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: Nexus Enterprises is working on their interior finish out and exterior landscaping. When complete, the company will occupy 36,450 square feet of new office space at 5600 Schertz Parkway. Another Project, Schertz 312 has completed the first phase of their development off of Doerr Lane. This phase opens up 171 acres for future development and the developer is currently seeking to recruit tenants to the site.
Schertz’ Industrial Average Asking Price for the quarter is approximately 2.1% higher than last quarter ($5.60 versus $5.49 per square foot per year). Overall, the Average Asking Price is 2.2% higher when compared to this figure for the same period last year ($5.60 versus $5.48). This quarter’s Net Absorption of -3,555 sf is due to (a) 40,841 square feet of space being vacated by J.J.’s Mae/Rainbeu in 17745 Lookout Road, Enterprise Building 1 and (b) approximately 37,296 square feet being occupied by Hussman and Alterman Electric at 17750 Lookout Road, Tri County Crossing 1.
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 up 40.4% from the same period last year.
