San Antonio

What is to become the “largest Candlewood Suites hotel” in the world is progressing towards a scheduled open date in July 2014. Cleveland Construction, Inc., the current general contractor for the Fort Sam Houston Candlewood Suites hotel located in Joint Base San Antonio, shared updates about the massive development, designed by EDI International.

Marcus & Millichap recently announced they’ve been chosen by a San Antonio developer to market for sale the office building known as Shavano Center III. Scott Ryan, an associate vice president investment is responsible with the transaction. The listing’s price is $12.5 million, $197 per square foot.

Dallas-based Presidium Group, LLC, announced the acquisition of the fourth residential property in the San Antonio area over the past six months. The other three apartment complexes are the 252-unit Oakwell Springs, the 81-unit Hunter’s Ridge Apartments, and the 123-unit Towne Oaks apartments.

The San Antonio City Council has selected the firm to design and arrange the landscape architecture for the Hemisfair Park. The winner is Seattle-based Gustafson Guthrie Nichol (GGN). The project is part of a series of three parks on the Hemisfair site.

This summer, New Braunfels will make room for a new construction site that will offer to homebuyers 469 Built to Order homes in a new community called West Village at Creekside. The grand opening is scheduled for January 2015.

Three firms have joined forces to keep a promise to “do something special” between Leon Creek and historic Leon Springs, fronting Interstate Highway 10. San Antonio-based Embrey Partners, New York City-based Case Pomeroy Properties, and San Antonio-based Leon Creek, Ltd. have broken ground on a 15-acre, 320-unit, multi-family community as part of a larger, mixed-use development.

The prosperous North San Antonio market keeps on flourishing, especially the Northwest Corridor. After the consistent investment deal lead by Hines Global REIT in the massive retail center, The Rim, the final phase of construction is about to commence. Canyon Capital Realty Advisors announced its involvement in the financing for the fifth phase with a $55.2 million senior loan to an affiliate of Thomas Land and Development, LLC. RIM V adds 254,606 square feet of retail space to the existing construction, and 91% of it is already pre-leased to retail tenants.

By Anca Gagiuc, Associate Editor

The Northwest San Antonio is developing at very high speed. The latest acquisition is evidence of high interest coming from the investors – Hines Global REIT, Inc. announced it purchased the retail interest of Georgia-based Thomas Land & Development in The Rim, the largest outdoor retail center in Texas.

The border delimitating the urban and suburban areas of San Antonio started fading away when Embrey Partners announced that they received zoning approval to turn 8.2 acres of commercial space in the Legacy Shopping Center into an apartment development with 289 units. The property is located at Loop 1604 and Highway 281 in northern San Antonio and will be the third mixed-used community the company has built along the 281 corridor.