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

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REOC Releases 2Q 2017 Office Market Report

Source: REOC San Antonio

Source: REOC San Antonio

The San Antonio office market continued steadily on its positive trend in the second quarter accompanied by the delivery of 389,369 square feet of new office lease space.  The much anticipated Landmark One building (164,351 sf) came online at the intersection of Loop 1604 & IH-10 in the North West submarket with two signed tenants – Chicago Title (8,295 sf) and Forge Energy (14,402 sf). …Read Entire Post

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USAA buys Bank of America Plaza

USAA purchases Bank of America Plaza.

USAA purchases Bank of America Plaza.

The deal closed on Monday; while the sales price was not disclosed, the building was last appraised by Bexar County for $88 million.

The 28-story tower at 300 Convent St. was last owned by two real estate investment companies: Talcott Realty Investors of Hartford, Connecticut, and Clarion Partners of New York. …Read Entire Post

New office park arrives in Boerne

The finishing touches are being put on Seven Oaks Professional Office Park, a new 32,500 square-foot Class A office project in Boerne.

The complex has been advertised to companies looking for professional office and medical space. So far, the property already has a few tenants signed up, including a chiropractic firm, a dentist office, a swimming school, a day care facility and a surgery center. …Read Entire Post

Office project breaks ground in New Braunfels

Ground broke this week on the first phase of Sundance Plaza, a 120,000-square foot Class A office development in New Braunfels. This first phase, which will be a 58,574 square foot office building, is set to be completed in the first quarter of 2018.

The 10 acres of land Sundance Plaza will sit on is just a portion of a larger master-planned mixed-use project called Sundance Park, which will be centralized at 2049 Sundance Parkway — less than a mile from the bustling Interstate 35. …Read Entire Post

Dallas-based real estate firm buys medical office complex

Velocis, a Dallas-based private equity real estate manager, has purchased a 224,262 square foot medical office complex adjacent to the South Texas Medical Center.

The seven-building Class A complex Legacy Oaks recently underwent extensive capital improvements. It is currently 75 percent leased by a mix of health care providers. Tenants include Baptist Health System, MEDNAX, BB&T, and the Center for Healthcare Services. …Read Entire Post

New Class A Business Park coming to North Loop 1604

Pinnacle Oaks, a new $100 million, 450,000-square-foot business park, will break ground on its first phase in August, according to co-developers ALC-Partners and Pruitt Realty.

The four-phase master plan will cover 21 acres and consist of three Class A office buildings and a flex office at 4830 N. Loop 1604 W., which is being called the Pinnacle Oaks Tech Center. The 80,532-square-foot, single-story tech center will be the first phase of the project. …Read Entire Post

Harris Bay to buy downtown San Antonio building

commerce_buildingReal estate investment firm Harris Bay is under contract to buy the Commerce Building in downtown San Antonio and move its Texas office there, the firm announced Wednesday.

Though the sale price was not disclosed, Bexar County’s latest appraisal of the 40,000 square foot, eight-story building at 314 E. Commerce St. was $2.875 million. …Read Entire Post

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

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