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Commercial Forecast for 2014
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WHERE ARE WE HEADED?????
•Multi-Family
•Office
•Retail
•Industrial
MULTI-FAMILY 7.3% Vacancy Rate
$0.97 psf Rents
Demand
Absorption (4168 units)
Occupancy (-0.46%)
Rental Rates (3%)
Fairdale
Apartments-
202 units
Oakdell Way
Townhomes-
100 units
Carrington
Place-172
units
Portfino
Apartments-
272 units
17 properties
1135 units
• Peanut Factory Lofts S. Frio 90 units
• Elan Riverwalk Cesar Chavez 350 units
• Big Tex Blue Star 320 units
• Urban Crest Harry Wurzbach 208 units
• Park at West Ave West Ave 360 units
• Brackenridge @ Midtown 282 units
• Legacy Brooks Pickwell 412 units
Office 18.8% Vacancy Rate
$19.59 psf Rents
Demand
Absorption (334,080 sft)
Occupancy (2.1%)
Rental Rates (1.8%)
Spectrum
Building
(173,818 sq ft)
Buyer: Pace
Properties
One Riverwalk
(261,431 sq ft)
Buyer: US Real
Estate LP
Northwest
Center
(241,405 sq ft)
Buyer:
Westdale
Capital
Eilan
(205,251 sq
ft)
Buyer: Lone
Star Funds
816 Cameron
109,606 sf 8122 Datapoint
190,819 sf
Fourwinds Dr
80,536 sf Tesoro Dr
234,288 sf
• 87,000 sft Scooter Store
• 42,293 sft IBC Centre I
• 35,644 sft Brooks City Base
• 35,603 sft Bakery on Broadway
• 38,385 sft Fountainhead Tower
Lockhill Crossing
25,325 sf
Westridge One at La Cantera
128,700 sf
RETAIL 10.7 % Vacancy
$16.23 psf NNN Rent
Demand
Absorption (263,583 sft)
Occupancy (1.1%)
Rental Rates (2.8%)
San Pedro
Crossing
(207,120 ft)
Buyer: ARC
SP San TX
Stone
Ridge
Market
(218,436sf)
Buyer:
Inland
American
Camelot Plaza
(91,267 sf)
Buyer: LG
Acquisitions
LLC
Culebra
Market
(38812 sf)
Buyer:
USAA
9200 Broadway
60,000 sft
Dezavala Oaks
21,908 sft
54,318 sft Former Target
48,633 sft Westover Mktplc
38,597 sft Former Mervyns
32,000 sft DeZavala Crossing
27,356 sft Westlakes Village
Industrial 7.3% Vacancy Rate
$7.54 psf Rents
Demand
Absorption (1.15 mil sft)
Occupancy (3.3%)
Rental Rates (4.7%)
Rittiman
Industrial Park
(1.2 mil sq ft)
Buyers: Atlas
9707 Broadway
(107,133 sq ft)
Buyer: Elliott
Partners
Park Central Corp Center
(98,560 sq ft)
Buyers: CA Real Property Inc.
AT&T Pkwy 135,600 sft
Coca Cola Place 110,000 sft
Levi Strauss Plant
200,000 sft
Stout Dr, 171,856 sft
• 128,354 sf UPTC III & IV
• 120,041 sf 19500 Bulverde
64,800 sf Lanark DC
50,372 sf Alamo Downs DC
• 120,760 sf 655 Richlands Hills
• 89,600 sf Port San Antonio
• 55,025 sf Tri-County DC 3
Glazer’s
518,000 sft
Holt Cat
40,000 sft
JoAnne Skyonic
$126 mil.
chemical
facility
Mission Rail Park
1000+ acres
So, where are we headed???
Heading towards a BOOM!!!!!
Recession
2007
Boom Market
Over-Building Saturated
Market
Occupancy
Decreases
Rent
Reductions
Occupancy
Increases
Rising Rent
& Values
Boom Market Extensive
Construction
Replacement Cost
Active Construction Multi-Family
Industrial
Office
Retail
San Antonio CRE Market