located in an opportunity zone...jll is pleased to offer the unique opportunity to purchase 902 e...
TRANSCRIPT
DOWNTOWN SAN ANTONIO
.8ACRES
.42ACRES
OFFERING MEMORANDUM
S A N A N T O N I O , T E X A S
1.12 AC COVERED LAND REDEVELOPMENT OPPORTUNITY
LOCATED IN AN OPPORTUNITY ZONE
EXECUTIVE SUMMARY
JLL is pleased to offer the unique opportunity to purchase 902 E Houston Street & 400 Bowie Street, a 0.8-acre parcel with 18,996 square feet of improvements and a 0.42-acre site (the “Property” or “Site”) in the high performing Downtown submarket of San Antonio, TX. Located in an Opportunity Zone adjacent to Interstate 37, the Site offers exceptional frontage and visibility, while being a brief walk from The Alamo, and near the highly trafficked Interstate 35 corridor. Situated in the heart of Downtown San Antonio, the Property benefits from proximity to San Antonio’s main economic drivers, which account for the majority of jobs in the immediate area.
.8ACRES
.42ACRES
SPRINGHILL SUITES BY MARRIOTHAMPTON INN
TRU BY HILTON
SAN ANTONIO FIRE MUSEUM
FAIRFIELD INN & SUITES
SPRINGHILL SUITES BY MARRIOT
COMFORT SUITES
RED ROOF PLUS+LA QUINTA INN & SUITES
E HO
USTO
N ST
MC
CU
LLOU
GH
AV
E
ELM ST
I37 FRONTAGE RDLocation 902 E Houston Street 400 Bowie Street
San Antonio, TX 78205
Parcel # 101863 105554
Site Area 0.8 Acres | 34,674 SF 0.42 Acres | 18,339 SF
County/City/State Bexar/San Antonio/Texas
Current Zoning D | Downtown District
Permitted Uses Office, Retail, Mixed-Use | No Height or Building Limitations
Current Use Days Inn by Wyndham Alamo Riverwalk (81 Keys)
PROPERTY SUMMARY
5 MINUTEWALK TO THE
ALAMO
JLL | ALAMO CONVENTION CENTER | SAN ANTONIO, TEXAS
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.8ACRES
.42ACRES
SPRINGHILL SUITES BY MARRIOTHAMPTON INN
TRU BY HILTON
SAN ANTONIO FIRE MUSEUM
FAIRFIELD INN & SUITES
SPRINGHILL SUITES BY MARRIOT
COMFORT SUITES
RED ROOF PLUS+LA QUINTA INN & SUITES
E HO
USTO
N ST
MC
CU
LLOU
GH
AV
E
ELM ST
I37 FRONTAGE RD
LOCATED IN
OPPORTUNITYZONE
3
INVESTMENT HIGHLIGHTS
PROXIMATE TO MAJOR ECONOMIC DRIVERS
Located just minutes from some of San Antonio’s largest employers including Joint Base San Antonio, HEB Headquarters, City of San Antonio, San Antonio Independent School District and the University of Texas at San Antonio
With a cost of living 15% below the national average and cost of business 20% below the national average, San Antonio is booming in both population and corporate growth as people relocate to Texas’ most historic city
Population and business relocation to San Antonio has resulted in a diverse economy ranging from military, energy, and healthcare, to tourism, as well as recent advancement in industries such as technology, cybersecurity, bioscience, aerospace, and renewable energy
Slated to deliver in Summer of 2021 and less than 5 minutes from the Site, Zachry Hospitality is developing Hemisfair, a mixed-use projected consisting of more than 150,000 square-feet of Class A office space, hundreds of residential units, a 200-room boutique Hilton Curio Collection hotel, and an underground parking facility. Additionally, Hemisfair park-goers should expect to see a variety of offerings that occupy each building’s ground-floors spaces including restaurants, shops, museums, and cultural and educational amenities.
ADJACENT TO THE ALAMO & SAN ANTONIO RIVER WALK
Tours of the Alamo, an 18th-century Spanish mission, recount the site’s role in an 1836 battle for Texas Independence and is a less than 10-minute walk from the Property
The River Walk is one of San Antonio’s most popular tourist destinations as well, resulting in a bustling business and leisure CBD, with eclectic bistros and bars lining the famous scenery
Downtown is a cornerstone of the local economy where tourism and convention trade bring more than $4 billion of business to San Antonio every year
JLL | ALAMO CONVENTION CENTER | SAN ANTONIO, TEXAS
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SUPERIOR ACCESS & VISIBILITY
Located along Interstate 37, and west/south of Interstate 35 the property boasts over 150,000 vehicles passing per day along I-37
Convenient ingress/egress points with direct access to extensive thoroughfare E Houston Street and minutes from I-10 and I-35
Rapid access to some of San Antonio’s most desirable retail and office amenities throughout the city including Shops at Rivercenter, the Henry B. Gonzalez Convention Center, as well as many villages and museums of historical art
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FLOURISHING SAN ANTONIO ECONOMY
While it has consistently led the nation in economic growth and stability, the Alamo City is undergoing an urban revival that has picked up significant pace in recent years. San Antonio is experiencing rapid urbanization as young professionals and businesses are taking notice of the abundant opportunities it has to offer. Among Texas’ big four metro areas, San Antonio stands out for its diversified economy, attractive quality of life, a growing technology ecosystem, and favorable cost of living.
RICH HISTORY & URBAN RENAISSANCE
• Traditionally known for its rich multi-cultural history, the Riverwalk, Alamo & family tourist destinations
• Celebrated for its emerging culinary and arts scene, entertainment destinations, outdoor activities, and newly revitalized areas such as The Pearl and Southtown
• Explosive urban growth: recently announced $450 million Alamo Plaza redevelopment and $90 million UTSA downtown tech & security focused expansion
JLL | ALAMO CONVENTION CENTER | SAN ANTONIO, TEXAS
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“If there’s a city of opportunity in Texas, it’s San Antonio. There aren’t many times in a
generation when you can actually build a city. It’s becoming one of the country’s really great cities right now. Something is happening. It’s
definitely happening.” Graham Weston
Founder and Former CEO of Rackspace
ACCOLADESNO. 1
AMERICA’S NEXT BOOM TOWNForbes
NATION'S 2ND HIGHEST GROWTH OF MILLENNIALS
Brookings
TOP 5 FOR ECONOMIC PERFORMANCE
Brookings
TOP 10 MUST-VISIT DESTINATIONS
Forbes
TOP 25 MARKET FOR REAL ESTATE INVESTMENT 2020
ULI's Emerging Trends in Real Estate®
TECH HOTSPOTInc.
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NOTABLE EMPLOYERS
80,165 JOBS 18,305 JOBS50,000+ JOBS 20,000 JOBS
JOINT BASESAN ANTONIO
5,000 JOBS
2,800 JOBS 3,300 JOBS 1,653 JOBS 500 JOBS
JLL | ALAMO CONVENTION CENTER | SAN ANTONIO, TEXAS
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TEXAS
SANANTONIO USA
POPULATION TRENDS
• Second fastest growing city in the U.S. with 20,824 new residents between 2017-2018
• 2.5+ million MSA residents: second most populous city in Texas, 7th largest in the U.S.
• One of the Nation’s fastest growing Millennial populations in the U.S.
EMPLOYMENT TRENDS
• Healthy job market credited to diverse industries: established financial services, rapidly growing life sciences, new energy, and a booming IT and cybersecurity presence
• Educated, young workforce, low business costs, and city-backed financial incentives continue to attract startups and corporate relocations
• Top market for job seekers: steady employment growth and low unemployment levels
POPULATION GROWTH 2010-2020
EMPLOYMENT GROWTHDecember 2019
21% 17% 7%
2ND FAST GROWING CITY IN THE COUNTRYIncrease of 20,824 residents between 2017-2018
120 PEOPLE MOVING IN PER DAYPopulation of 1.6M expected to double by 2040
MILLENNIAL POPULATION AMONG FASTEST-GROWING IN THE NATION
COMPETITIVE COST OF LIVING, 13.1% LESS THAN U.S. AVERAGE
INTERNATIONALLY RECOGNIZED AS A LEADING PROVIDER OF CYBERSECURITY
LARGEST ACTIVE & RETIRED MILITARY POPULATIONS IN THE U.S.
Jobs (T-12) 34,200
Employment Growth in the U.S. 5th
San Antonio Unemployment Rate 2.9%Texas 3.5%
U.S. 3.3%
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“Clearly, San Antonio offers businesses a very high quality
lifestyle, low cost of living, abundance of higher education
institutions, and availability of skilled labor. The decision to retain our
headquarters in San Antonio was influenced by these factors, as well as the future potential for growth
and continued prosperity.”Jim Laffoon
SSFCU President and CEO
$15 Billion ANNUAL ECONOMIC IMPACT FROM
VISITOR SPENDING
ANNUAL VISITORS
37 MILLION
10.3MILLION ANNUAL
PASSENGERS 2018
JLL | ALAMO CONVENTION CENTER | SAN ANTONIO, TEXAS
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INTERNATIONAL TRADE CENTER
• Ideally positioned along the NAFTA corridor, handling 50%+ of Mexico-U.S. trade flow
• Logistical functionality bolstered by 1,900-acre multimodal Port San Antonio hub
• Large multinational corporate presence including Boeing, Lockheed Martin and Xerox
IT & CYBERSECURITY HUB
• Recognized by the NSA as one of the nation’s leading cities for cybersecurity activity
• Global employers including EY, PwC, Booz Allen Hamilton, Lockheed Martin and The Hut Group are expanding cybersecurity operations in San Antonio
STRONG MILITARY PRESENCE
• Known as “Military City” due to its long history of multiple military and defense installations
• Home to one of the greatest concentrations of active and retired military populations in the nation: 283,000+ military & military service employees in the MSA
• Four major military bases comprise Joint Base San Antonio (JBSA): Randolph Air Force Base, Fort Sam Houston, Lackland Air Force Base and Camp Bullis
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Jones Lang LaSalle Americas, Inc. or its state-licensed affiliate (“JLL”) has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than JLL, and neither Owner nor JLL, nor their respective equity holders, officers, directors, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser. JLL and owner disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change. The Property may be withdrawn without notice. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2020. Jones Lang LaSalle IP, Inc. All rights reserved.
GARRETT [email protected]
JOE DOWDLE [email protected]
SCHAFER [email protected]
CHRIS MCCOLPIN – DEBTSenior [email protected]
S A N A N T O N I O , T E X A S
LOCATED IN
OPPORTUNITYZONE