Commercial Development

Commercial Development Case Study


  • Project:
  • Commercial Development.

  • Building Use:
  • Commercial Retail or Office Condos

  • Building Size:
  • 10,000 Square Feet

  • Property:
  • Site was a vacant infill parcel of just under one acre.

    This property was located within the SOUTH TEXAS MEDICAL CENTER expanding growth ring along a major feeder road connecting two growing areas of the city.

  • Location:
  • San Antonio, Texas

     

    Mesa Development Group (MDG) had been looking for an affordable infill development project in the Greater San Antonio area for flex retail or office condo project to develop at an affordable price point. After much searching and due diligence MDG identified a private owner with a property located along Eckhert Rd in Leon Valley which connects Bandera Road and Huebner Road to the South Texas medical center area.

    MDG approached the owners and made an offer to purchase the land directly from the owners saving them money on marketing, brokerage fees and closing costs based on the structure of the deal. We then set out on our due diligence phase with zoning and hearing meetings, engineering and design. MDG was able to purchase the property at an affordable price point that made sense for the construction of the retail or office condo project.

    Mesa Development Group then set out with site work, construction and marketing of the project. The project was brought to a shell state with finished landscaping awaiting a tenant or buyer. Kevin Manner was able to identify a single user tenant for the entire building and signed them to a 10 year lease.

    Two years after developing the project and getting it fully leased during the worst recession in United States history and at the height of the real estate market collapse MDG and Kevin Manner were able to identify a private investor to buy the project and it was sold for a profit.