REOC San Antonio
Commercial Real Estate Since 1974   
Kim Gatley
enior Vice President & Director of Research at REOC San Antonio

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CRE’s Pricing Disconnect

There is a disconnect in the public and private markets and across sectors.  Some small disconnect isn’t anything new but there’s been a significant repricing on public assets since COVID while valuations on the private side didn’t moved as much, especially earlier in 2020.  That said, the positive vaccine news increased valuations by the end last year which has closed some of the gap between the private market and the public market.

But the divergence in pricing across sectors remains. Retail properties, for example, have been hardest hit.  Retail sees the immediate link between the revenue a tenant makes in a store and the rent it pays for that store space.  Meanwhile, Industrial properties have continued to be very strong and even accelerated in some markets.

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CPS Energy sells 146 Navarro for $22M

CPS Energy recently sold its Navarro Building to Los Angeles-based BH Properties for $22.3 million.  The building and garage, located at 146 Navarro St., is situated across the street from its former headquarters at 145 Navarro.

Built as a seven-story parking garage for HemisFair ’68, CPS Energy has been the building’s sole occupant since the event, adding three stories of office space above the garage in 1987.

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New office space in Alamo Heights at 200 Austin Hwy

200 Austin Hwy

Locally-based, Ridgemont Properties Inc. recently delivered 200 Austin Highway in Alamo Heights.  The 28,000-square-foot office development is aimed to attract local small businesses with three completed spec suites.

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RH & Farmer Bros sign at EIP

Robinson Weeks Partners and Titan Development executed two leases with furniture retailer RH (formerly Restoration Hardware) and wholesale coffee supplier Farmer Brothers at Enterprise Industrial Park (EIP), a Class A speculative development located at 17445 Lookout Road in Schertz.  The leases total more than 80,000 square feet.

Enterprise Building VI is a joint venture between Robinson Weeks and Titan Development.  The facility is part of EIP, a 125-acre, master-planned industrial park.

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New industrial park underway near Loop 410 & I-35

CenterPoint Logistics Park

Dallas-based Jackson-Shaw broke ground on CenterPoint Logistics Park – a 65-acre master-planned industrial park at 4235 Milling Road, near the intersection of Loop 410 & IH-35.  The project is a partnership between Jackson Shaw, a national real estate developer, and Dallas real estate investment firm Thackeray Partners.

The first phase of the project includes three buildings totaling 302,518 square feet.  Each building will include flexible space for office, showroom, manufacturing, distribution, assembly and other industrial uses. Two of the buildings are rear-loaded, one is front-loaded.

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Hines Acquires Amazon Facility in Schertz

Amazon Fulfillment Center – Schertz

Hines recently purchased the 1,262,294-square-foot Amazon fulfillment center in Schertz. The new owner reportedly spent $129.2 million for the colossal Class A warehouse. The sale is the company’s fourth global logistics purchase this year.

The facility is situated at 6000 Schertz Parkway, just west of Interstate 35 and 20 miles northeast of downtown San Antonio. …Read Entire Post


Medical and corporate campus expansions top largest building permits in November

November saw more than $554 million in commercial construction permits with values of at least $2 million each, according to city of San Antonio records. …Read Entire Post


University Health System Picks of Two Office Buildings in SA

University Park Tech Center

University Health System (UHS) recently acquired University Park Tech Center III and IV from Clarion Partners.  The two buildings, totaling 165,007 square feet, are situated in University Park which consists of approximately four million square feet of primarily single-story office flex buildings. …Read Entire Post


Keller Williams City View Relocates to The Park at Vance Jackson

The Park at Vance Jackson

Keller Williams City View, a franchise of Keller Williams Realty International, signed a full-building lease for 30,000 square feet at The Park at Vance Jackson.

The property, located at 15510 Vance Jackson at Loop 1604, was delivered in February 2020. …Read Entire Post


Worth & Associates Breaks Ground on Walker Ranch Business Park

Overall Site Plan

Worth & Associates is under construction on Walker Ranch Business Park, a two-building, 135,000-square-foot office park in San Antonio. The site is located on 10.8 acres at the corner of Wurzbach Parkway and West Avenue in the city’s North Central submarket. …Read Entire Post