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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Methodist Plaza II gets underway at Northeast/Live Oak Campus

Methodist Plaza II

Methodist Healthcare recently broke ground on a second medical office building at its Live Oak campus.  The expansion of Methodist Hospital Northeast introduced Methodist Plaza II, a three-story building to span more than 73,000 square feet.
Methodist Plaza II will house a hospital-based outpatient surgery center featuring five operating rooms. 

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Boerne Town Center Coming Soon

Boerne Town Center

Abiso Real Estate Services LLC announced plans for Boerne Town Center – a new retail project to be located at the northeast corner of IH-10 W at Christus Parkway.

Plan calls for four small retail buildings, each spanning roughly 5,000 sf and offering a mix of retail and restaurant space for the likes of MOD Pizza, McAllister’s Deli and Chicken Salad Chick.

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Rising Interest Rates’ Effect on CRE

In June 2022, the Fed increased interest rates by 75 basis points – its largest move since 1994, noting that inflation is the highest it’s been since the early 1980s.  The target federal funds range 1.5% to 1.75%, and the Fed anticipates more increases.

By gradually raising rates, the Fed is trying to get a handle on inflation and slowly pull some of the excess liquidity out of the economy.

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VP Racing Fuels begins renovations of The Financial Center to create new HQ

VP Racing Fuels recently began renovations of the office building located at 10205 Oasis, commonly known as The Financial Center. 

The 30,000-sf building will not only serve as its new headquarters for its current staff of 45 employees, but it will also accommodate anticipated growth. 

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New Office Tower Planned for Port San Antonio

Port San Antonio – DeLorean Tower

Port San Antonio (fka Kelly AFB) recently announced plans that will reshape the look and feel of the former military base.  The centerpiece of the plan is a 300,000-square-foot high-rise office tower which would serve as the new corporate headquarters for DeLorean Motor Co.

Construction on the office tower could begin before the end of the year at a cost of approximately $18.5M; and the goal is to reach completion early in 2025.

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Make Room for 80K More Households by 2026

According to a report published by housing market researcher Zonda, the Alamo City could grow by 80,000 households by 2026.

Between 18,000-19,000 new arrivals are expected each year over the next four years based on the strong domestic migration experienced throughout the area.  This growth coupled with demand from locals looking at purchasing their first home, is expected to continue to drive new home construction.

Read entire article: REPORT: 80,000 more households in San Antonio by 2026 (San Antonio Business Journal, 5.26.22)

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San Antonio-New Braunfels Lead Population Gains

Continuing a familiar trend over the past two decades, San Antonio and New Braunfels again ranked high on the Census Bureau’s latest list of population growth.

States like Texas, Arizona and Florida dominate the Census Bureau’s list issued May 26th.  The 15 fastest-growing cities are all in the South and West.

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Koontz Corp. Breaks Ground on Westport Industrial Park

Westport Industrial Park

Locally based developer Koontz Corp. recently broke ground on Westport Industrial Park, a 374,400-square-foot project in San Antonio located at 438 S. Callaghan Road on the city’s West side.

Koontz Corp. is developing Westport Industrial Park in phases, with the first of the two 187,200-square-foot buildings set to be delivered in February 2023.

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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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