Latest tenant addition brings Class A industrial building to 100% leased as momentum continues in San Antonio submarket
Robinson Weeks Partners and Titan Development announced today the signing of a 115,000-square-feet lease with Westport Axle at Selma Industrial Park near San Antonio. Coming on the heels of two other recently secured leases totaling 190,000 square feet, this latest deal brings the Selma 2 building to full lease-up just months after opening.
John Colglazier Jr., Carlos Marquez and Kyle Kennan from Partners Real Estate represented the landlord in the transaction, while the tenant was represented by Jon Dandurand with Burr & Temkin.
Delivered in July 2022, Selma 2 is a 305,760-square-foot cross-dock warehouse facility that features 36’ clear height, 74 dock-high doors and 4 drive-in ramps, positioning the building as an ideal option for a variety of industrial users moving into the San Antonio submarket. The facility is in close proximity to I-35, a critical transportation artery for the region.
“The rapid lease-up of our Selma 2 facility demonstrates the power of a well-located, high quality industrial facility, as well as the strength of the San Antonio market, which has experienced strong leasing demand in recent years thanks to the region’s emergence as a major industrial hub,” said Matt Davis, Senior Vice President of Leasing and Development at Robinson Weeks. “We are proud to continue our partnership with Titan at Titan Industrial Park. As industrial users look to launch or expand operations in San Antonio, facilities such as Selma Industrial Park that have flexible space capacity and transportation connectivity will continue to command the largest share of leasing interest.”
Selma 2 will soon be joined by Selma 3, the second project between RWP and Titan in Selma, which will encompass 429,633 square feet at the industrial park. On track to be completed by August 2023, the spec facility will feature 36’ clear heights with clerestory glazing, 85 9’ by 10’ dock-high doors, 229 parking spaces, 143 trailer/flex storage spaces and 4 drive-in ramps with oversized 12’ by 16’ overhead doors.
“In the last three years, San Antonio has experienced outsized industrial demand that has only continued to rise as market fundamentals, including strong population growth, make the region a premier destination for e-commerce users and third-party logistics providers,” said John Colglazier Jr., Partner at Partners Real Estate. “Westport Axle came to Selma in search of more space to accommodate expanding operations, which Selma 2 could quickly supply. With a new speculative facility set to deliver in the coming months, we anticipate Selma Industrial Park will see another strong wave of leasing activity.”
Net absorption in San Antonio was 1.3 million square feet in Q4 2022, according to a JLL report, with total occupancy equaling 4 million square feet for the year. A slew of project deliveries in 2023 are expected to experience similar absorption as the market continues its upward trajectory.
“We are excited for the successful leasing and ongoing construction at Titan Industrial Park, which mark an exciting next phase of growth,” said Joe Iannacone, Partner at Titan Development. “We appreciate our continued partnership with the Robinson Weeks team as we work to expand the supply of quality space in the market while proactively addressing the evolving wants and needs of today’s industrial tenants.”
Selma Industrial Park offers more than 2.5 million square feet of industrial space across nearly 200 acres, and is home to users including Ben E. Keith, the fine food and premium beverage distributor, and O’Reilly Auto Parts, a leading retailer in the automotive aftermarket industry.
About Robinson Weeks Partners
Robinson Weeks Partners is an Atlanta based development and acquisitions firm, whose partners have developed and acquired more than 100 million square feet representing $5 billion of industrial properties across the United States since 1979. The boutique real estate firm structures ventures with public and private entities to develop master-planned industrial parks, and also creates exceptional build-to-suit programs across the country for clients needing a trusted and experienced advisor to acquire and develop their facilities. Its target markets include Atlanta, Memphis, San Antonio, Charleston, Memphis, Charlotte and Florida. To learn more, please visit https://robinsonweeks.com/.
About Titan Development
Titan Development is a leading Southwest full-service development and real estate investment firm with proven returns, via diversified asset classes across varied geographic markets. Titan has developed more than $3 billion in project cost since the firm was formed in 1999. Titan Development has a wealth of real estate development experience in many asset classes including private equity fund investment and management, and has offices in Austin, TX, and Albuquerque, NM. Since 2017, Titan Development has closed on a total of $329 million in private equity funds.
Titan Development closed its third fund, Titan Development Real Estate Fund III (TDREF III) at $122 million in May 2022, continuing its successful strategy of focusing on multifamily and industrial investing in secondary and tertiary markets. Titan’s previous fund, TDREF II, which raised $95 million, commenced in November of 2020, has identified all fund projects, and is investing in 13 projects in TX, NM, CO and CA. Titan’s inaugural fund, TDREF I, raised $112 million and invested in a variety of real estate asset classes.