San Antonio being called the next Phoenix.

[TheWriter]

Commercial real estate is taking off

Web Posted: 11/08/2005 12:00 AM CST

Adolfo Pesquera
Express-News Business Writer

With the lowest vacancy rates in memory for retail centers and already booming levels of construction, San Antonio is ready to be compared with boomtowns such as Phoenix, Orlando and Las Vegas, a real estate broker told local industry leaders Monday.

Larry Baumgardner, president of Dominion Advisory Group, and other commercial real estate speakers at the 2006 forecasting symposium said San Antonio is becoming one of the premier markets in the nation.

Speaking Monday to the ballroom full of commercial real estate brokers at the Westin La Cantera resort, Baumgardner said investors from all over the country see San Antonio as the next Phoenix.

"They believe entitled land and retail centers here are more valuable to them than any stocks or bonds," Baumgardner said.

Over the past four years, the city's Economic Development Foundation has attracted an average of 18 corporate moves a year, said Mario Hernandez, president of the agency.

There are currently 104 active prospects, he said, and the prospect list has been above 100 for eight consecutive quarters.

"This is our time," Hernandez said.

The city could see a massive increase in retail properties, Baumgardner said — as much as 6 million square feet in deals over the next 12 to 24 months. That is about double the average of the past few years.

The lion's share of investment, he said, is coming from out-of-town pension funds, real estate investment trusts and other large developers.

"Local money is strictly on the sidelines," Baumgardner said.

Land development is reflecting the major shift in participants, said Steve Raub of Investment Realty Co.

In the 1990s, most new housing was built by local companies that bought lots from developers. Today, major national firms have moved in and bought out the bigger local firms. They've acquired huge tracts and are doing their own development, squeezing out the traditional developers, Raub said.

Since 1998, housing starts have almost doubled to near 14,000 a year, he said. It's a huge shift that is benefiting San Antonio and its bedroom communities.

In the industrial properties sector, Hernandez noted that 16 percent of the Economic Development Foundation's prospects are looking for warehouse-distribution real estate.

"That is usually closer to 10 percent," he said.

http://www.mysanantonio.com/business/stories/MYSA110805.1E.estate.164c4bbd.html

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I just want lightrail damnit!

[tsb2000]

If that's true, great, but SA is going to have to lure the bigtime employers in order to sustain that growth. That's tough to do when there are two other cities larger than SA, not to mention Austin all trying to get jobs in their areas. The allure of Phx is the proximity to both Vegas and LA, as well as what used to be both cheap land and labor. Labor is still cheap, but the land is the fastest appreciating in the nation.

[samikeyp]

I hope not...its already hot enough. :spin

[TheWriter]

I hope not...its already hot enough. :spin

It's a dry heat. :lol

You know, a dry 114 degrees on a daily basis. :spin

[Vashner]

More like Phoenix would be Mexico if not for San Antonio... sorry but I have been there many times.. it's not that impressive. Nice clean town.. but it's no San Antonio.

They got no water.. no trees.. it's concrete jungle with a mountain view.. I think that new Manager is a waste of money... get someone local that does not need 250k to make ez decisions that are not stupid like giving esperanza center 80ger to hold political functions. Or 40ger toilets for bums downtown.

[TheWriter]

More like Phoenix would be Mexico if not for San Antonio... sorry but I have been there many times.. it's not that impressive. Nice clean town.. but it's no San Antonio.

They got no water.. no trees.. it's concrete jungle with a mountain view.. I think that new Manager is a waste of money... get someone local that does not need 250k to make ez decisions that are not stupid like giving esperanza center 80ger to hold political functions. Or 40ger toilets for bums downtown.

Those restrooms downtown will be for the general public as well.

And they are needed.

And she's not the one doing this, this was a city council idea from the get go almost two years ago.

[Vashner]

Too bad they got cancelled.

[ChumpDumper]

Careful what you wish for.

Phoenix is a crapbag of sprawl.

[TheWriter]

Too bad they got cancelled.

What got cancelled?

The downtown restrooms?

No they didn't.

[TheWriter]

Careful what you wish for.

Phoenix is a crapbag of sprawl.

Yeah. In another forum I said this was either a very good thing or very bad thing.

All depends on how smart we grow.

[T Park]

Im here in Phoenix now, and I kinda like it here.

Some of the intersections are stupid, i hate how there is no green.

I hate how hot it is here NOW.


But there is alot of development.

New football stadium, new hockey, remodeled AWA, Arizona Mills mall with every store imaginable.

Claim Jumper - Best resteraunt EVER.

In N Out - Best hamburger EVER.

Also places like Scottsdale, Awatukee, and area is really nice.


If we could develop the corporate things they have and business there in SA?

Id love that.

[Kori Ellis]

Phoenix is an awesome city. It's similar to San Antonio already in a lot of ways. When I first moved here, I thought it would be a big culture shock for me coming from Los Angeles, but the transition was super easy for me because it's actually very similar to Phoenix (where I grew up).

Phoenix has a really awesome downtown. They didn't when I was growing up but they really cleaned it up nicely after I was already living in L.A. and it was a pleasure to go back to.

And TPark is right, suburbs are very very nice there .. Awatukee, Cave Creek, etc.

[T Park]

Cave Creek

That place is awesome too, I was up there last week for dinner at a place called Cartwright's.

Awesome food, awesome town, and it was 12 degrees cooler!!!

It was like 50 something, had to have a jacket, that was nice.

[Kori Ellis]

My sister's house is in Cave Creek. She moved to that area a few years back from central Phoenix and her inlaws live in Awatukee. It's all very very nice.

[TheWriter]

Cave Creek from central Phoenix would be Bulverde from central San Antonio in terms of distance.

[Kori Ellis]

Cave Creek from central Phoenix would be Bulverde from central San Antonio in terms of distance.

I don't know exactly how far Bulverde is, but it's about 30 miles from the Phoenix airport to my sister's house.

[TheWriter]

Sky Harbor?

[TheWriter]

If you're talking Sky Harbor then both places (Bulverde; Cave Creek) are pretty much an equal distance from the city cores.

[Kori Ellis]

Yes Sky Harbor.

[Extra Stout]

I'd say San Antonio is a boomtown comparable to the other Sunbelt cities, sure.

It's finally got that momentum going.

There will be some challenges ahead, for example, when the quaint little Latino neighborhoods close to downtown with the Craftsman cottages get "discovered," and the out-of-towners invade.

[Das Texan]

we still need to maintain our uniqueness in what we do. and i dont really mean that small town idiot mentality neither.


we should still tear down the tower of the americas though. then and only then will we improve as a city

/buddy

dont worry buddy, we shall still go toe to toe someday and you will again lose.

[Extra Stout]

we still need to maintain our uniqueness in what we do. and i dont really mean that small town idiot mentality neither.
Indeed. That is what San Antonio must be careful not to lose in the midst of explosive economic growth.

[Marcus Bryant]

Great. That means more college educated Yuppie Anglos for the poorly educated local Hispanics to serve.

The article neglected to mention that.

[tlongII]

Buy real estate.

[TheWriter]

Great. That means more college educated Yuppie Anglos for the poorly educated local Hispanics to serve.

The article neglected to mention that.

Always looking for a way to make SA look bad. Poor MB...

[N.Y. Johnny]

Great. That means more college educated Yuppie Anglos for the poorly educated local Hispanics to serve.

The article neglected to mention that.


:lmao

Phoenix is a nice place...love it, the weather there is perfect for me, i hate the fuckin cold...if SA is the next Phoenix thats great, just would be better without all the goddamn Golfers :smokin

[Ocotillo]

I have to confess when I read the title of this thread I thought it was going to be about the Saints (compared to the Cardinals moving to Arizona back in the day).

[gameFACE]

Phoenix is a great town to compare SA to in terms of business growth. I proposed to my ex-wife in a little Scottsdale bistro and we used to visit her family there often.

Except for the downtown area San Antonio is a suburban sprawled city like most others. I hope it is able to have balanced growth unlike the severely lopsided growth it's had the last 40+ years. That's been a drag.

[TheWriter]

Except for the downtown area San Antonio is a suburban sprawled city like most others. I hope it is able to have balanced growth unlike the severely lopsided growth it's had the last 40+ years. That's been a drag.


You should see what's going up in Windcrest.

An urban and dense town center.

I'll get renderings as soon as I can.

[gameFACE]

Is it like the City South master plan?

[TheWriter]

The Towne Centre is a mixed use people magnet that features an exciting and vibrant 1,000,000 square foot quality pedestrian-friendly, traditional neighnorhood development of retail, restaurants, office, residential, healthcare, government, and community spaces with outstanding design on 23 undeveloped acres centered around a grand plaza.

Windcrest Towne Centre:

http://i15.photobucket.com/albums/a396/insidethe210/windcresttowncenter.png

[Das Texan]

windcrest is a shithole though, i fucking hate that place and that area....probably due in large to the 35/410 crap over there.

[Marcus Bryant]

Look out Scottsdale here comes Windcrest!

[TheWriter]

Look out Scottsdale here comes Windcrest!

That was actually funny.

:lol

[TheWriter]

probably due in large to the 35/410 crap over there.

Very true.

But as for Windcrest, it's a city that has an estimated average household income of $70,795.

[Das Texan]

Very true.

But as for Windcrest, it's a city that has an estimated average household income of $70,795.


still a shithole that think they are better than everyone else and in many ways cut themselves off from the rest of the city even more so than alamo heights.

[TheWriter]

still a shithole that think they are better than everyone else and in many ways cut themselves off from the rest of the city even more so than alamo heights.

They do like to go all out with Christmas lights. Can't hate them for that.

[Das Texan]

They do like to go all out with Christmas lights. Can't hate them for that.


ya to further show off how much better they are than anyone else.