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’s economic development.
Our latest Quarterly Report includes an analysis of the Schertz and San Antonio real estate landscape (focusing on the industrial sector), notable market activity and projects, current developments, and a breakdown of available Class A industrial properties and development-ready sites.
Executive Summary
Highlights in Q3 include the successful occupation of the former GE Oil & Gas by Amazon Delivery located on 1150 Schwab Rd. Kellum Real Estate’s 10-acre medical campus is set to have its first building complete by October with a second building set for completion in November. Once complete, Kellum Family Medicine will relocate its current operations on Roy Richard Dr. into the medical campus. The vacated office will be renovated to house a new tenant, possibly a veterinary clinic. Multiple commercial industrial projects remain in process, including the Four Oaks Industrial Building on Four Oaks Ln. next to Walmart, and Tri-County Crossing Park, consisting of Tri-County Crossing Buildings 5 and 6 along Lookout Rd., and Enterprise Business Park’s Building 7. These projects will bring an additional 573,844 square feet of industrial-commercial space to the Schertz market when completed.
Schertz’s Industrial Average Asking Price for the quarter is lower compared to Q2 dropping from $5.46 to $5.37. Overall, the Average Asking Price is 4.3% lower when compared to the same period last year ($5.60 versus $5.37).
This quarter’s Net Absorption of buildings classified as greater than 15,000 square feet was 106,424 square feet due to initial leases signed by two tenants. Titan, who is brokering the majority of available industrial real estate in Schertz, changed brokerage representation and adjusted asking prices during Q3. Enterprise Buildings 4 and 6 also changed ownership and representation in Q3.
The number of new residential building permits issued by the City of Schertz/Building Inspections Division is 52% lower than those issued during the same period last year.
