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News – San Antonio

* This news feed is generated through NewsTalk Texas, provided by the Real Estate Center at Texas A&M University

​​Austin City Limits logo.AUSTIN – The 2017 Austin City Limits Music Festival pumped $255 million into the city’s economy, released by the festival’s organizers C3 Presents.​

Since 2006, Angelou Economics found that the festival has had a $1.7 billion economic impact and created or sustained 18,511 jobs.

The festival in 2017 alone supported the equivalent of 2,588 jobs, creating about $96.5 million in wages.

Austin City Limits is held at Zilker Park at 2100 Barton Springs Rd. every year.​​

​​1Q 2018 Market indicators for the San Antonio Office Market.SAN ANTONIO – NAI Partners released its 1Q 2018 San Antonio Office Market Report.

Moderate job growth in the San Antonio metro.

  • Job growth was moderate, increasing at a 2.9 percent annualized rate over the three months through February 2018, with increases in construction, mining, and manufacturing. 
  • The unemployment rate increased slightly to 3.4 percent in February as the Texas and U.S. rates held steady at 4.0 percent and 4.1 percent, respectively.

The vacancy rate was flat in the first quarter.

  • The total vacancy rate for the San Antonio office market remained flat during the first quarter of 2018, at 9.8 percent, and just a tad up from this time last year at 9.7 percent. 

Frost Tower is on schedule to open early 2019.

  • The 462,000​​-sf Frost Tower at 111 W. Houston, is on track and set to deliver in 1Q 2019. 
  • There are 1.2 million sf of space under construction in the San Antonio office market, with about 535,000 sf, or 43 percent available for lease.
Also in the report: Leasing activity decreased during the first quarter and Rental rates continued their gradual climb.

​​​The gated neighborhood has 22 duplexes in two floor plans, ranging from 1,423 sf to 1,627 sf, and priced between $333,990 and $343,990. HOUSTON – Neumann Oaks, a 22-home in-town community on two acres off Lehman St. near the Garden Oaks-Oak Forest area, will have its first homes ready in May 2018.

The gated neighborhood has 22 duplexes in two floor plans, ranging from 1,423 sf to 1,627 sf, and priced between $333,990 and $343,990.

Homeowner association fees will be $2,300 a year, and so far, 20 percent of homes have been pre-sold.

​​​Rendering of one of the buildings at the new Telecom CorridorRICHARDSON – A new business park, if approved, will bring new office and industrial buildings to a location near the Telecom Corridor.

The project—which will include about a 500,000 sf of industrial space—is on more than 38 acres on Telecom Pkwy., according to plans filed with the city.

JacksonShaw, the developer, is asking for zoning to develop four buildings ranging in size from 92,000 sf to 140,000 sf.​​

​​​​​HOUSTON – Clay Development & Construction has plans to develop the Offices at North Post Oak at 4435 W. 12th St.

The 150,000-sf project will be on 7.5 acres, and will include seven red-brick, loft-style office buildings offered for sale or lease.

The 150,000-sf project will be on 7.5 acres, and will include seven red-brick, loft-style office buildings offered for sale or lease.

Clay Development & Construction will break ground on the first two buildings in third quarter 2018.

The initial buildings will be finished in first quarter 2019.

The price tag for a move-in ready building will be $300 per sf.