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Texas

IDV plans 1M sf of warehouses in San Antonio

Houston-based developer expanding Alamo City portfolio

Investment & Development Ventures' Jarrad Coulter with Renderings of the planned warehouse
Investment & Development Ventures' Jarrad Coulter with Renderings of the planned warehouse (IDV, LinkedIn)

Investment and Development Ventures is moving forward with a San Antonio industrial park big enough to cause a quake in the city’s industrial market. 

The Houston-based developer filed plans with the state to build five warehouses for the project, called Park 35. Together, the buildings total just over a million square feet and have an estimated construction cost of $77.5 million. 

Plans on the firm’s website reference a sixth building that did not appear in the filings, but would add up to 350,000 square feet to the development. Park 35 would sit on 85 acres at 22867 IH-35 North, just off the highway to the northeast of downtown San Antonio. 

Site plans of the Warehouse
Site plans of the Warehouse (IDV)

Work is slated to begin in August and take a year. Each building is described in the filings as a shell warehouse with a spec suite included. Powers Brown is listed as the architect. 

Here’s how the project breaks down by building: 

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BuildingEstimated costSquare feet
Building 1$8.4 million86,000
Building 2$27.9 million168,000
Building 3$27.9 million558,700
Building 4$4.3 million86,500
Building 5$9 million178,900
Building 6UnknownUp to 350,000

The project site is a 15 minute drive from New Braunfels, one of the 15 fastest-growing cities in the country, according to Census data. Its population grew 5.7 percent last year as people flooding into Texas flock to boomtowns along the highway between Austin and San Antonio.

Investment & Development Ventures deals mostly in land, industrial and office projects in the Houston metro area. Elsewhere in Texas, the firm has a 4.4 million-square-foot industrial project by the executive airport in Austin, and a couple others in Corpus Christi and San Antonio. It also has one-off projects in Pennsylvania, Kentucky, Las Vegas and Oklahoma City.

In the first quarter of the year, there was 6.7 million square feet of industrial space under construction in San Antonio, according to a report from JLL. That total is just shy of the all-time record, 6.9 million square feet, set at the end of last year. Net absorption remained above 1 million square feet, though vacancy bumped up slightly to 7.3 percent as more new space came online.

Some 75 percent of new construction came in the northeast, near Park 35. The developer did not immediately return a request for comment.

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DevelopmentIndustrialSan Antonio