Industrial Tenant Sizes Continue to Increase in San Antonio
Foster Ridge Distribution Center, a 327,000-square-foot class-A distribution facility, recently sold to Conshohocken, PA-based Exeter Property Group from San Antonio-based seller Koontz Corporation.
SAN ANTONIO—E-commerce continues to charge ahead and activity in the River City is no exception. One of the latest examples is Foster Ridge Distribution Center, a 327,000-square-foot class-A distribution facility, which recently sold to Conshohocken, PA-based Exeter Property Group. The price was undisclosed.
Developed by San Antonio-based Koontz Corporation and completed in October 2019, the industrial facility is located at 6611 Lancer Blvd. near the intersection of Foster Road and IH-10 E in Northeast San Antonio.
The building features 32-foot clear height, 75 dock-high overhead doors, four ramps, ample trailer storage, 130-foot truck courts on either side of the building and an early suppression fast response fire sprinkler system. It is designed to accommodate a large single user or multiple smaller tenants.
“We planned Foster Ridge Distribution Center to address the increasing demand for state-of-the-art distribution facilities in San Antonio due to the rapid expansion of e-commerce and larger tenants looking to move into our marketplace,” said Bart Koontz, Koontz Corporation president and CEO. “With its prime location and state-of-the-art amenities, Foster Ridge will be an ideal facility for a tenant in any number of industries.”
Trent Agnew of Jones Lang LaSalle represented Koontz Corporation in the sale. The buyer was self-represented.
“We are seeing tenant sizes continue to increase and Foster Ridge is the largest vacant new construction building in the San Antonio market,” Agnew tells GlobeSt.com. “It has all of the bells and whistles from a building specs standpoint that larger users have come to demand.”
The Federal Reserve Bank of Dallas reported that San Antonio’s metro unemployment rate ticked down to a still-elevated 11.8% in May, lower than the state and national rates of 13% and 13.3%, respectively. Since early May, San Antonio consumer spending (measured by credit and debit card spending) has improved more than other cities in Texas.