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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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CPS Selling Mid-Town Jones Tract

326 W Jones

CPS Energy, San Antonio’s municipal electric utility, is marketing its 7-acres at 326 West Jones Ave. which includes a partially deconstructed office and light industrial facility.

The property sits on the other side of IH-35 from The Pearl and neighbors the San Antonio Museum of Art and the River Walk. One acre has reportedly been conveyed to the museum, but the remaining six acres are being marketed for sale.

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San Antonio Makes Top 10 on WalletHub’s 2022 Best Summer Destinations List

Just in time for summer travel, WalletHub released its list of Best Summer Travel Destinations.  The personal finance website compared 100 of the most populated metro areas across 43 key indicators and concluded that the San Antonio-New Braunfels metro was among the top 10 places offering the best bang for the buck.

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Methodist Hospital-Landmark to replace Forest Park Medical

5510 Presidio Pkwy

The former Forest Park Medical Center located at 5510 Presidio Parkway is getting a new lease on life courtesy of Methodist Healthcare.  After acquiring the real estate in 2018, Methodist recently announced plans to invest more than $50 million to redevelop the shuttered facility into Methodist Hospital-Landmark – a new community hospital that will house roughly 50 beds and emergency facilities.

Although plans are not final, the hospital is expected to be operational by 2023. The new hospital will be part of an expanding mixed-use development that includes Methodist’s headquarters. …Read Entire Post

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Two New Medical Office Buildings Coming to Ridgewood Plaza

Ridgewood Plaza

Two new medical office buildings are slated for development in the Ridgewood Plaza business park in Far North Central San Antonio. Construction is slated to begin in early June and is expected to be complete by February 2023.

WellMed will occupy 18,000 square feet to fill the first building will share the lot with the existing TSAOG Orthopedic and Spine Ridgewood Orthopedic Center located at 19138 US Hwy 281 N. …Read Entire Post

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McCombs Acquires Iconic Tower Life Building

Tower Life Building

Local businessman and philanthropist, Red McCombs, along with two other investors, recently acquired the iconic Tower Life Building located in downtown San Antonio at 310 S. St. Mary’s St.

The 31-story landmark is known for its eight stone gargoyles and conical clay tile roof. The building opened just before the 1929 stock market crash and the Great Depression.  It was placed on the National Register of Historic Places in 1991. …Read Entire Post

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EVO heads to South Park Mall

Evo Entertainment Group is expanding its footprint in the San Antonio market.  The Austin-based company, one of the nation’s largest operators of cinema-entertainment centers, plans to develop a new venue at San Antonio’s South Park Mall on Southwest Military Drive.

EVO Entertainment South Park will feature 12 screens, dine-in cinema service with luxury recliner seating, a scratch kitchen and bar and other entertainment offerings, including a video and redemption arcade, 14 bowling lanes, virtual reality experiences and bumper cars. …Read Entire Post

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Core5 Purchase

Courtesy Core5

Atlanta-based Core5 Industrial Partners recently acquired 164 acres in Schertz, a northeastern suburb of San Antonio.

Plans call for the development of a 1.8 million-square-foot industrial project. Construction of Phase I, which will comprise two buildings totaling roughly 1 million square feet, is set to begin later this year.

Read entire article: Core5 Industrial to Develop 1.8 MSF Project in Schertz, Texas (REBusiness Online, 5.2.22)

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VanTrust Set to Break Ground on Cornerstone Commerce Center

Cornerstone Commerce Center

Kansas City, MO-based VanTrust Real Estate, LLC recently acquired one of the last sites in the Cornerstone industrial area situated in the northeast quadrant of the Loop 410 & IH-10 Interchange in Northeast San Antonio.

VanTrust is set to break ground on Cornerstone Commerce Center Phase I later this summer.  The 60-acre site is located less than half a mile north of the intersection of IH-10 and Ackerman Road, with direct access to Ackerman.

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8555 NE Loop 410 trades to Houston firm

8555 NE Loop 410

Houston-based investment firm TRECAP Management recently acquired a 40,800-square-foot industrial building located at 8555 NE Loop 410 in San Antonio. The Seller was EJ Morales III Holdings.

The property, built in 1986, sits on 2.09 acres on the city’s east side in 1986. The facility was 30 percent leased at the time of sale.

Read entire article: Colliers Brokers Sale of 40,800 SF Industrial Building in San Antonio (REBusiness Online, 4.14.22)

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Joint Venture acquires Legacy Oaks Medical Complex

Legacy Oaks Medical Complex

Dallas-based private equity firm Velocis recently sold The Legacy Oaks Medical Complex to a joint venture between Altera Fund Advisors and Harrison Street.

Tenants occupying the 227,627-square-foot project include a mix of primary care, pediatrics, rheumatology, ophthalmology, optometry, radiology, pain management and outpatient rehabilitation users. …Read Entire Post

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