Where Does the San Antonio Retail Market Stand One Year into the Pandemic?

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April 13, 2021  •  Issue 1,119

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CA Industrial to Build 200,000 SF Logistics Facility in Dallas

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Pictured is a rendering of CA Industrial's new 200,000-square-foot logistics center in Dallas. The project is expected to be complete in the second half of 2022.

DALLAS — CA Industrial, a subsidiary of Chicago-based development and investment firm CA Ventures, will build a 200,000-square-foot logistics and last-mile delivery facility in the Great Southwest submarket of Dallas.

The project, which will be branded 2700 Avenue K, will feature 36-foot clear heights, 33 dock doors, 190-foot truck court depths and abundant trailer parking. Construction is expected to begin this summer and to be complete in the second half of 2022.

Stream Realty Partners represented CA Industrial in its acquisition of the land and will also handle leasing of the facility upon completion.

Pearlstone, ATCO to Develop 284-Unit Multifamily Project in Austin

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Construction of the East Tower, a 284-unit project in Austin's Rainey Street District, is expected to be complete in early 2024.

AUSTIN, TEXAS — A partnership between Austin-based Pearlstone Properties and New York-based ATCO Properties & Management will develop The East Tower, a 284-unit multifamily project that will be located in Austin’s historic Rainey Street District.

The 41-story building will offer an average unit size of 975 square feet, with 10 units being reserved for households earning up to 80 percent of the area median income. Amenities will include a rooftop clubhouse, pool, outdoor kitchen, fitness center, dog park and coworking space.

STG Design is the project architect, and McCray & Co. is the interior designer. Wuest Group is the civil engineer, and AECOM Hunt is the general contractor. Construction is expected to begin over the summer and to be complete in the first quarter of 2024.

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JLL Arranges $48.5M in Financing for Industrial Portfolio in Dallas, San Antonio

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Pictured is Surlean Foods' facility in San Antonio, which also serves as its headquarters.

DALLAS AND SAN ANTONIO — JLL has arranged $48.5 million in financing for a four-building, 505,719-square-foot industrial portfolio that includes cold storage space in Dallas and San Antonio.

The portfolio includes two net-leased assets in infill submarkets at 3551 Dan Morton Drive in Dallas and 2001 S. Laredo St. in San Antonio that were acquired in January in a sale-leaseback with custom food manufacturer Surlean Foods.

Christopher Drew, Maxx Carney, Reid Carleton, Jeremy Womack and Jarrod McCabe of JLL arranged the three-year, floating-rate loan on behalf of the borrower, MDH Partners. An undisclosed local bank provided the funds.

TexAmericas Center Completes Remediation of 6,800 Acres in Texarkana, Texas

TEXARKANA, TEXAS — TexAmericas Center (TAC) has completed the remediation of 6,800 acres in Texarkana, located near the Texas-Arkansas border, to meet standards for commercial and industrial development.

The Texas Commission on Environmental Quality recently removed the U.S. Army’s Resource Conservation and Recovery Act (RCRA) permit from the property, thus opening up the acreage for development.

The land is a portion of the former Lone Star Army Ammunition plant. Remediation efforts began in 2010, and in recent years, TAC and its partners have invested more than $40 million in remediation activities and improved infrastructure to advance job and capital creation in the region.

TAC is an owner-operator of one of the country’s largest industrial parks, with roughly 12,000 development-ready acres and 3.5 million square feet of commercial and industrial product serving four states.

Signorelli Reveals Updated Plans for 200-Acre Medical District in Metro Houston

NEW CANEY, TEXAS — Locally based developer Signorelli Co. has revealed updated site plans for the Valley Ranch Medical District, a 200-acre campus within the firm’s Valley Ranch master-planned community located northeast of Houston in New Caney.

Valley Ranch Medical District will consist of a 25-acre regional hospital with over 250 beds, a 13.7-acre medical school campus and a 21-acre medical research facility. A day surgery, pediatric clinic and approximately 28 acres devoted to medical offices will be included as well.

The development will also include retail, restaurants and academic buildings. The detention and drainage for the entire development is scheduled to be complete in the next 120 days with site work for streets and utilities to follow immediately.

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Have you read the March issue?

Mixed-Use Settings Bolster Office Prospects
A flight to newer, smaller buildings surrounded by other uses could headline the office sector’s recovery in the short term


Wave of Distressed Real Estate Assets Builds

At this point in time, the critical question to ask as an investor is, “Am I prepared?”

Industrial Landlords: Beware of Higher Property Tax Assessments
Find out why not all industrial properties deserve increased tax assessments, contrary to popular belief. 

Supply of Affordable Housing Plays Catch-up with Demand
Dramatic job and population growth in Texas and insufficient subsidies ensure that the former will lag the latter for the foreseeable future.

Plus Highlights on the San Antonio Retail, Multifamily and Industrial Markets

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Where Does the San Antonio Retail Market Stand One Year into the Pandemic?

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Pictured is a newly constructed restaurant space occupied by Olive Garden at Live Oak Town Center, a center anchored by IKEA that is being built in phases. Relative to some markets, restaurant leasing activity in San Antonio has held steady over the past year.

 

By David Nicolson, president, Weitzman San Antonio 

In March 2020, health officials first used the term “pandemic” in reference to COVID-19. Since then, our communities, economy, commercial real estate industry and retailers and restaurants have gone through a year of challenges that few could have foreseen at the start of 2020.


The fact that today we are in better shape than we could have predicted during the shutdown a year ago shows that the disruptions caused by the pandemic have been met with innovation, creativity and plain hard work.


Here in San Antonio, those disruptions did result in a number of retail and restaurant closings. But since the second half of 2020, we’ve seen an upswing in tenant demand.

In terms of closings, Sears closed its 150,000-square-foot store at South Park Mall and its approximately 134,000-square-foot store at Rolling Oaks Mall. With these store closings, Sears — once the nation’s largest retailer — no longer has a presence in the San Antonio market. <read the full story>

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In Case You Missed It

Evaluating the Volume of Distressed Properties in the Wake of COVID

Phelan-Bennett, Rosewood Begin Work on 170,000 SF Spec Industrial Project in Schertz, Texas

Marcus & Millichap Brokers Sale of 320-Unit Self-Storage Facility in Huntsville, Texas

Greystar Opens 152-Unit Ellison Heights Apartment Community in Houston

Signorelli Underway on 269-Unit Gregory Apartments in Metro Houston

DWG Capital Partners Acquires Texas Industrial Property in Sale-Leaseback Transaction

Gulf Relay Signs 350,150 SF Industrial Lease in South Dallas

BGL Brokers Sale of 39,814 SF Healthcare Portfolio in Tyler, Texarkana

 

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