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A projected student population increase of 400 percent expected to spur intense development around Texas A&M’s San Antonio Campus
SAN ANTONIO, March 25, 2014 – In-place infrastructure and utilities? Check. Rapidly expanding university? Check. Thriving job and economic growth, including a Toyota manufacturing plant just down the road? Check, check, check. These are the conditions of which developers dream, and those are the conditions currently surrounding Texas A&M’s San Antonio campus. It’s a prime site, one the Verano Land Group knows is ripe for picking, which is why they’ve now hired JLL to market it--one of the best development opportunities Texas has seen in decades. Approximately 1,800 acres of strategically assembled land surround the fastest growing campus in the state of Texas.
“The amount of interest we’re receiving from developers and investors alike is remarkable. They see the potential and are scrambling to get in on the ground floor,” said Liz Gagliardi, Vice President with JLL. “Not only does this site offer a prime location, with an exit right off Interstate 410, it also features in-place infrastructure and unparalleled natural amenities, including a 150-acre 30-foot deep lake. Student housing, retail, office, even residential—the development possibilities are limitless.”
And the city of San Antonio is invested as well, having approved development on the site for more than 12,000 residential units and 10 million square feet of commercial and industrial space. The property is also designated as part of a Tax Increment Reinvestment Zone (TIRZ), eligible for reimbursement of approximately $250 million in development and construction costs of public improvements on site.
“Developments of all types are being fueled by increasing demand and the city of San Antonio is responding by providing strong incentives to developers. We expect the buyer, the university and the city of San Antonio to enjoy a productive, collaborative relationship that will better the community,” said Joe DeSimone of Verano Land Group.
The site completely surrounds San Antonio’s new Texas A&M University campus, opened in 2009. School officials predict the student population will explode by more than 400 percent, from 5,000 to more than 25,000 students and 2,500 faculty members by 2025. And it’s not just this site that’s causing a buzz amongst the commercial real estate community. According to the Urban Land Institute’s Emerging Trends in Real Estate 2014, developers are excited about San Antonio’s shovel-potential, and the market leaped five spots higher in top market performance rankings, from number 19 to 14.
In 2013 alone, JLL’s Capital Markets completed nearly $99 billion in investment sales and debt and equity transactions globally. Over the past four years, Capital Markets has added more than 140 producers to its team in the Americas, with more than 1,400 specialists operating all over the globe. During that same time period, the firm grew its Americas Capital Markets revenues by nearly 600 Percent.
For more news, videos and research resources on Jones Lang LaSalle, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.
About JLL JLL (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $4 billion, JLL operates in 75 countries worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3 billion square feet and completed $99 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $47.6 billion of real estate assets under management. For further information, visit www.jll.com.
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