Texas Workforce Commission reported Friday. The state’s seasonally adjusted unemployment rate edged up to 4.8 percent in September from 4.7 percent in August. The national unemployment rate for September is 5 percent.
Texas led the nation with a 38,300 boost to payrolls, followed by a 30,000 advance in California, Bloomberg News reported, citing figures from the Labor Department. The tourism industry statewide had the largest gains with 17,900 new jobs. Professional and business services employment rose by 6,000 jobs last month. Construction employment went up for the third straight month by adding 3,400 jobs. …Read Entire Post
Wonderland of the Americas
Ownership for the Wonderland of the Americas faced with having to fill the 96,000-square-foot hole left after anchor tenant Career Point College abruptly closed its doors over the weekend power has reversed its plan to sell the property.
After investing millions of dollars in its rebranding and pushing the mall’s vacancy to below 10 percent with new lease agreements, Crossroads Mall Partners Ltd. recently enlisted HFF to put the 565,718-square-foot Wonderland of the Americas up for sale.
Sid Weiss, a managing partner with the ownership, confirmed that the property has been taken off the market. …Read Entire Post
Large swaths of land inside Loop 410 are becoming increasingly difficult to come by, but thanks to the foresight of a local philanthropist, one North Texas real estate investor has landed a 44-acre win.
With plans for a mixed-use development, Dallas-based Rosewood Property Co. closed last week on property from the Tobin Endowment, the entity created after the death of San Antonio businessman Robert Tobin. The property is the last remaining piece of the Tobin Estate’s original 500 acres south of the Harry Wurzbach Road and Loop 410 intersection — the nucleus of surrounding commercial and residential growth. …Read Entire Post
REM Hospitality has been granted approval by the Historic Design and Review Commission to move forward with an 18-story Cambria-branded boutique hotel on a 0.4-acre site north of the San Fernando Cathedral and a block southwest of the future Frost tower.
But unlike other hotel projects popping up across the city, REM’s will incorporate nearly 50,000 square feet of Class A office space. …Read Entire Post
Along with developers and those working in real estate, the city of San Antonio is targeting high-growth areas as part of its plan to annex more than 1,220 acres of unincorporated territory.
Starting with the U.S. Highway 281 North commercial corridor the city’s Planning Commission on Wednesday is slated to discuss the annexation of 1,224 acres along the arterial highway beginning south of Marshall Road and Northwind Boulevard in Bexar County and continuing north along Highway 281 to about 1,800 feet shy of Ancestral Trail in Comal County.
The city of San Antonio is proceeding with plans to target the annexation of five high-growth areas, which have the potential to add millions of dollars to the city’s tax base. …Read Entire Post
Small banks reportedly are becoming reluctant to back commercial real estate as federal regulators scrutinize relaxed lending standards. The Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency have issued several warnings to commercial real estate lenders in an effort to get banks to strengthen loan terms, according to a report in The New York Times.
For small banks, commercial property loans are among some of their largest loans, so that guideline stands as a challenge. As smaller lenders move to sell off loans — and are reluctant to issue new ones — private equity funds and other institutional lenders are filling the void and moving in on the lucrative deals. …Read Entire Post
National movie theater chain Cinemark has signed a letter of intent to lease 34,500 square feet, while dining and entertainment venue Punch Bowl Social has signed on for 25,000 square feet to anchor the Lone Star Brewery District’s first retail development.
Dirt on the 32-acre Lone Star site will finally start turning now that plans have solidified for the former brewery south of downtown San Antonio. …Read Entire Post
Eisenhauer Point Business Park
When EastGroup Properties Inc. broke ground on the first phase of its Einsenhauer Point industrial development this year, shovels hit the dirt on a completely speculative basis. Roughly 10 months and two buildings later, the real estate investment trust is adding even more as a result of accelerating demand for industrial space along the I-35 corridor. …Read Entire Post
First CycleBar location in San Antonio coming to Stone Oak.
, an indoor cycling studio, will open its first San Antonio studio on Sept. 26 in a 3,000-square-foot space in Village at Stone Oak. The specialty retail center is located at 22602 U.S. Highway 281 N.
Tenants at Village at Stone Oak include Alamo Drafthouse Cinema, James Avery, Bar Louie, Victoria’s Secret, 54th Street Grill & Bar, Target, HomeGoods, Hobby Lobby, DSW and World Market. CycleBar’s rides offer a full-body workout and cardio exercise. The company provides shoes, water bottles and snacks at no extra cost, as well as secure storage and a locker room with robes, wet clothing bags and toiletries.
Click here to read the full article: First Cyclebar in San Antonio to Open in Stone Oak REBusiness 9-22-2016
Sterling Organization, a private equity real estate investment firm headquartered in Palm Beach, Fla., has acquired Park North, a 635,382-square-foot retail
power center in San Antonio. The asset was purchased on behalf of the firm’s institutional value-add fund Sterling Value Add Partners II LP for $81 million. …Read Entire Post