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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REOC Releases 2Q 2017 Industrial Market Report

Source: REOC San Antonio

Source: REOC San Antonio

At first glance, the San Antonio Industrial market appears to have experienced a robust second quarter.  Upon closer inspection, however, the recorded 720,719 square feet of positive net absorption is somewhat misleading.  New construction delivered the Carrier Corp building (850,000 sf); the considerable gain from this one pre-leased facility concealed some sizeable vacancies. …Read Entire Post

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New Property in Schertz Finds a Buyer

Doerr LaneThe brand new property at 9850 Doerr Lane, called Schertz 1, was finished in March and then 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

Industrial Market Looking Forward to a Solid Year Ahead

1Q17_SAIndSnap.xlsAfter a vigorous performance in 2016, it seems as if the San Antonio industrial market paused in the first quarter to catch its breath.  Despite new leases and expansions, the market experienced 84,529 square feet of negative net absorption.

New supply easily outpaced demand with four projects totaling more than 323,000 square feet of industrial space delivered to the market before the end of March. The citywide vacancy rates for distribution warehouse facilities loosened to 11.0% compared to 8.4% last quarter while the vacancy rate for service center/flex properties increased to 8.9% compared to 7.6%. …Read Entire Post

City Council to consider incentives for $150 million distribution center

fb_icon_sliceNext week, the San Antonio City Council will consider incentives for a proposed 1.5 million-square-foot distribution facility for retailer T.J. Maxx.

The facility would be the company’s sixth center nationwide and its largest. San Antonio is competing against other sites in Texas and in Louisiana. TJK, the brand’s parent company, is eyeing a 200-acre site on FM 1937 — South Flores Road — south of I-410 and east of Highway 281. …Read Entire Post

Glazer’s lands buyer for Eastside facility

glazers-logoMultibillion-dollar beverage distributor Glazer’s has landed a buyer for its 111,860-square-foot industrial property in East San Antonio.

The Dallas-based company’s real estate arm, Glazers Real Estate LLC, sold the 3.68-acre property at 3030 Aniol St. to Stream Realty Partners for investment purposes. …Read Entire Post

Brooks City Base plans for 75-acre industrial park

Brooks City Base has brought on Industrial Group Southwest to develop, build and lease the first 350,000-sqaure-foot building, which will precede five others ranging from 40,000 to 600,000 square feet.

Once completed, the Brooks Business Park will span nearly 75 aces at the former South San Antonio military base. …Read Entire Post

REOC Releases 4Q 2016 Industrial Market Report

Source: REOC San Antonio/Xceligent

Source: REOC San Antonio/Xceligent

The San Antonio industrial market closed out 2016 with a healthy fourth quarter performance, totaling 323,602 square feet which raised the year-end total net gain to nearly 1.7 million square feet. Large vacancies related to frac sand storage are still expected to be staggered throughout the upcoming years but shouldn’t cause any abrupt changes to the market.

Although the concentration of oil and fracing activity is focused in the South, this sector experienced 188,844 square feet of positive net absorption – the largest amount of any sector this quarter. Even though absorption was positive, the citywide vacancy rate remained unchanged from the previous quarter at 8.3% due to the addition of offsetting new inventory. …Read Entire Post

Interstate Business Park lands new 58,000-square-foot tenant

wisenbaker_logoHouston-based Wisenbaker Builder Services Inc., a residential construction supplier, signed the deal with the park’s landlord — locally based Rio-Pas Investments Inc. — for a 58,000-square-foot space at 6903 NE Loop 410. …Read Entire Post

REOC San Antonio Releases 3Q16 Industrial Market Update

3Q16_SAIndSnap.xls

Source: REOC San Antonio/Xceligent

The San Antonio industrial market experienced a marked slowdown in the third quarter reflecting the first real impact of reduced oilfield activity in the Eagle Ford Shale. Chalk Mountain, for example, recently vacated more than 50,000 square feet of warehouse space at Alamo Downs Distribution Center. It is expected that Chalk Mountain, a leader in the oilfield services industry which specializes in the transportation management of proppant, commonly known as frac sand, will vacate several sizeable leases located throughout the market as they expire over the coming year.
Although the loss of frac sand leases could potentially dump as much as a half million square feet or so of vacant space back on the market, the impact is not expected to be dramatic because the lease expiration dates are staggered which will allow the market time to adjust and backfill. New leases and expansions recorded between the beginning of July and the end of September featured Trane Supply (62,320 sf) at Eisenhauer 35 Business Park and Wisenbaker Builder Services (58,000 sf) at Interstate Business Park – both in the dominant Northeast sector.
Still, the losses will mitigate gains as they did in the third quarter which resulted in 118,478 square feet of negative net absorption. Negative absorption is not expected to be a trend and the third quarter loss did little to lessen the healthy 1.35 million square feet of positive net gain year-to-date. The third quarter loss did, however, cause the citywide vacancy rate to increase from 7.3% last quarter to 8.3%; yet, compared to the same quarter last year, the citywide vacancy rate is improved compared to 8.9% showing the overall positive trend over the year. …Read Entire Post

Demand for space pushes EastGroup to start digging for industrial park’s second phase

Eisenhauer Point Business Park

Eisenhauer Point Business Park

When EastGroup Properties Inc. broke ground on the first phase of its Einsenhauer Point industrial development this year, shovels hit the dirt on a completely speculative basis. Roughly 10 months and two buildings later, the real estate investment trust is adding even more as a result of accelerating demand for industrial space along the I-35 corridor. …Read Entire Post