Stream Realty Sells 109,165 SF Warehouse / Distribution Facility in University Park

SAN ANTONIO- Stream Realty Partners, a national real estate services, development and investment firm, recently is pleased to announce the sale of 12626 Silicon, a 109,165 square foot warehouse/distribution facility located in University Park in Northwest San Antonio. 

Jason Schnittger, Managing Director, Michael T. Kent, Vice President and Kevin Cosgrove, Senior Associate of Stream Realty Partners – Central Texas, L.P. represented the Seller, First Industrial Realty Trust, Inc., while Dan Gostylo and Seth Prescott of Providence Commercial Real Estate Services represented the Buyer.

“This is an excellent distribution facility located in a non-traditional warehouse market. Our pool of tenants and users was limited due to the property’s distance from I-35, but the building was maintained extremely well by First Industrial and it was only a matter of time before we found a user that would jump on the opportunity to own a facility in University Park,” said Jason Schnittger of Stream Realty Partners.

About Stream Realty Partners

Stream Realty Partners is a national real estate services, development and investment firm. The firm represents a diverse mix of local, national and international clients and leases and/or manages a portfolio of more than 130 million square-feet of office, industrial and retail properties. Founded in 1996, Stream Realty has grown from two partners to more than 750 real estate professionals operating throughout the U.S. For more information, visit www.streamrealty.com.

East Side property slated for massive transformation

A master plan for several buildings along the railroad where Union Pacific has a very active line is about to be under development, but we’re giving readers a look at what the property looks like now before construction crews begin the renovation.

The major East Side development will be the new home of a new technology innovation center spearheaded by the Texas Research and Technology Foundation, which acquired the Merchant Ice building alongside several other properties in a complex near Houston Street and Cherry Street.

For more about the San Antonio-based organization’s plans, check out this story. For more about the innovation center and to meet the man in charge, check out this story. These plans on the East Side also mean that the Texas Research and Technology Foundation sees opportunity to leverage existing property it owns on the far West Side, for more on that story, click here.

Click to read more at San Antonio Business Journal. 

Boston investor shells out big bucks for one of downtown Austin’s newest skyscrapers

The downtown Austin office tower dubbed “5th+Colorado” has sold for a stunning $663 per square foot — a total of nearly $119 million, according to Real Capital Analytics.

The buyer was Intercontinental Real Estate, a Boston-based company that owns other office assets in Austin.

The seller was a joint venture of Goldman Sachs and Lincoln Property Co., an avid developer and commercial real estate brokerage in Austin. Michael McDonald of Eastdil Secured handled the deal.

McDonald is accustomed to pushing the envelope when it comes to securing top dollar.

Click to read more at Austin Business Journal.

3 notable mixed-use, residential projects to pop up in Austin suburbs

bout two out of three newcomers to the Austin area end up settling in the suburbs, and that is producing an impressive building boom in the region.

Here’s a rundown of three more new projects:

  • In Pflugerville, about 20 minutes north of downtown Austin, City Council is pondering whether the city should partner in a 45-acre project called Pecan District. Developers plan to start building apartments at Pecan Street and Heatherwilde Boulevard in December, and they told city officials their involvement could mean the difference between a $400 million project with a huge parking lot and a $1.2 billion development with community amenities such as a hotel and amphitheater. The Austin American-Statesman chronicles the discussions in this article, and Community Impact Newspapers summarized the developers’ pitch here.

Click to read more at Austin Business Journal.

28 major real estate deals going down in Austin

 Austin-based Aquila Commercial cranks out some of the best commercial real estate reports I’ve seen in my career. Earlier this week, I wrote about some of the analysis about downtown Austin parking costs, outmigration trends and traffic stats, and now here are some specific deals and data of note during the second quarter:
 
Click to read more at Austin Business Journal.