SAN ANTONIO—Houston-based Rockspring Capital has acquired a 10-acre commercial tract in San Antonio located at the corner of Military Drive and Loop 1604 in the Westover Hills submarket.

“Rockspring was able to secure this prime piece of property in a booming San Antonio submarket because of our ability to close deals in a quick timeframe with our all-cash acquisition model,” Jim McAlister IV, president and CEO of Rockspring Capital, told GlobeSt.com. “This land tract acquisition is a great example of how we operate and our expertise in Texas real estate investments.”

The property is positioned seven miles west of downtown and is surrounded by residential subdivisions, commercial uses, new business facilities, as well as SeaWorld.

“We're working quickly to get this site development ready as the demand for quality tracts like this, especially in the Westover Hills area, continues to grow,” says David Orr, Rockspring Capital's Central Texas project manager. “We don't anticipate a long holding period for this site, as we're already in discussion with potential buyers.”

Rockspring announced the addition of Orr to its acquisition team last month. He is responsible for property acquisition and enhancement activities in the Austin and San Antonio areas. The firm is looking to bulk up its presence and assets in the “lucrative and rapidly expanding major metros and submarkets.”

“The far west side of San Antonio is a great investment area in terms of potential appreciation,” McAlister says. “This land tract is located at a busy intersection from two of the city's major corridors, making it an ideal location for numerous mixed-use retail users.”