Category: Central/South Texas Market Reports

Newmark Announces Sale of Newly Constructed, Federally-Occupied Medical Asset in San Antonio

Posted on by Sarah

San Antonio, TX (Dec. 27, 2021) — Newmark announces the sale of the San Antonio Community Based Outpatient Clinic, a Class A, built-to-suit, federally occupied building located at 9939 State Highway 151 in San Antonio, Texas. The newly completed, 226,148-square-foot property is 100% leased to the Department of Veterans Affairs (“VA”) on a long-term basis.

Newmark Vice Chairmen Gary Carr, Robert Hill and Chris Murphy represented the seller, US Federal Properties Co. (USFP).

Designed to achieve Green Globe certification, the three-story, best-in-class medical asset features modern design, efficient floor plans and abundant on-site parking. The outpatient center is ideally situated between Loop 1604 and Interstate 410 in Northwest San Antonio.

“The new San Antonio VA clinic will serve the community at a centralized location, consolidating existing services from multiple clinics. The location in an expanding and developing area with access to major employment centers made this an ideal location for the VA’s new center,” said Carr. “We look forward to seeing this asset and the community it serves flourish.”

The property is proximate to three licensed hospitals and two planned hospital development sites. With one of the largest concentrations of military bases in the U.S. —Fort Sam Houston, Lackland Air Force Base and Randolph Air Force Base are all within 30 minutes—San Antonio is known as “Military City USA.”

The San Antonio Community Based Outpatient Center is part of a 10-building portfolio comprising nine community-based outpatient centers and one mental health clinic, located across the U.S.

Merit Commercial Real Estate Sees Room for Growth in San Antonio Office Market

Posted on by Sarah

SAN ANTONIO, Dec. 22, 2021 /PRNewswire/ — On November 30, Merit Commercial Real Estate closed on the acquisition of University Park Tech Center I & II, a two-building office project containing approximately 200,000 square feet. Clarion Partners, a New York-based real estate investor was the seller. The acquisition represents Merit’s first substantial investment in the San Antonio office market.

“The San Antonio office market has remained exceptionally strong by comparison to other major cities”, noted Ryan Harrison, CEO of Merit Commercial Real Estate. “We saw strong demand for this type of building in the northwest submarket from the tenants we represent, which led us to this acquisition”, stated Mike Sawtelle, EVP tenant representation broker for Merit and long-time mover-and-shaker in the San Antonio office market.

Many Fortune 500 companies across the country had plans to bring their workforce back into the office this fall, only to postpone those plans. Now, major cities are seeing companies change strategies and implement a hybrid or fully remote style of working. In contrast, the majority of San Antonio companies have seen continued interest in returning to the workplace. Click to read more at www.inforney.com.

Bowman Expands Texas Operations Through Acquisition of Houston and San Antonio Based Terra Associates, Inc.

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Bowman Consulting Group Ltd. (the “Company” or “Bowman”) (NASDAQ: BWMN), today announced it had entered into a definitive purchase agreement for the acquisition of Terra Associates, Inc. (“Terra”). Closing is scheduled to occur on December 31, 2021, subject to customary closing conditions. Headquartered in Houston, Texas, Terra delivers civil design and engineering solutions to clients focused on traffic and transportation planning, water-wastewater solutions, landscape and irrigation systems, office and industrial facilities, and multi-family development. Under the continuing leadership of Vickie Henkel, Terra’s staff of 30+ professionals work from offices in Houston and San Antonio for both public and private sector clients. In connection with their water-wastewater practice, Terra serves in the role of District Engineer for several Texas-based Municipal Utility Districts (MUDs).

“Terra is a company with a forty-year heritage of serving eastern Texas,” said Gary Bowman, CEO of Bowman. “The leadership of Terra has surrounded themselves with a team of committed and energetic professionals who will all be great additions to Bowman. We have been intent on growing our Texas operations and this acquisition, following closely on the heels of our acquisition of 1519 Surveying, fortifies Bowman’s presence in the Lone Star state. Terra’s experience in commercial site work, transportation design and utility district services are highly complementary to our portfolio of services and align with our growth plans and evolving market demand. I am pleased to welcome everyone at Terra to Bowman and I am excited about the potential for our future together.”

“Choosing to join Bowman was an easy decision,” said Vickie Henkel, CEO of Terra. “Bowman’s approach to growth is very exciting to all of us at Terra. We’ve gotten to know the leadership at Bowman over the course of the acquisition process and we all feel very comfortable with the decision. Their commitment to helping our leadership and staff grow without changing the core of who we are is a big part of what makes us excited about this opportunity. The opportunity to be a part of an entrepreneurial public company is both exciting and energizing. We are all looking forward to the future as a Bowman company.” Click to read more at www.valdostadailytimes.com.

Amazon Plans to Hire 2,000 Workers for Austin Tech Hub, Plans Major Expansion

Posted on by Sarah

SAN ANTONIO – Amazon’s presence in the Austin tech world is about to grow by hundreds of employees and thousands of square feet.

The e-commerce giant on Tuesday announced that it will add more than 2,000 corporate and tech jobs in the Central Texas city over the next few years.

The company has also signed a lease for 330,000 square feet of office space at a new building at The Domain, according to a news release. That space is expected to open in 2024.

The additions will add to Amazon’s current footprint of 3,000 tech and corporate employees in Austin and three existing offices at The Domain.

The release states the new jobs will land in the departments of operations technology, Amazon Retail, Amazon Business and Amazon Web Services. Positions include senior data engineers, senior technical program managers, user experience designers and financial analysts.

“Our continued investment in Austin is a testament to the amazing talent and amenities that this city has to offer,” Doug Gray, site lead for Amazon’s Austin Tech Hub, said in the release. “With more than 3,000 jobs already created and more than 1,000 corporate and technology roles currently available, we’re looking forward to continue offering exciting career opportunities to local residents.” Click to read more at www.ksat.com.

Planning for 19-Acre Lakeshore Development in Downtown Austin Moves on Into 2022

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Initial plans for the transformation of the “Statesman PUD” site that could bring a new landmark development to the south shore of Lady Bird Lake are progressing and could be finalized in early 2022.

The 305 S. Congress Ave. planned unit development, or PUD, is home to the Austin American-Statesman building, a portion of the Ann and Roy Butler Hike and Bike Trail, and an unofficial viewing area for nightly bat flights from the Congress Avenue bridge. The redevelopment of the property appraised at more than $74 million has been in the works for years and plans now center on bringing more than 3.6 million square feet of residential, hotel, office, retail and restaurant space to the lakeshore.

A Dec. 14 decision by the Austin Planning Commission pushed its formal vote on the PUD update to late January when the body could approve the project outline and send it to City Council for consideration. Click to read more at www.communityimpact.com.

Next up for RGVP’s Commercial & Investment Tour: Weslaco

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The next leg in the Rio Grande Valley Partnership’s tour highlighting investment opportunities in the region focuses on Weslaco.

Panel discussions with Weslaco leaders and a bus tour of the city will take place on Thursday, Dec. 2, 2021.

“We have got a lot of great sites to show those on the tour but we are going to do things a little differently,” said Steve Valdez, executive director of Weslaco Economic Development Corporation.

“There have been some elements to Weslaco that have been a setback. For example, we have had publicity over the flooding. So we will have our city engineer talk about all the plans we have going on in terms of mitigating the flooding.”

The RGVP calls its monthly visits to the Valley’s various cities the Commercial & Investment Tour. Among those attracted to the tours are real estate agents, land developers, and investors. They learn about retail and industrial sites that are primed for development.

Valdez said Weslaco plans to host a panel-style discussion before the bus tour.

“We will have some city officials, we will have some developers and then, we are opening up a new industrial park so we will have some industry leaders there as well,” he said. Click to read more at www.riograndeguardian.com.