A Dallas-based commercial real estate firm plans to break ground Thursday on a large industrial park near the San Antonio airport.
Stream Realty Partners, which acquired the 45 acres of land north of Wurzbach Parkway at U.S. Highway 281, northwest of the San Antonio International Airport late last year, expects construction to be complete in August 2023.
The Interpark Logistics Center will have five industrial buildings ranging between 119,600 and 155,476 square feet, each with 24 dock doors and drive-in ramps. The cost to construct the buildings is estimated at $41 million, according to filings with the Texas Department of Licensing and Regulation.
A spokesman for Stream Realty said no tenants have been identified, but the buildings are intended for warehousing companies that have an office and showroom component, as well as last-mile distribution and e-commerce businesses.
The number of such facilities is increasing across the San Antonio metro region as the demand from e-commerce and last-mile logistics businesses grows.
In 2021, new leases on about 4.2 million square feet of industrial real estate in the region entered the market, more than triple than in 2020, according to commercial real estate firm CBRE.
Bordered by West Avenue and Interpark Boulevard, the business park will be accessible via eight entry points along Wurzbach Parkway and 281. San Antonio-based R.C. Page Construction is the general contractor.
“This project represents one of the last true infill opportunities in San Antonio and is an ideal location for last-mile distribution users, showrooms, and warehouse companies needing a central location to service their customers,” stated Michael Kent, executive vice president of Stream’s San Antonio industrial team.
With offices in cities throughout the country, Stream owns 38 properties totaling 17.5 million square feet and has $2.2 billion in assets under management, according to a statement from the company.
In San Antonio, Stream represents a number of Class A office and warehouse projects, said a spokesman, adding that Interpark is unique among them in terms of its location and design.