Property values in Bexar County are up, with commercial real estate posting some of the biggest increases. Overall, values in Bexar County — with about 648,000 properties — will rise about 5 percent.
Commercial properties will see the biggest spike, with about a 12 percent rise in values. Residential properties will see an approximately 2 percent bump. That means many property owners will pay more in taxes, which means local school districts and governments will collect more from ad valorem taxes.
Still, even though the real estate market is rebounding, a number of areas are still seeing foreclosures — a factor the appraisal district uses to set property values — while other communities go mostly unscathed.
The double-digit jump for the commercial market was an expected outcome as it continues its rebound. Apartment buildings are at the top of the sector with values increasing about 20 percent.
“There’s still a significant amount of challenge in the market, especially in some pockets,” said Kim Gatley, a vice president at commercial real estate firm NAI REOC San Antonio. “And definitely, property by property, there are issues that would mitigate the appraised increase. But overall, as the economy improves and leasing continues, the natural outcome is that it increases value.” …Read Entire Post
Economic expansion and job growth will drive recovery as interest rates rise. Recovery in the housing market augers for continued improvement in U.S. commercial real estate over the next two years.
Despite challenges – including gradually rising interest rates and government spending cuts – the outlook for commercial real estate is positive. The U.S. economy is expected to grow by 1.9% in 2013 and accelerate to 2.8% in 2014. This growth will spur the creation of 4.8 million jobs over the next two years. As job growth accelerates, so too will demand for commercial real estate, leading to continued improvement in vacancy rates. …Read Entire Post
Cap rates for the single tenant net leased market remained near historic lows for retail, office and industrial sectors in the first quarter of 2013. Cap rates for net lease office and industrial properties declined while retail cap rates remained at 2012 fourth quarter levels.
Regardless of the decline in cap rates for office and industrial properties, net lease retail properties remain priced at a 45 and 77 basis point premium over office and industrial properties respectively. Properties occupied by credit tenants with long term leases experienced the greatest compression in the first quarter of 2013. …Read Entire Post
Settling in San Antonio with private jets and Porsches, their influence has been compared to that of well-heeled Cubans who took refuge in Miami decades ago.
The Mexican businessmen in Rolexes and Burberry ties meet on the north side of town, at Cielito Lindo Restaurant, or at new neighboring country clubs. Their wives frequent Neiman Marcus, Tiffany’s and Brooks Brothers at the nearby mall. Their children park Porsches with Mexican license plates in the student lots at Reagan High School.
They have poured into developments with names like the Dominion, Stone Oak and Sonterra that were cut into the rocky hills and oak groves north of the Loop 1604 highway that rings the city.
More than 50,000 Mexican nationals now live permanently in San Antonio, city officials say, turning an upscale enclave known as “Sonterrey” or “Little Monterrey” into the city’s second-fastest growing ZIP code.
Click to read entire article: Wealthy, business-savvy Mexican Immigrants transform Texas city (L.A. Times, 3-24-13)
Site Selection magazine awards the Governor’s Cup each year to the governor of the state with the highest number of qualified capital investment projects the previous calendar year. Texas is back in a big way with a commanding first-place finish in the 2012.
“This is a confirmation of the men and women of the Texas legislature understanding that if we will continue with the predictability and stability of tax and regulation and legal policy that allows entrepreneurs to keep more of what they earn, then we will become the job creation magnet in America,” Gov. Rick Perry told Site Selection on February 21st. “That is what has happened.” …Read Entire Post
NAI REOC San Antonio was listed among the Top Leasing Firms by Costar, a national commercial real estate research and information service. Their 2012 San Antonio Winners list also included John Greg Turcotte, CCIM as one of the Top Industrial Leasing Brokers and Todd A. Gold, CCIM as one of the Top Sales Brokers.
Click to view Costar’s 2012 award winners.
A new analysis by Pitney Bowes Software has plotted out the growth of the country’s largest metropolitan areas for the next five years. The good news is the San Antonio/New Braunfels metro area is primed to see quite a few new households.
All told, between 2012 and 2017, the number of households for the San Antonio/New Braunfels area is expected to grow by 55,017 — going from a total of 776,007 households as of 2012, to a projected 831,024 households by 2017, an increase of 7.1 percent.
That projected growth has earned the San Antonio/New Braunfels metro the No. 5 spot on Pitney Bowes Software’s list of the Top 50 Major Metro Areas, as ranked by projected percentage growth.
Click to read entire article: San Antonio/New Braunfels part of fastest growing metros (San Antonio Business Journal, 11-27-12). Click to view full Pitney Bowes report.
NAI REOC’s Director of Research, Kim Gatley, presented an update of the San Antonio commercial real estate market at this year’s CCIM Symposium held November 1st at the Grand Hyatt Hotel in downtown San Antonio.
Click here to view the 2012 CCIM Symposium Research & Statistics slide presentation.
The San Antonio Business Journal recently released the 2012 winners of the Best in Commercial Real Estate Deals.
Click to view the slideshow featuring the complete list of this year’s winners.