- August 21, 2017
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With the commercial cycle in full throttle in Texas, each market has specific factors and drivers that contribute to the strong growth. From Houston’s medical and oil/gas centers, to Austin’s tech growth, there are a variety of ways to draw a crowd in Texas! When we look locally to the San Antonio MSA, we can see strong factors at play to keep push growth along. The popular players and media darlings are Multi-family and Retail, but what gets less mention is Suburban Office Space. We have to look no further than simply look at the national level reporting from Real Capital Analytics to find parallels to our own market. During the current economic expansion urban growth has been a hot topic and we’ve seen many people migrate inward toward high density areas in major cities. This led to an increase in demand for Central Business District (CBD) Office space. What is interesting to note is the now strong performance of Suburban Office products as investors and tenants alike search for low vacancy niches and attractive rents.
New Braunfels itself is seeing a growing office sector, capitalized by medical office growth along Common Street along with in and around Resolute Hospital in the Creekside area. These office areas also attract other professionals, creating pockets of activity for market capture. With the upcoming Koonz office project off Sundance containing 120,000 sf of space, a 60,000 sf mixed use area off Common containing retail and office, growth shows no slowing down. While other items are hot topic, be sure you don’t forget about office. Read more about the national scene and San Antonio via RCA and Integra reports and feel free to call our office to discuss what’s coming next in New Braunfels and the surrounding area.