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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San Antonio new home construction could top 2006 record

The pace of home construction in the San Antonio area is on track to break records, according to Jack Inselmann, regional director in San Antonio at Zonda, a housing-market research firm.

Builders started work on 5,132 homes in the second quarter which trails the peak of 5,437 homes begun in the second quarter of 2006, just before the national housing market collapsed.

Builders started construction on 9,666 homes during the first six months of 2021, up from 7,166 last year.  The annual rate of housing starts reached 18,911 at the end of the second quarter, trailing San Antonio’s all-time high of 19,818 homes at the end of the third quarter of 2006. That’s up 33.6 percent from a year ago, the highest year-over-year percentage change among the top 15 U.S. housing markets.

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IRA Capital Buys trio of medical office buildings

IRA Capital recently acquired a 55,457-square-foot medical office building portfolio in San Antonio. The portfolio encompasses three medical office buildings and an ambulatory surgery center.

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Weingarten Sells Fiesta Trails Movie Theater Site to Koontz for Multifamily Development

Fiesta Trails Apartments

Houston-based Weingarten Realty recently sold the former Regal Fiesta 16 movie theater property to San Antonio-based Koontz Corporation.  Koontz plans to break ground in early 2022 on a new 300-unit class A multifamily apartment community.

The recently rezoned 10.36-acre site, located at 12631 Vance Jackson Road, backs up to the Fiesta Trails Shopping Center, anchored by local grocer H-E-B, Bob Mills Furniture, La-Z-Boy, Marshall’s, Party City, Petco and other retailers and restaurants.

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Texas named 2021’s Best State to Start a Business

Starting a business is never easy. Choosing the right state for a business is therefore crucial to its success.

WalletHub recently named Texas the state that best provides the conditions that support business creation — access to cash, skilled workers and affordable office space — all of which are important to help new ventures not only take off but also thrive.

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Lumber costs ease but still remain high

Lumber futures have dropped almost 50 percent from their 300 percent peak in May 2021, according to Nasdaq.

The fall came as mills restarted or ramped up production and some customers delayed purchasing until prices came down, the New York Times reported.

However, prices remain at more than double what they were a year ago.  Mills have begun to restart or increase production.

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Cold Creek Solutions plans 305,000-SF facility at IH-10/Loop 410

CSS San Antonio Facility

Dallas-Fort Worth-based developer Cold Creek Solutions (“CCS”) recently announced plans for a 305,000-sf state-of-the-art cold storage building at the intersection of I-10 E and Loop 410 to support the region’s continued growth and development.  CCS anticipates breaking ground this fall so that the facility will be ready for operation in late 2022.

Upon completion, the facility will provide storage for 45,000 pallets of frozen or refrigerated products.  Unlike existing vintage facilities and other new builds in the region, this new project, designed by ARCO National Construction, will allow for a large-scale or multi-operator build-out with tremendous efficiencies.

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Remote Work Expected to Hurt Downtown Spending – But May Help Suburbs

The new analysis of the impact of long-term remote work after the pandemic and its potential impact on cities indicates that more remote work means fewer commuters – and that means less revenue for cities and potential challenges for the commercial real estate sector. …Read Entire Post

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Two more buildings underway at Cornerstone Industrial Park

Indiana-based Scannell Properties recently broke ground on two industrial warehouse buildings in the Cornerstone Industrial Park located near the intersection of Loop 410 and I-10 on the City’s east side.

Headquartered in Indianapolis, Scannell is building Cornerstone Logistics Crossing, a Class A speculative industrial park at 5367 and 5311 Dietrich Road totaling 423,260 square feet of warehouse space. …Read Entire Post

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Montecito Acquires Westover Hills Medical Office Building

5715 Rogers Road

Healthcare investment firm Montecito Medical recently acquired a newly built, 29,375-square-foot medical office building located at 5715 Rogers Road in the Westover Hills neighborhood in Far West San Antonio.  …Read Entire Post

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Bill Miller Bar-B-Q Gets OK for HQ Land Deal

Bill Miller Bar-B-Q is working to acquire 57 acres on the City’s West Side for $3.1 million with plans to move its headquarters and operations to the property.  The property is adjacent to distribution centers for Amazon.com Inc. and Glazer’s Beer & Beverage, and it is also near the San Antonio Food Bank. …Read Entire Post

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