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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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

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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

Another retailer has filed for bankruptcy

gymboreeThe children’s clothing retailer Gymboree filed for Chapter 11 bankruptcy protection late Sunday. The mall-based chain says it plans to remain in business during its restructuring, but will close 375 to 450 stores out of its fleet of its 1,281 locations. Gymboree says the restructuring will reduce its debt by more than $900 million and position the company for “long-term success.” …Read Entire Post

BBVA’s new local corporate HQ downtown

BBVA plans to broaden marketshare in San Antonio.

BBVA’s new location is open for business.

The ground floor of the tallest building in San Antonio got a major facelift along with renovations for a new major banking tenant. After months of construction, with at least a $2 million price tag, the new BBVA Compass Inc. location in San Antonio is open for clients. …Read Entire Post

Economic development foundation to move HQ

sa_edfThe Weston Centre’s persistence has paid off as the San Antonio Economic Development Foundation has agreed to move its headquarters to the downtown office tower. The decision comes after nearly a year of negotiations between officials representing the economic development group and the urban high-rise. …Read Entire Post

Microsoft expanding its SA footprint

microsoft_logoMicrosoft Corp. continues to invest in its San Antonio data center clusters, including about $50 million for a new building near its Westover Hills computer server farm, according to state construction documents.

The new cooling facility on the 5100 block of Rogers Road is expected to be completed in September. The facility is for cooling a 256,000 square foot data center in Westover Hills. It opened in 2015 and cost about $80 million to build, according to public documents. …Read Entire Post

The Pearl’s growth spills over into Tobin Hill

One of the biggest barriers to growth there is about to disappear. Flasher Equipment, a manufacturer of traffic signs that occupies nearly 5 acres of land across the river from the Pearl, is moving in a few weeks to a new facility on the West Side, said James Griffin, a lawyer with Brown & Ortiz who represents the company. …Read Entire Post

Patience pays off for Hulu’s campus

hulu logoHulu has signed off on a multi-year lease for nearly 60,000 square feet of space at Fountainhead Park. That move will commit it to Northwest San Antonio through at least 2024. …Read Entire Post

Positive Job Outlook and Housing Expansion Fuel the Retail Market

1Q17_SARetSnap.xlsAlthough currently well within a sub-10% vacancy rate, recent activity in the San Antonio retail market has some wondering where are all the retailers?  Despite leasing activity, tenant moves and closures yielded 108,621 square feet of negative net absorption.

While the large national retailers are impacted the growing demand of online shopping, smaller retailers, including the Mom & Pop shops are finding it more and more challenging to cover the costs of rent and operating expenses, especially in new construction. The San Antonio retail market closed the first quarter with a citywide vacancy rate of 7.8% which is relatively stable compared to 7.6% last quarter. …Read Entire Post