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

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San Antonio Office Development Slows in Q1 2009

As Texas continues to outperform other areas of the country during the current economic recession, the fundamentals of the San Antonio economy remain relatively stable.  Unrelenting national economic concerns and a debilitating lack of capital, however, have combined to slow the commercial real estate sector in the early months of 2009.  After the surge of 1.4 million square feet of multi-tenant office space delivered in 2008, speculative construction has effectively come to a screeching halt with the exception of those projects started in 2008.

The Oaks at University Business Park (114,433 sf) was nearly complete at the end of the first quarter and will be delivered in the second quarter anchored by Community First.  The mixed-use Alon Town Center project will deliver 84,882 square feet of office space adjacent to a newly opened H-E-B grocery store and the largest office project under construction is the éilan project being developed by Wereldhave along the rapidly expanding Interstate Highway 10 corridor just north of the Loop 1604 interchange.  Éilan consists of two 110,000 square-foot towers with high-end mixed-use components to be added in the future.


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