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

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More retailers jumping on the sale-leaseback train with SA locations

Academy

Academy, one of the retailers participating in recent “sale-leaseback” transactions.

There are two questions a retailer faces before opening a new location — to own or to lease — but an increasing number of them are making a new choice once those locations are up and running.

Across San Antonio, retailers such as Academy Sports + Outdoors, CVS, Family Dollar (NYSE: FDO), Walgreens and Gold’s Gym are making sale-leaseback transactions that take certain properties off their books and into the hands of single-tenant investors. …Read Entire Post

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Texas employment jumped 38,300 in September

increase_valueTexas added 38,300 net new jobs in September, leading the nation in job growth, the Texas Workforce Commission reported Friday. The state’s seasonally adjusted unemployment rate edged up to 4.8 percent in September from 4.7 percent in August. The national unemployment rate for September is 5 percent.

Texas led the nation with a 38,300 boost to payrolls, followed by a 30,000 advance in California, Bloomberg News reported, citing figures from the Labor Department. The tourism industry statewide had the largest gains with 17,900 new jobs. Professional and business services employment rose by 6,000 jobs last month. Construction employment went up for the third straight month by adding 3,400 jobs. …Read Entire Post

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City targets to annex more than 1,200 acres

Along with developers and those working in real estate, the city of San Antonio is targeting high-growth areas as part of its plan to annex more than 1,220 acres of unincorporated territory.

Starting with the U.S. Highway 281 North commercial corridor the city’s Planning Commission on Wednesday is slated to discuss the annexation of 1,224 acres along the arterial highway beginning south of Marshall Road and Northwind Boulevard in Bexar County and continuing north along Highway 281 to about 1,800 feet shy of Ancestral Trail in Comal County.

The city of San Antonio is proceeding with plans to target the annexation of five high-growth areas, which have the potential to add millions of dollars to the city’s tax base. …Read Entire Post

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Lenders shy away from commercial real estate

BankIconSmall banks reportedly are becoming reluctant to back commercial real estate as federal regulators scrutinize relaxed lending standards. The Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency have issued several warnings to commercial real estate lenders in an effort to get banks to strengthen loan terms, according to a report in The New York Times.

For small banks, commercial property loans are among some of their largest loans, so that guideline stands as a challenge. As smaller lenders move to sell off loans — and are reluctant to issue new ones — private equity funds and other institutional lenders are filling the void and moving in on the lucrative deals. …Read Entire Post

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With no bids, Halliburton property in Alice pulled from auction

Halliburton to auction Alice facility.

Halliburton fails to find buyer during auction.

With no online bidders and nobody in attendance at an on-site auction, a 19-acre property owned by Halliburton Co. in the South Texas town of Alice remains unsold.

The 850 Commerce Halliburton property in Alice, Texas, will sell to the highest bidder at auction above an opening bid of $1 million. It is a 19-building industrial complex totaling more than 103,000 square feet of space used as main office/lab, multiple shops, indoor/outdoor wash rack buildings and covered storage. It has fenced parking with a gate and guard shack. …Read Entire Post

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Children’s hospital pavilion to anchor new multistory Stone Oak development

Christus Santa Rosa begins new Stone Oak development.

Christus Santa Rosa begins new Stone Oak development.

Construction begins Tuesday on a three-story medical building in far North Central San Antonio that will give Christus Santa Rosa Health System and its Children’s Hospital of San Antonio greater brand awareness and a wider reach in the community. The 60,000-square-foot structure will be home to Christus’ new Children’s Hospital of San Antonio Health Pavilion-Stone Oak.

One of the key anchors of the pavilion will be the Children’s Hospital of San Antonio Emergency Center -Stone Oak on the first floor. The building, which will cost between $13 million and $14 million to develop, will house a variety of pediatric services and family practice groups. It will also provide new access to adult primary care and include office space for Baylor College of Medicine physicians. …Read Entire Post

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BBVA makes big move downtown, shares future plans

BBVA plans to broaden marketshare in San Antonio.

BBVA plans to broaden marketshare in San Antonio.

Andrea Smith, the local CEO and market president of BBVA Compass, has a vision for the bank’s footprint in San Antonio. And it includes consolidating nearly 80 employees, including its wealth management and commercial banking divisions, to be centrally located downtown.

BBVA Compass, a subsidiary of Alabama-based BBVA Compass Bancshares Inc., recently announced plans to invest in 9,600 square feet for retail banking space and 19,000 square feet for a corporate office inside the Weston Centre, revitalizing a ground-floor retail location that was vacated by Bank of America several years ago. …Read Entire Post

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Dollar General to open $100 million distribution center in Bexar County

dolllar generalDollar General Corp. will celebrate the completion of its $100 million distribution center in East Bexar County June 4. The 1 million-square-foot facility, at 6601 Cal Turner Drive in South Foster Industrial Park, will employ more than 530 workers including 36 manager positions, 22 clerical and 480 distribution jobs, the company said. …Read Entire Post

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Retail vacancy tumbles as population growth drives service-tenant expansions

Population growth triggering expansion of need based retail sites.

Population growth triggering expansion of need based retail sites.

Population growth, increased residential construction and strengthening employment counts have triggered expansions among necessities-based retailers across the city, prompting drops in vacancy and steady hikes for rental rates. Companies such as Wal-Mart, H-E-B, CVS and Security Service Federal Credit Union are ramping up new location development alongside a multitude of restaurant, dry cleaning, healthcare, beauty and convenience stores. …Read Entire Post

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Lone Star Brewery developers fine-tune site plan and tap Peloton for office listing

Lone Star Brewery Development plans

Lone Star Brewery Development plans

Now that the Lone Star site’s owners have brought on a development partner, plans to create the mixed-use hub the city has been waiting for are falling into place so quickly, the team has even brought on Peloton Commercial Real Estate to start building up interest for future office space at the former Southtown brewery.

Lone Star Brewery’s master plan is expected to include roughly 116,000 square feet of office space, surrounded by a mix of retail, restaurant, hotel, entertainment and multifamily. …Read Entire Post

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