Scannell Properties Breaks Ground on 420k-SF Spec Industrial Park in Northeast San Antonio
20 May 2021
SAN ANTONIO – May 20, 2021 –CBRE announced that Scannell Properties (Scannell) has begun construction on Cornerstone Logistics Crossing, a Class A speculative industrial park that CBRE is actively marketing for lease. Located in the Northeast San Antonio submarket, the 28.8-acre, two-building development is expected to deliver in late Q3 2021/early Q4 2021.
The first building will total 224,220 sq. ft. and the second building will total 199,040 sq. ft., offering potential tenants up to 423,260 sq. ft. of industrial space that can be broken down into 30,000 sq. ft. increments. The development will have 32’ clear heights, flexible space configuration, concrete tilt wall constriction and ample trailer parking.
“Cornerstone Logistics Crossing fills an enormous need in the San Antonio industrial market as demand for new industrial space has been very high,” said Josh Aguilar, senior vice president with CBRE. “The strategically located properties will offer industrial users the modern efficiencies they are looking for, like easy accessibility to several major interstates and a robust labor pool.”
“We’re excited to enter the San Antonio market with our first speculative development,” said Ian MacDonald, senior development manager at Scannell Properties. “The market dynamics are compelling for large-scale industrial projects. We believe the cross dock and front load configurations will fill a void within this submarket that will provide prospective users between 50,000 to 200,000 sq. ft. with ultimate flexibility to facilitate their operation.”
According to CBRE Research, there were 14 projects totaling over 6.3 million square feet added to the San Antonio industrial construction pipeline in Q1 2021. Of the projects currently under construction, 74.5% of the space has been pre-leased.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.