JLL’s capital markets team has been named to market for sale a 14.7-acre development site in the Pearl/Museum District of San Antonio, Texas. Centrally located one mile from downtown San Antonio, 2.5 miles from Alamo Heights and just a few blocks from the Riverwalk, the site is ideal for a variety of asset classes.
The development site is immediately across Broadway to the east of Pearl, an iconic mixed-use development offering upscale residential living, eclectic retailers, popular eateries and office space that is home to Fortune 500 companies and major regional employers. Additionally, the site benefits from its location just two blocks from the world-famous San Antonio Riverwalk. The linear park is a popular attraction for local San Antonio residents and tourists alike. The site has excellent roadway access with a central location at the confluence of Highway 281, Interstate 35 and Broadway Street.
The JLL Capital Markets team representing the seller for this offering is led by managing directors Davis Adams and Chuck King, along with senior managing director Michael Swaldi and director Garrett Gilleland.
“This is a generational opportunity to acquire a site that offers scale, along with an irreplaceable location in a proven area of success for the highest quality residential, office, hospitality, restaurant, retail and entertainment development projects,” said King. “The availability of this site and the ability to develop it to its maximum potential will draw local interest and new interest from investors, companies and residents from across the nation and beyond further defining San Antonio as a world class city.”
“The owners have retained JLL for our national and international reach. We are seeking a developer or investor that recognizes the significance of this opportunity and has the financial resources and vision to capitalize on the full potential of the development site,” said Adams.
San Antonio has seen impressive and expanding economic activity in recent years and is currently the second fasting growing city in the country. Approximately 120 people move to San Antonio each day and the population of 1.6 million is anticipated to double by 2040, many of those being millennials. The city has been ranked as No. 1 America’s Next Boom Town by Forbes, a Tech Hotspot by Inc., and a Top 5 for Economic Performance by Brookings. New residents are drawn to the competitive cost of living which is currently 13.1 percent less than the U.S. average, the healthy job market and low business costs.
