A gem of a location
A massive piece of San Antonio is hitting the market.
A 14.7-acre parcel of land next to the popular Pearl mixed-use development is now on up for grabs, real estate firm JLL Capital Markets, who is overseeing the sale, announced last week.
The land is prime for development, JLL says in a release, especially considering its prime location along Broadway, just east of the iconic Pearl. Additionally, it's located just two blocks from the River Walk, a mile from downtown, and offers "excellent roadway access with a central location at the confluence of Highway 281, Interstate 35, and Broadway Street."
“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 managing director Davis Adams in a January 20 release.
JLL did not offer a sale price for the 15-acre plot, saying instead that the land is "ideal for a variety of asset classes" while touting San Antonio's continued growth and popularity even as the pandemic rolls on. Like the rest of Texas' big cities, San Antonio continues to attract new residents, enough that demographers predict it may surpass Philadelphia this year to become the nation's sixth largest city.
“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," said managing director Chuck King.
Interest in the property has been strong, the company says, and rather than set a price, JLL has set a call-for-offer date of February 4.
“This is a generational opportunity to acquire a site that offers scale," King continued, "along with an irreplaceable location in a proven area of success for the highest quality residential, office, hospitality, restaurant, retail and entertainment development projects."