Category: Central/South Texas News DO NOT USE

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.

Posted on by Sarah

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.

The Modern Austin Receives Financing and Site Development Permit in Same Week

Posted on by Sarah

AUSTIN, Texas–(BUSINESS WIRE)–This past week marked two significant milestones for Austin-based firm Urbanspace Real Estate + Interiors’ 56-story condo tower, The Modern Austin Residences, located at 610 Davis St, Austin, TX. The Modern has closed on construction financing and has a site development permit in hand, the two final milestones needed for this development to proceed.

Kevin Burns, founder of local real estate and design firm Urbanspace, will develop the project with $300+ million of financing from Peregren Capital Group. Although this deal marks Peregren’s first construction financing in Austin, co-founder and Managing Partner Tucker Hughes financed multiple condo deals in Austin prior to launching Peregren with co-founder Tripp Taylor. Two of these high-profile projects include The Seaholm Residences and The Independent, each of which was sold by Urbanspace as the exclusive sales and marketing team. Hughes commented, “Kevin and the Urbanspace team know the Austin condo market better than anyone, and after working with them on Seaholm and The Independent, I was excited for the opportunity to partner with them in a bigger way on The Modern. The design, lifestyle, location, and views coupled with the experienced team that Urbanspace has assembled make it a dream build for every future resident that will call The Modern home.” Click to read more at www.businesswire.com.

Embrey Closes Sale in San Antonio, Texas, of Luxury Multifamily Property Standard at Legacy

Posted on by Sarah

SAN ANTONIO, Dec. 16, 2021 /PRNewswire/ — Standard at Legacy, a 323-unit multifamily community in desirable north San Antonio, has been sold by Embrey Partners LLC.

The purchase was made by Sherman Residential and brokered by Newmark.

“This is a best-in-class community in a premier location with easy access to Highway 281 and Loop 1604,” said John Kirk, Managing Director and Executive Vice President for Embrey. “Standard at Legacy supports the active lifestyles of today’s rising professional with a wide range of residential amenities and easy access to the high-end dining, shopping and employers in the area.”

Amenities include a cyber lounge with workspaces and conference room, fitness center equipped with a yoga and virtual fitness studio, golf simulator, an outdoor living area with kitchen and games, and an indulgent pool with cabanas. A pet spa and dog park are also available for furry companions. Click to read more at www.prnewswire.com.