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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REOC San Antonio releases 1Q 2013 industrial market update

Source: REOC San Antonio / Xceligent

Source: REOC San Antonio / Xceligent

The San Antonio industrial market demonstrated another strong performance in the first quarter of 2013.  New leases and expansions generated 318,855 square feet of positive net absorption which tightened the citywide vacancy rate to 9.1% and supported slight increases in asking rental rates.  Healthy gains were recorded in both the Service Center/Flex and Distribution Warehouse markets.  Growing out of space at their 5-million-square-foot campus, USAA – San Antonio’s largest private-sector employer – took down 128,354 square feet of Flex space at University Park Tech Center III & IV to accommodate the recently announced intended addition of 1,000 employees. 

The local market appears poised for the next development cycle in order to keep up with continued demand.  Two projects are currently underway including Building 3 (66,170 sf) at the Thousand Oaks Business Center in the North Central sector and the Amazon.com Fulfillment Center (1.2 msf) in Verde Enterprise Business Park situated in the Northeast sector.  

The Energy sector continues to be a major economic driver behind much of the growth and activity in the local industrial market including two new projects.  Nexolon America, producer of high-efficiency solar panels, recently broke ground on their new headquarters/manufacturing plant at Brooks City-Base on the city’s southeast side.  In addition, two new rail parks are slated for development in Southeast Bexar County.  Frontier Logistics and Frac Resources announced plans to develop Mission Rail Park (1,000 acres) and National Property Holdings announced plans to develop Alamo Junction Rail Park (400 acres) – both designed to serve the region’s growing demand for rail-based logistics.

Click to download the 1Q Industrial Market Report and read the related article:  Industrial projects flowing in San Antonio, thanks to Eagle Ford Shale (San Antonio Business Journal, 5-10-13)

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