Hilco Real Estate Announces The Sale Of A Multifamily Development Parcel In San Antonio, TX

News provided by

Apr 29, 2021, 13:34 ET

NORTHBROOK, Ill., April 29, 2021 /PRNewswire/ -- Hilco Real Estate LLC announces the sale of a 3.25-acre multifamily development parcel within the South Texas Medical Center. Located in San Antonio, this property is an ideal site for commercial or multifamily development, and it has potential for up to 85 to 90 units. Conveniently located near I-10 and Loop 410, the site offers immediate access to some of San Antonio's most important employment centers, as well as proximity to a variety of retailers, restaurants, entertainment districts, and other major destinations.

This site represents one of the last remaining undeveloped infill land parcels within the South Texas Medical Center. The property is zoned C-2 but is grandfathered for MF-33, and no rezoning will be required to construct a multifamily complex allowing for a maximum density of 33 residential units per acre. The seller replatted the property in 2019 and cleared the drainage easement for construction. The parcel is proximate to the Bright Ideas Children's Enrichment Center, HealthSouth Rehabilitation Institute of San Antonio (Riosa), Robert F. McDermott Elementary School, San Antonio Medical Center, South Texas Medical Center, USAA Headquarters & other hospitals and medical centers. The Fredericksburg North Shopping center is nearby, as well as other surrounding national retailers such as Chase Bank, Chick-fil-A, Courtyard by Marriott, Domino's Pizza, IBC Bank, KFC, Sonic Drive-In and Whataburger.

San Antonio has a metro area population of approximately 2.5 million people, making it the sixth largest city in the U.S. As one of the fastest-growing cities in the United States, San Antonio has continued to expand with an estimated population growth of 7.81% within one mile of the property over the next five years alone. Four Fortune 500 companies and the South Texas Medical Center, the only medical research and care provider in the South Texas region, have headquarters within the city. With the largest industries in San Antonio being healthcare and social assistance, according to Data USA, this property is in a prime development position being surrounded by numerous hospitals, medical centers and educational facilities. The U.S. Armed Forces have numerous facilities in and around San Antonio including Fort Sam Houston, Lackland Air Force Base, Randolph Air Force Base, Kelly Air Force Base, Camp Bullis, and Camp Stanley, according to Joint Base San Antonio. In 2001, the Kelly Air Force Base had parts of its base developed as Port San Antonio, an industrial business park and aerospace complex housing 80 distinct companies as tenants. In addition to being an industrious city, San Antonio is a popular tourist destination, featuring The Alamo and downtown's River Walk connecting various parks, museums, theaters, shops, restaurants and even Mission Espada, one of the city's five Spanish colonial missions named an UNESCO World Heritage Site.

Steve Madura, senior vice president at Hilco Real Estate said, "Whether as a commercial or residential property, this development opportunity is perfectly set for any investor or developer to take advantage of the city's existing stability and continual growth." He continued, "Ultimately, this sale provides an incredible opportunity for a variety of developers and investors alike."

The offer deadline is Wednesday, May 19 at 5:00 p.m. (CT). For further information on the property, an explanation of the sale process and Terms of Sale, and to obtain access to the Virtual Data Room containing all the property due diligence, please visit HilcoRealEstate.com or contact Steve Madura at (847) 504-2478 or [email protected].

For more information about this or other properties available for sale, please visit HilcoRealEstate.com.

About Hilco Real Estate
Hilco Real Estate ("HRE"), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.

SOURCE Hilco Real Estate