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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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

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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

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

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

San Antonio Office Market Attracts Big Name Tenants

1Q17_SAOfcSnap.xlsNew office construction in the San Antonio area delivered three new multi-tenant buildings totaling 140,733 square feet in the first quarter. Gross leasing activity within office lease space translated into 234,545 square feet of positive net absorption marking a healthy start for the new year.

With demand outpacing new supply, the citywide vacancy rate improved to 18.0% compared to 18.5% last quarter. The vacancy is up, however, compared to 17.5% recorded a year ago. The over-the-year increase is primarily due to the addition of the more than 900,000 square feet of new office lease space delivered in 2015 which, as a group, came online at below market occupancy and continues to move through the lease-up process. …Read Entire Post