REOC San Antonio
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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Dallas-based real estate firm buys medical office complex

Velocis, a Dallas-based private equity real estate manager, has purchased a 224,262 square foot medical office complex adjacent to the South Texas Medical Center.

The seven-building Class A complex Legacy Oaks recently underwent extensive capital improvements. It is currently 75 percent leased by a mix of health care providers. Tenants include Baptist Health System, MEDNAX, BB&T, and the Center for Healthcare Services. …Read Entire Post

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Local realty firm bets on medical retail for Huntington Square

According to a press release, the new development is a two story, 24,050 square-foot site will be on North Loop 1604 W. at Collins Circle. The new space will focus on leasing to medical retailers like spas, chiropractors, dentist offices and wellness centers as well as other retail tenants.

The focus on medical retail represents a bigger shift in general retail according to Raub, which is shifting from people buying goods at traditional retail stores to more people buying services instead. …Read Entire Post

California investor buys Oak Grove Square shopping center

The Oak Grove Square Shopping Center has been sold to an unnamed California investor according to a press release. Though the sale price was not disclosed, the strip mall was last appraised at $476,000.

The 8,890 square foot shopping center at 3203 Nacogdoches Road is said to be 75 percent leased at the time of the sale. Tenants include a barber shop, tax office, cell phone provider and a church. No word yet as to the investor’s plans for the shopping center. …Read Entire Post

New Class A Business Park coming to North Loop 1604

Pinnacle Oaks, a new $100 million, 450,000-square-foot business park, will break ground on its first phase in August, according to co-developers ALC-Partners and Pruitt Realty.

The four-phase master plan will cover 21 acres and consist of three Class A office buildings and a flex office at 4830 N. Loop 1604 W., which is being called the Pinnacle Oaks Tech Center. The 80,532-square-foot, single-story tech center will be the first phase of the project. …Read Entire Post

Furniture chain opening first San Antonio store in former Target

Oklahoma-based retailer Bob Mills Furniture will open a new store in San Antonio, its farthest expansion south since the company’s Temple location opened, according to the company’s website. The company will be leasing 62,840 square feet of space in the former Target store at Fiesta Trails Hilltop near Interstate 10 and De Zavala Road. …Read Entire Post

Harris Bay to buy downtown San Antonio building

commerce_buildingReal estate investment firm Harris Bay is under contract to buy the Commerce Building in downtown San Antonio and move its Texas office there, the firm announced Wednesday.

Though the sale price was not disclosed, Bexar County’s latest appraisal of the 40,000 square foot, eight-story building at 314 E. Commerce St. was $2.875 million. …Read Entire Post

New Property in Schertz Finds a Buyer

Doerr LaneThe brand new property at 9850 Doerr Lane, called Schertz 1, was finished in March and the bought by HPI in June. It sits on 15 acres and features loading docks on either side of the building. The purchase price was not disclosed. …Read Entire Post

Plans for Light building going before HDRC

The San Antonio Light building.

The San Antonio Light building.

GrayStreet, one of the most active developers downtown, bought the Depression-era building in December from Hearst, the parent company of the San Antonio Express-News, and plans to turn it into 60,000 square feet of upscale office space with a rooftop restaurant. …Read Entire Post

Plans to redevelop 23 acres east Downtown

Up-and-coming urban builder GrayStreet Partners is undertaking its biggest project yet, redeveloping 23 acres of neglected land across Broadway from The Pearl that would rival the historic brewery’s makeover in size. …Read Entire Post

OCI moves headquarters to Brooks

OCI-Logo-PNGSouth Korean-owned OCI Solar Power is moving its 15,500 sf headquarters from the Bank of America Plaza building to the Brooks headquarters of subsidiary Mission Solar Energy.

It marks the latest move by OCI and solar panel manufacturer Mission Solar to save money less than five months after Mission Solar announced it was cutting its staff by 58 percent, or 170 employees. It’s not planning on reducing staff with the move. …Read Entire Post