Home » MHN City Pages  »  San Antonio  

WP HTTP Error: A valid URL was not provided.


San Antonio’s Shavano Centre III Listed For Sale Through Marcus & Millichap

7 Apr 2014, 2:21 pm

By Anca Gagiuc, Associate Editor

Marcus & Millichap recently announced it has been chosen by a San Antonio developer to market for sale the office building known as Shavano Center III. Scott Ryan, an associate vice president for investment, is heading the effort. The property is listed for $12.5 million, or $197 per square foot.

“Shavano Center III is stabilized at 100 percent occupancy,” said Ryan in a news release. “The property is an attractive, well-placed asset with a varied tenant mix and staggered rollover.”

The asset is located in the Far North submarket, at 3619 Paesanos Parkway, between Interstate Highway 10 and U.S. Highway 281. Built in 2007, it totals 63,501 square feet on three stories. The 3.29-acre, park-like property features mature oak trees; the building is constructed from concrete tilt wall panels with stone veneer, encasing a steel frame. Shavano Center III features a security surveillance system with 24-hour card key access, and tenants have control of HVAC and electricity. Surrounding retail and entertainment establishments include The Shops at La Cantera, The Westin Resort, The Rim and the Six Flags Fiesta Texas.

According to Marcus & Millichap, San Antonio’s office market will go through some positive changes throughout 2014. Vacancy will fall to 13.8 percent, as a sign of employment growth and consequently of additional investor interest. Rents will go up 2.7 percent, following last year’s increase of 0.3 percent. Sales are also looking up, as institutional investors and REITs gain interest in newer, multi-tenant and sale-leaseback opportunities.



Presidium Group Acquires Villages of Cinnamon Creek

1 Apr 2014, 1:33 pm

By Anca Gagiuc, Associate Editor

Dallas-based Presidium Group L.L.C. announced its fourth acquisition of a residential property in the San Antonio area over the past six months. The other three apartment complexes are the 252-unit Oakwell Springs, the 81-unit Hunter’s Ridge Apartments and the 123-unit Towne Oaks apartments.

The Villages of Cinnamon Creek is a 348-unit multifamily community located on the Northwest Side, at 8722 Cinnamon Creek Drive. In close proximity are the University of Texas Health Science Center, the University of Texas at San Antonio and the national headquarters of USAA.

Transaction details have not been made public, but last year the property was assessed at $21 million. According to the Bexar Appraisal District, the previous owner of the community was F&F International Associates L.P. Presidium plans to rebrand and renovate the community in the coming months, having allocated $3 million for capital improvements. Work includes upgrades to the units’ interior hardware, plumbing, lighting fixtures and appliances. Exterior work will consist of improvements to the building exteriors, amenities and common areas.

“The Villages of Cinnamon Creek is an outstanding asset in good physical condition in one of the most desirable San Antonio submarkets,” said Presidium co-CEO Cross Moceri in a press statement. “The community is well located and performing at strong levels, with upside potential to significantly increase rental income through value-add renovations.”



San Antonio City Council Selects Gustafson Guthrie Nichol to Design Hemisfair’s Civic Park

25 Mar 2014, 1:39 pm

By Anca Gagiuc, Associate Editor

The San Antonio City Council has selected a firm to design and arrange the landscape architecture for the Hemisfair Park. The winner is Seattle-based Gustafson Guthrie Nichol (GGN). The project is part of a series of three parks on the Hemisfair site.

The downtown site is located at one of the most vibrant pedestrian intersections of the city – Market Street and Alamo Street – and it spreads across more than eight acres. Plans are for a beautiful urban green space embraced by a lively, walkable district, with the design based on the community’s vision for the park. Completion and availability to the public are set for 2018, just in time for San Antonio’s Tercentennial and the 50th Anniversary of the World’s Fair.

The transformation of the Hemisfair site is being led by the non-profit Hemisfair Park Area Redevelopment Corp. (HPARC). GGN will collaborate with San Antonio-based Alamo Architects and a team of local and national design and engineering experts. Kathryn Gustafson, founding principal of GGN, and principal Keith McPeters will lead the design team. Project consultants are Magnusson Klemencic Associates, Vickrey & Associates, CHG Engineering, Ximenes & Associates, Jaster-Quintanilla, Tillett Lighting Design, Drew Collaborative Works, Toole Design Group, CMS Collaborative, Theatre Projects Consultants and ETM Consultants.

GGN’s other projects in the U.S. and Europe include the Lurie Garden at Millennium Park in Chicago; the Diana, Princess of Wales Memorial at Hyde Park in London; Cultuurpark Westergasfabriek in Amsterdam; Seattle City Hall Plaza; Valencia Parque Central in Spain; and the Robert and Arlene Kogod Courtyard at the Smithsonian American Art Museum and National Portrait Gallery in Washington, D.C.

“We were immediately drawn to the Hemisfair project as a rare opportunity to create one of the world’s great public spaces,” said Kathryn Gustafson in a news statement. “We are excited by the design potential inherent in the cross-cultural influences that define and propel San Antonio – a city with a rich history and a growing urban population,” she added.

Photos courtesy of Hemisfair 



KB Home Announces New Community of Built-to-Order Homes in New Braunfels

18 Mar 2014, 3:49 pm

By Anca Gagiuc, Associate Editor

This summer, New Braunfels will make room for a new construction site that will offer to homebuyers 469 Built to Order homes in a new community called West Village at Creekside. The grand opening is scheduled for January 2015.

The developer is KB Home, which recently announced acquisition of land where future residents will have the option to choose from two collections. Amenities will include a private swimming pool, a picnic pavilion, walking trails and a playscape for children. The surrounding areas offer rapid access to retail shopping, Comal ISD schools, a Buc-ee’s convenience store and The Village at Creekside, known as the largest healthcare hub between San Antonio and Austin.

“The Village at Creekside includes a hospital, labs, medical offices, fitness facilities and serves as a lifestyle center for the local area,” said Brett Dietz, president of KB Home’s San Antonio division, in a press statement. “We are excited to offer our beautiful, new energy-efficient homes to those who want to call this growing part of New Braunfels home.”

All homes will be built with energy efficiency in mind to help residents save on utility bills. WaterSense-labeled faucets and fixtures will be incorporated in each home to conserve natural resources. Those interested can opt for solar panels, which help lower energy bills further.

This is KB Home’s third New Braunfels community and joins 23 other communities in San Antonio. The newest ones on the market are Park Vista, CrossCreek and Esperanza, and the plans for further growth in the area don’t stop there.

“In addition to being one of San Antonio’s premier homebuilders, we pride ourselves on being one of the area’s first-choice land buyers,” added Dietz. “KB Home’s extensive market knowledge and strong relationships with local land sellers enable us to identify and quickly secure exceptional opportunities to offer our homes in highly attractive locations, including in New Braunfels, where West Village at Creekside will be built.”



New Development Breaks Ground in Historic Leon Springs

10 Mar 2014, 9:13 pm

By Anca Gagiuc, Associate Editor

Three firms have joined forces to keep a promise to “do something special” between Leon Creek and historic Leon Springs, fronting Interstate Highway 10. San Antonio-based Embrey Partners, New York City-based Case Pomeroy Properties and San Antonio-based Leon Creek Ltd. have broken ground on a 15-acre, 320-unit multi-family community as part of a larger mixed-use development.

The community is designed to pay tribute to the local history and to the Old Spanish Trail that in the late 1800s passed across the front of the property, at the same time reflecting an upscale, eclectic and pedestrian-friendly environment. Financing for the project comes from JP Morgan, and first occupancy is scheduled for February 2015.

The area offers magnificent hill country views, with walkable access to retail and popular local restaurants like Rudy’s and The Grill. “We’ve worked with other landowners to create a place with improved access that offers the ability to drive into the area and safely walk around; read the signage commemorating the historic nature of the area; visit the Aue homestead, old depot and hotel; and really get a sense of the historical significance of the area,” said Jeff Booth, Embrey’s senior managing partner on the project, in a press statement.

The Dallas-based BGO Architects chose a “Texas Country French” theme, utilizing native limestone. The development will include a 6,397-square-foot, two-story clubhouse featuring a business office, catering kitchen, dining room, fitness center and indoor golf simulator. Outdoor amenities will consist of a luxury pool with cabanas, cooking areas, a trellis-covered outdoor fireplace and green gathering areas. “We’ve designed this as an executive-class lifestyle experience and have made it flexible enough for empty nesters, singles and couples,” added Booth.

The apartments will include one-, two- and three-bedroom options, as well as carriage house units and townhomes; they will range in size from 608 square feet to 1,409 square feet. Residents will be able to choose from three interior design finish packages including high-quality granite countertops and custom wood cabinets. They will also be able to upgrade to packages normally found only in custom, single-family homes, such as designer hardware and lighting, stainless steel appliances and attached private garages.

The east side of the development overlooks homes in the Dominion, one of San Antonio’s most exclusive, Hill Country neighborhoods. Two premier residential buildings will offer elevators, one overlooking the pool and the other flanking the amenity center. “We’re very excited about developing it in a way that will reflect the quality and timeless architectural appeal the Dominion is known for,” said Booth.

Photo courtesy of Embrey Partners.







Leave a Reply