Tag: San Antonio

San Antonio retail center changes hands to Property Commerce

Posted on by Mia Goulart

JLL Capital Markets has closed the sale of Terrell Plaza, a 107,884-square-foot retail center located in San Antonio, Texas.

JLL represented the seller, SITE Centers Corp., and Property Commerce Dividend Fund acquired the asset.

Shadow anchored by Target, Terrel Plaza was built in 1986 and renovated in 2012. The shopping center is 96% occupied with an exceptional lineup of national retailers, including Ross Dress for Less, Dollar Tree, Five Below, Popshelf, Sherwin Williams and Sports Clips, as well as a Whataburger and Valero as outparcels. Terrell Plaza is ideally located on Austin Hwy near some of the city’s most affluent neighborhoods, including Alamo Heights, Olmos Park, Terrel Hills and Oak Park – Northwood.

The demographics surrounding Terrell Plaza are outstanding. Within a three-mile radius is a population of approximately 90,128, an average household income of $110,716 and a consumer spending power of almost $10 billion. Nearby economic drivers include The Pearl Brewery and Fort Sam Houston. Additionally, the property is easily accessible to I-410, I-35 and Austin Highway.

The property features a weighted average tenure of 8.7 years and a weighted average remaining lease term of 5.6 years. Terrell Plaza presented the buyer with an opportunity for rent growth as there is very little vacant retail supply in the area.  According to CoStar and JLL Research, the Austin Highway / Broadway corridor is comprised of 1.8 million square feet of retail and is currently 97.2% leased. The corridor has remained strong over the last ten years with the low point for occupancy hit 96.6% in Q1 2021.

The JLL Retail Capital Markets team was led by Senior Managing Directors Ryan West and Chris Gerard, Senior Director John Indelli, Associate Whitney Snell and Analysts Ryan Olive and Clay Anderson.

CBRE appoints John Moake as San Antonio market leader

Posted on by Mia Goulart

CBRE has appointed John Moake as managing director and market leader for its San Antonio business, effective immediately. In this role, Moake will oversee business operations and drive the office’s growth strategy for all advisory services lines of business, including leasing, sales, valuations, project management and property management.

Moake has over 15 years of industry experience as a producer and business leader. He joined CBRE in November 2019 through the company’s acquisition of REATA Real Estate, where he was a partner. At CBRE, he most recently served as first vice president, handling project leasing and tenant representation for notable investors/developers and high-profile retailers. During his tenure at CBRE, Moake has led or participated in 230 transactions encompassing 900,000 square feet for a total consideration of $160 million.

Alongside his brokerage experience, Moake previously helped manage and grow REATA’s broker associate training program and led Birnbaum Property Company’s in-house leasing program and property management business, overseeing the management of over 1.5 million square feet of retail, industrial and office assets in greater San Antonio.

Moake is a graduate of Texas Tech University and is a member of ICSC.

Partners Real Estate arranges sale of 27,478-square-foot building in San Antonio

Posted on by Mia Goulart

Partners Real Estate, one of the largest independent commercial real estate firms in Texas, arranged the sale of a 27,478-square-foot building located at 3371 Roosevelt Avenue in San Antonio, Texas.

Partners’ Phil Crane and Dan Gostylo represented the buyer, Garcia Properties, Inc., in the transaction. The seller was represented by Andrew Price with CBRE.

Silver Star Properties shares new leasing activity in San Antonio and Dallas

Posted on by Mia Goulart

Silver Star Properties REIT, Inc. (Silver Star Properties), formerly known as Hartman Short Term Income Properties XX, Inc. has announced new leasing transactions in San Antonio and Dallas:

  1. City Oritente, Inc. Renewed 4,007 square feet at 8610 North New Braunfels in San Antonio, Texas.  In the transaction, Kaila Brodeur represented the landlord, Silver Star Properties REIT. 
  2. Foot Locker Retail, Inc. Renewed 3,484 square feet at 5486 Walzem Road in San Antonio, Texas. In the transaction, Brent St. Amant and Kaila Brodeur represented the landlord, Silver Star Properties REIT. 
  3. Pecos Construction LLC renewed 3,609 square feet at 8111 LBJ Fwy in Dallas, Texas. In the transactions, Lynna Smith and Katie Covarrubias represented the landlord, Silver Star Properties REIT. 
  • 8610 North New Braunfels, San Antonio, TX
  • 5486 Walzem Road, San Antonio, TX
  • 8111 LBJ Fwy, Dallas, TX

TradeLane Properties closes on five-building industrial portfolio across San Antonio

Posted on by Mia Goulart

TradeLane Properties, a privately held Industrial real estate investment company, has successfully closed on a five-building light industrial portfolio totaling 631,000 square feet across the San Antonio, Texas. Acquired within the TradeLane Properties U.S.

Industrial Fund II, L.P., a value-add investment fund focused on key Central U.S. logistics markets, the portfolio was constructed in 2005-2006 and was 100% leased at closing to eleven diverse customers.

The transaction, with an average building size of 126,200 square feet and a weighted average remaining lease term of under four years, is consistent with TradeLane Properties’ strategy of investing in select major Central U.S. logistics markets with opportunity to add value through in-house capabilities inclusive of dedicated accounting, construction, and property management teams.

TradeLane Properties would like to thank Trent Agnew and the JLL Capital Markets team for their assistance in this transaction.

Partners Real Estate lands industry veteran to oversee Central Texas

Posted on by Mia Goulart

Partners Real Estate, formerly known as NAI Partners, has hired commercial real estate industry veteran Steve Druth as managing director of its Austin and San Antonio offices.

In his new role, Druth will lead the day-to-day operations of the company’s Central Texas offices, and focus on growing revenue, supporting the sales team, recruiting, providing office leadership and coordinating efforts with other offices and teams. Druth will report directly to Scott Lunine.

Prior to joining Partners, Druth accumulated 35 years of experience in commercial real estate brokerage, management and sales training. A previous agent at Marcus & Millichap in both Manhattan and Miami, Druth was also president and CEO of Druth Commercial Real Estate, focusing on investment sales and leasing. In that role, he became known for his leasing/marketing expertise and the high occupancy levels in his properties.

Most recently, Mr. Druth worked at Franklin Street, where he is based out of the firm’s Tampa headquarters. In addition to his role as a broker specializing in commercial investment sales, he was an accomplished commercial real estate coach, overseeing the development of 50 high-performing agents. In this role, he focused on helping the full-service commercial real estate firm grow throughout top metropolitan markets with the best professionals performing across all lines of business.