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 nearing completion on their interior finish out and exterior landscaping. When finished, the company will occupy 36,450 square feet of new office space at 5600 Schertz Parkway. Another Project, Schertz 312 continues to work on attracting tenants to the 171 acres opened by phase 1 of their two-part development.
Schertz’ Industrial Average Asking Price for the quarter is approximately 3.1% higher than last quarter ($5.78 versus $5.60 per square foot per year). Overall, the Average Asking Price is 3.7% higher when compared to this figure for the same period last year ($5.78 versus $5.57). This quarter’s Net Absorption of 14,072 sf is due to (a) 40,953 square feet of space being vacated by the Animal Supply Company7 in 17745 Lookout Road, Enterprise Building 1 and (b) approximately 55,025 square feet being occupied by CDS Moving at 5755 Tri County Parkway.
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% from the same period last year.
