As San Antonio’s office market weathers historically high vacancy rates, Stream Realty and McCombs Properties are moving ahead on an industrial chunk of a sprawling business park near Kirby.
The firms filed plans to build a 200,000-square-foot shell warehouse at 6719 IH 10 East, a stretch of property along Interstate 10. The building will be part of the , Stream and McCombs’ 100-acre master-planned development that calls for a mix of office, retail, industrial and warehouse space. The structure is part of a four-building, 800,000-square-foot “phase three” for the park, which abuts the interstate for more than a mile.
The warehouse is getting underway as a spec project, according to Payton Rion, Vice President at Stream Realty Partners in San Antonio. Its location would make particular sense for a logistics operation, as it sits near the meeting point of I-35, which leads to Austin and Dallas, and I-10, which runs straight to Houston.
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McCombs began acquiring the land for Gateway more than 15 years ago, deed records show. The firm partnered with Stream, and the project’s first phase, a 180,000-square-foot warehouse, broke ground in 2017. Dallas-based Meinhardt & Associates Architects is listed as the project designer.
Office vacancy in San Antonio is nearly 18 percent, as over 8 million square feet of space sits empty, according to a recent report from JLL. That is well above the roughly 13 percent vacancy rate typical of the decade preceding the pandemic. Absorption did tick up in the third quarter, though, and a handful of other Class A spaces are slated to open before the end of the year, including the Jefferson Bank Building at 1900 Broadway Street.