Ackerman & Co. Breaks Ground on 511 KSF San Antonio Industrial Park
The two buildings are scheduled to come online in 2024.
Ackerman & Co. has broken ground on the Corporate Drive Industrial Complex, a two-building project in Selma, Texas. Set to total 511,000 square feet, the Class A distribution facilities are set to come online in 2024’s first quarter. The developer acquired the land in partnership with Baltisse US Inc.
Situated at 9388 Corporate Drive, the 32-are site is 17 miles northeast of downtown San Antonio, in the Texas Triangle. Interstate 35, the primary distribution corridor between San Antonio and Austin, is approximately 1 mile from the project.
“The Texas Triangle, particularly the corridor between San Antonio and Austin, is an important market for Ackerman & Co., and we have additional major projects planned,” Jeff Bryant, senior vice president & principal at Ackerman & Co., told Commercial Property Executive.
Building 1 will be 274,000 square feet while Building 2 is set to comprise 237,000 square feet. Both facilities are in the pad development phase. The property’s rear-loading buildings will feature 32-foot to 36-foot clear heights and a total of 59 trailer parking spaces and 647 car parking spaces.
Bryant told CPE that the leasing team is targeting a wide range of tenants, from distribution and logistics operators to light industrial and high-tech users. NAI Partners will be in charge of leasing and marketing the property.
San Antonio’s resilient market
The San Antonio industrial market is demonstrating resilience amid economic headwinds. In the first half of 2023, the area recorded 1.2 million square feet of positive absorption of industrial space, according to a Cushman & Wakefield report. Vacancy rates increased by 110 basis points since the first quarter—to 7.3 percent—partially due to several warehouse and distribution facility deliveries.
Ackerman & Co. recently completed another similar project in the market—The Doerr Lane Logistics Center was delivered in March and comprises 307,000 square feet of Class A distribution space. The park’s tenants include Quality Custom Distribution and MEI Rigging and Crating.
Koontz Corp. is developing another industrial property off of Interstate 35. The Frontera Logistics Supersite is set to be an eight-building project comprising 2.8 million square feet.