NewFound plans industrial on S.A. parcel

Plans for 194 acres that NewFound Partners recently acquired from ExxonMobile have been revealed. 

The Houston-based firm, which bought the property at 7711 and 13976 Quintana Road for an undisclosed amount less than a week ago, will develop the land for industrial use, the Houston Business Journal reported. 

San Antonio has emerged as an industrial hub. Industrial vacancies hit a record low in the city last year, with a net absorption of 8.7 million square feet by the end of the third quarter. 

Newfound cofounder Brad Elmore said he contemplated various ideas for the newly acquired land, located next to the 505-acre Pearsall Park in San Antonio’s Southwest Side.

“There’s a big rail presence, so it could have an intermodal aspect to it,” Elmore told the outlet. “We also have experience developing renewable energy assets, so we think this could be a really good utility-scale battery site in consideration of the power infrastructure that is right there.”

There’s no timeline for the future of the property, he said. With rising interest rates and other economic factors, the firm doesn’t plan to develop the site right away, Elmore said.

NewFound also owns 43 acres across the road from Toyota Motor Manufacturing Texas, east of Interstate 410, where Elmore expects to build one or two industrial buildings up to 800,000 square feet, the outlet reported. 

Other notable ventures in San Antonio’s warehouse sector include Stream Realty and McCombs Properties’ plan to construct a 200,000-square-foot facility along Interstate 10 as part of a mixed-use project. 

And Dallas-based Mohr Capital recently bought the 439,000-square-foot industrial building at 7015 Lancer Boulevard, which has been 100 percent leased by Tesla since October 2022. 

—Quinn Donoghue 

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