The retail submarkets in San Antonio’s northwest quadrant may have a reputation for their national chain-heavy lineup of tenants.
Population growth, the strongest employment presence in the city and a steady increase in household incomes has made Northwest, far West and far Northwest San Antonio hot spots. Local Coffee has an expanding base of the business’s customers in the northwestern submarket spurred the specialty retailer to lock down two new locations. …Read Entire Post
In the coming years, the San Antonio-based credit union plans to expand its retail and commercial lending branches into several new counties, including Atascosa, Bandera, Comal, Guadalupe, Kendall, Medina and Wilson.
Generations has 14 branches in Bexar County already, more than half of which are on the same site as San Antonio-based grocery retailer H-E-B. …Read Entire Post
There has been some concern about all of the new Class A office product being delivered throughout San Antonio, but with USAA‘s decision to expand its local footprint, two of those buildings are now fully leased.
The San Antonio-based financial services company has signed leases in Vista Corporate Center and Westridge Two at La Cantera, both in the city’s northwestern submarket. Combined, the spaces will encompass about 286,400 square feet — a hefty boost for the market’s occupancy rate. USAA spokesman Matt Hartwig confirmed the two leases and their respective sizes. …Read Entire Post
HEB anchor tenant to large acquisition of retail center.
The world’s largest private equity real estate investor is about to widen its footprint in the San Antonio market by another 222,330 square feet with plans to acquire the H-E-B-anchored The Shops at Lincoln Heights center.
Blackstone is preparing to boost its San Antonio portfolio by more than 220,000 square feet with the addition of the Shops at Lincoln Heights center, which is anchored by H-E-B. …Read Entire Post
Halliburton to auction Alice facility.
After operating for more than 16 years in Alice, oilfield services giant Halliburton is moving forward with plans to auction off a shuttered facility there.
Halliburton Co. closed its 19.18-acre facility at 850 Commerce St. in Alice in March 2015, where it laid off 60 employees. The closure came during one of the bleakest periods in the crude oil price downturn when many companies were tightening their belts. …Read Entire Post
Local developer Paul Blackburn of Blackburn Properties of Texas has bought 200 acres of vacant land next to a Walmart Supercenter along Loop 1604 on the far West Side.
The land is at the southwest corner of Loop 1604 and Potranco Road, an area that has seen a lot of residential growth over the last 20 years. …Read Entire Post
Commercial real estate firm HPI has been waiting nearly 10 years for a chance to expand its San Antonio presence into the city’s industrial market. And while there have been plenty of single facilities put up for sale, the Central Texas firm wanted to go bigger. Much bigger.
So when Prologis — one of the largest industrial real estate owners and developers in the country — put 11 of its San Antonio properties on the market as a portfolio deal, HPI set its sights on it. …Read Entire Post
Flasher Equipment, a manufacturer of traffic signs, has eight properties in the Tobin Hill area near the San Antonio River. The area has been getting a lot of attention from developers lately due to the success of the Pearl and the nearby bar strip on St. Mary’s Street.
The landholder for Flasher Equipment, a manufacturer of traffic signs that operates on 6 acres of land a few blocks from the Pearl, has bought a 23-acre manufacturing facility on the West Side. …Read Entire Post
New emergency hospital coming to 1604 and NW Military.
Baptist Health System and Woodlands, Texas-based Emerus are expanding their collaboration. The two organizations have teamed up to develop a seventh emergency hospital in the Alamo City.
The newest project, which has been kept under wraps until now, is under construction at Loop 1604 and NW Military Highway in far North San Antonio. Officials with Emerus and Baptist did not disclose development costs, but they did confirm that the structure will be nearly 40,000 square feet in size and is expected to be completed before December. …Read Entire Post
Rackspace remaining in San Antonio after acquisition.
San Antonio-based Rackspace is being acquired for $4.3 billion, or $32 a share, by Apollo Global Management and affiliate investors and being taken private in a deal that will keep the company and its management team in San Antonio, according to a joint announcement made Friday morning.
The deal is expected to close in the fourth quarter this year. Rackspace’s board of directors has unanimously approved the deal and have recommended that shareholders vote in favor of the transaction. Once the deal closes, Rackspace Co-Founder and Chairman Graham Weston and other directors will step down as the board is dissolved. Apollo and its affiliate investors, including Searchlight Capital Partners, will appoint a new board of directors which could include Weston or others currently associated with Rackspace. …Read Entire Post