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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Big Sky Medical Acquires 38,370 SF Healthcare Property in San Antonio

Alamo Quarry Center

Dallas-based investment firm Big Sky Medical Real Estate recently acquired the Alamo Quarry Center from Mohr Capital who has owned the building since September of 2021.

The two-story healthcare property spans 38,370 square feet and is located in the iconic Alamo Quarry Market at 250 E Basse Road just off US Highway 281 in North Central San Antonio.

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New Mixed-Use Development Planned for Brooks City Base

Caroline at Brooks

The Brooks Development Authority, a public-private partnership with the City of San Antonio, teamed with Houston-based Morgan Group to construct Caroline at Brooks, an eight-building complex of multifamily and retail space.

Shovels are expected to hit the ground this week and the $84 million project, to go up at 7910 S New Braunfels Avenue, is slated for completion in September 2024.

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Two Schertz Industrial Properties Trade Hands

Marbella Interests recently sold a pair of fully leased industrial buildings located in Schertz, a northeast suburb of San Antonio.  The portfolio consists of two properties spanning 41,000 and 112,000 square feet that were built in 2006 and 2017, respectively.

Read entire article: CBRE Arranges Sale of 153,000 SF Industrial Portfolio Near San Antonio (REBusiness Online, 11.9.22)

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Tesla expands San Antonio footprint with 440K-SF warehouse lease

Foster Ridge 2

Tesla’s gigafactory, located along SH 130 in Southeast Austin, is having a positive impact on the San Antonio industrial market.

In addition to a 50,000-square-foot Tesla “gallery” and service center located near the San Antonio International Airport and another located on I-10 near the Dominion, the EV giant recently leased the 439,809-square-foot warehouse located at 7015 Lancer Blvd. in the Foster Ridge 2 industrial park. 

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Parkway Plaza buildings purchased by Fuller Realty Interests

Parkway Plaza

Houston-based commercial real estate investment company Fuller Realty Interests LLC recently purchased five buildings spanning 189,390 square feet in North Central San Antonio.  The office park, located adjacent to the San Antonio International Airport at 814 and 900 Arion Parkway, was originally constructed by local developer Darren Casey between 1999 and 2002.

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Big employers increasingly flexible with hybrid schedules

After COVID-19 forced all non-essential office workers to work remotely, the road back to the office has taken many directions. Some employers immediately began allowing employees to split their work time between the office and home.  Nearly three years later, many are still working on a hybrid schedule, and it appears there’s no going back.

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DPR Investments Acquires One Park Ten office project in San Antonio

One Park Ten

Locally based DPR Investments recently acquired One Park Ten, a four-building office park located at 6800 Park Ten Blvd.  The Seller was Hallandale Beach, Fla-based Accesso Partners.  DPR owner Jimmy Day said, “Spanning roughly 156,000 square feet, the buy represents a big step forward in DPR’s plans to grow a diversified real estate portfolio in San Antonio.” 

“Believing that it was the right time to acquire the right office property, we evaluated several opportunities, and One Park Ten was the clear choice,” said Day.  He immediately recognized the value of the project’s irreplaceable central location along the I-10 corridor just inside Loop 410. 

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H-E-B’s Vacant Land Across Bexar County

Locally owned grocer H-E-B commanded 52.4 percent of the San Antonio-area market in 2021, with 57 stores and a reported $4.2 billion in sales. By comparison, Walmart and its Sam’s Club chain claimed 28 percent of the market, with 34 stores and about $2.3 billion in sales.

In all, H-E-B controls at least a dozen vacant properties at significant intersections in Bexar County. Most of them are in high-growth areas on the North and West sides.

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New Entertainment Venue Coming to Wonderland of the Americas

AR’s Entertainment Hub recently announced plans to bring a new entertainment venue to the Wonderland of the Americas (formerly Crossroads Mall and originally Wonderland Mall). Plans call for a multimillion-dollar redevelopment of 58,000 square feet of vacant retail space on the upper floor.

 

Work is set to begin soon, and construction could be completed before the end of the year.

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CRE Lending Expected To See Greater Scrutiny

Commercial real estate lending volume appears to be slowing as the broader U.S. economy cools.  Earlier this month, the Federal Deposit Insurance Corp. (FDIC) signaled it would exercise greater scrutiny over banks that have significant exposure to commercial real estate loans.

The volume of commercial real estate loans held by banks recently peaked at more than $2.7 trillion, according to the FDIC.

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