Quarterly Report Overview
Every quarter, the Schertz Economic Development Corporation produces a Quarterly Report, highlighting the Schertz real estate market and ongoing Projects. Be sure to follow us on Twitter to stay up-to-date on Schertz economic development.
Our latest Quarterly Report includes an analysis of the Schertz and San Antonio real estate landscape (focusing on the industrial sector), details on notable Projects, a development update that maps out current development across the city, and a breakdown of available Class A industrial properties and development ready sites.
Executive Summary
Highlights from the report include: In November, Nexus Enterprises celebrated their groundbreaking. When complete, the company will occupy 36,450 square feet of new office space at 5600 Schertz Parkway. Another Project, Schertz 312, is making progress on the installation of the new road which will connect with Doerr Lane. All utilities have been installed with curbing and paving expected to be in place by early March. The first phase of this Project will open 171 acres for future development and is slated for completion by March 2020.
Schertz’ Industrial Average Asking Price for the quarter is approximately 0.3% higher than last quarter ($5.59 versus $5.57 per square foot per year). Overall, the Average Asking Price is 5.2% higher when compared to this figure for the same period last year ($5.59 versus $5.30). This quarter’s Net Absorption of 124,389 sf is due to (a) Chicago Title, an existing Schertz company, expanding to take approximately 77,000 sf of space in Enterprise Building 2 and (b) approximately 48,000 sf being taken off the market to accommodate existing users in Enterprise Building 5.
Multiple commercial industrial projects remain in process, including Tri County Crossing Buildings 3 and 4 as well as Enterprise Buildings 4 and 6. All four of these buildings are under construction and will add an additional 641,690 square feet of industrial commercial space to the Schertz market when completed.
The number of new residential building permits issued during the quarter was down 24.0% from the same period last year.
