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

Got a Commercial Real Estate Need or Question?


Ask One of Our Trusted Advisors

Big V Property Group Acquires The Rim Shopping Center

Charlotte-based retail owner-operator Big V Property Group recently acquired The RIM Shopping Center, a 1 million-square-foot retail and restaurant destination with over 100 tenants.

Big V acquired the property, which is part of a larger mixed-use development, in partnership with New York-based Kimco Realty and San Diego-based Equity Street Capital. Big V will also manage the property which is located at 17703 La Cantera Pkwy in Northwest San Antonio. …Read Entire Post

Share

Converse to get its first professional office park

Converse Town Center

The City of Converse Economic Development Corp. recently sold two parcels in the city’s center, which will be developed into Converse Town Center, a collection of four single-story office buildings totaling 29,000 square feet.
The project, which is a collaboration between five local partners, will be located at 301 Converse Center Street. …Read Entire Post

Share

Local market update from Broadway Bank

The headwinds caused by COVID-19 and the related shutdowns of various segments of the national economy has impacted the local real estate market, including skyrocketing lumber prices and other related construction costs, manufacturing delays, a slowdown in municipal approvals, changing consumer habits, record homebuilding starts and closings as well as shifting construction priorities by developers.

Supply challenges continue to escalate; however, builders are adapting by placing orders early in advance and being flexible with substitution products.  Not as easy to adapt to is the rising cost of lumber.  For example, the spot market for random length lumber ($/1,000 board feet) increased from $354 in June 2020 to $975 in February 2021. …Read Entire Post

Share

Developer breaks ground on Four Oaks Distribution Center in Schertz

Four Oaks Dist Ctr

Phelan-Bennett Development and equity partner, Rosewood Property Company, recently broke ground on the Four Oaks Distribution Center, a class-A 170,000-square-foot speculative industrial development on 9.5 acres in Schertz, just outside San Antonio. Construction is expected to last nine months with a tentative completion date in fourth quarter 2021. …Read Entire Post

Share

Personal income increased amid pandemic

According to the latest report released by the U.S. Bureau of Economic Analysis (BEA), personal income in Texas increased 5.1 percent in 2020. 

Last year, the state’s per capita personal income increased to $54,841 from $52,829 in 2019.  

…Read Entire Post

Share

Good news for shopping center owners looking for refinancing: Lenders are returning

Retail real estate borrowers with loans maturing, even some who had refinancing committed, saw lenders’ doors slam shut last year. “You didn’t know what tenants were going to survive, flourish or have to move out, and you didn’t know which ones were going to be able to pay rent or need some assistance,” said NorthMarq Dallas managing director and senior vice president of debt and equity Ron Reese. Now lenders are returning to the market.

Financing for all but best-in-class, grocery-anchored centers and credit tenant, net lease properties froze for a good three to four months last year. “The retail deals we were transacting on we couldn’t close because we couldn’t deliver estoppels that said tenants were paying rent, and tenants didn’t know what their future looked like,” said Reese. However, the market began to thaw late in the third quarter, and more lenders are continuing to trickle back.

…Read Entire Post

Share

Fourteen retailers expanding in 2021

Not all retailers are downsizing their physical assets in the wake of the pandemic. So far this year, retailers in the U.S. have announced 3,199 store openings and 2,548 closures.

In 2019, retailers announced 4,548 openings, up from 3,747 in 2018. The good news: To date in 2021, openings are already tracking to top each year prior.

…Read Entire Post

Share

CRE’s Pricing Disconnect

There is a disconnect in the public and private markets and across sectors.  Some small disconnect isn’t anything new but there’s been a significant repricing on public assets since COVID while valuations on the private side didn’t moved as much, especially earlier in 2020.  That said, the positive vaccine news increased valuations by the end last year which has closed some of the gap between the private market and the public market.

But the divergence in pricing across sectors remains. Retail properties, for example, have been hardest hit.  Retail sees the immediate link between the revenue a tenant makes in a store and the rent it pays for that store space.  Meanwhile, Industrial properties have continued to be very strong and even accelerated in some markets.

…Read Entire Post

Share

CPS Energy sells 146 Navarro for $22M

CPS Energy recently sold its Navarro Building to Los Angeles-based BH Properties for $22.3 million.  The building and garage, located at 146 Navarro St., is situated across the street from its former headquarters at 145 Navarro.

Built as a seven-story parking garage for HemisFair ’68, CPS Energy has been the building’s sole occupant since the event, adding three stories of office space above the garage in 1987.

…Read Entire Post

Share

New office space in Alamo Heights at 200 Austin Hwy

200 Austin Hwy

Locally-based, Ridgemont Properties Inc. recently delivered 200 Austin Highway in Alamo Heights.  The 28,000-square-foot office development is aimed to attract local small businesses with three completed spec suites.

…Read Entire Post

Share