DOWNTOWN SAN ANTONIO, TEXAS VILLITA ASSEMBLY BUILDING
OPPORTUNITY ZONE
TWO OFFICE BUILDINGS | TWO PARKING GARAGES | SURFACE PARKING LOT PREMIER REPOSITIONING OR REDEVELOPMENT OPPORTUNITY | COVETED RIVER WALK LOCATION THE INVESTMENT OPPORTUNITY
CBRE, as exclusive advisor, is pleased to present to qualified investors a unique opportunity to acquire the Villita Assembly Building. The building is exceptionally positioned on the south bank of the San Antonio River near La Villita Historic Arts Village (La Villita) in the heart of downtown San Antonio. The Villita Assembly Building offers investors a quality, 100% fee-simple interest in this property.
As an iconic free standing event center, the Villita Assembly Building’s location along the world-famous River Walk — an urban waterway described as “The INVESTMENT HIGHLIGHTS American Venice”, attracts over 11 million visitors and has an annual economic impact of $3 billion. The property is located adjacent to La Villita, which is San Antonio’s first neighborhood is entered in the U.S. government’s National Register of Historic Places. This well-timed opportunity also coincides with an Existing Improvements & Infrastructure unprecedented wave of public and private investment across downtown San Ideal for Repositioning Antonio with major developments totaling more than $2.5 billion. o Event Center/Activation Space o Multi-Tenant or Single-Tenant Use The Villita Assembly Building offers superb convenience and highly walkable amenities with La Villita Historic Arts Village, the Henry B. Gonzalez Convention Prime Redevelopment Potential Center, Hemisfair, Tower of the Americas, Briscoe Western Art Museum, Shops o Creation of High Traffic Entertainment or Cultural Amenity at Rivercenter, numerous restaurants and hotels as well as some of the city’s o Zoning Accommodates Flexible Uses most significant points of interest — including The Alamo. o Located in a Federal Opportunity Zone
Coveted CBD Submarket The Villita Assembly Building is located in a Federal o Premier 24/7 Mixed-Use Urban Destination Opportunity Zone, a designated area where new investments o Single-Digit Vacancy Rate (Office, Residential, Hotel, Retail) may be eligible for federal tax benefits, including the o Attracts Over 11 Million Visitors and has an Annual reduction and deferral of capital gains taxes. Economic Impact of $3 Billion
Presenting an opportunity to own an iconic building for Vibrant San Antonio Marketplace repurposing or redevelopment along San Antonio’s River o Top 20 Market for Investment Walk, Villita Assembly Building is a truly generational o Leading Population & Job Growth VILLITA ASSEMBLY BUILDING ASSEMBLY VILLITA investment offering.
1 ASSET PROFILES
San Antonio River | River Walk S Presa Street
Main Office Building 401 Villita Street Address San Antonio, TX 78205 # of Stories Single Story with Basement Net Rentable ±24,785 SF Area Year Built 1958 Villita Street Site Size 1.113 Acres Zoning D (H, HE, RIO-3) Permitted Office, Retail, Hotel, Uses Include Residential S ummary E xecutive Note: All sizes above are approximate and to be verified by buyer. 2 EXCEPTIONAL REPOSITIONING OPPORTUNITY
Ideal Event Center Space/Full-Time Activation for Entertainment Offered free and clear of existing financing, the or Educational Experience Villita Assembly Building allows investors to take Numerous Possibilities Include Renovation, Expansion or Redevelopment advantage of historically strong lending markets, Adaptable for a Single User or As a Premier Multi-Tenant Property generating significant leveraged returns.
Lease up of Prime Vacant Space Significant Value in the Lease Up of 24,785 SF of Existing Contiguous Multi-Level Space Along the River Walk Established Infrastructure, Amenities and Market Presence
Limited Availability Creates Upward Pressure on Rents Robust Demand has Produced Strong Office and Retail Vacancy and Five Year Rent Growth of Over 50% Iconic, Generational Site Along the River Walk Available for Purchase and Development Purchase & Development
Timely Opportunity to Compete for Large Tenants One Block of CBD Class A, Contiguous Office Space Greater Than 50,000 SF Rents Range from $38.00-$42.00 PSF (NNN) in Existing and New Construction No Retail Opportunities in CBD of this Size and Location
Well Positioned to Capitalize on Demand for Parking Large Number of Events Hosted in Downtown San Antonio Few if Any that WouldRival the Villita Assembly Duilging VILLITA ASSEMBLY BUILDING ASSEMBLY VILLITA
3 VILLITA ASSEMBLY BUILDING
San Antonio River Walk
ZONING
CITY OF SAN ANTONIO RIO-3 OVERLAY EXAMPLES OF ZONING MAP DISTRICT INFO & MAP PERMITTED USES
The Villita Assembly Building is located in a Federal Opportunity Zone and is listed in the U.S. RIO Villita Street
Government’s National Register of Historic Places. S ummary E xecutive
4 PREMIER REDEVELOPMENT SITE
Flexible Zoning: Creation of a True Destination Event/Entertainment/ Retail/Cultural Education Space | River Walk Frontage A Property of this Quality Only Comes Along So Often Provides an Iconic and Generational Investment Opportunity
Opportunity to Generate Value-Add/New Development Returns Offered at a Discount to the Existing Economic Basis of Competitive Properties Control of a Unique, Large Scale Site in the San Antonio CBD
Superior Accessibility Exceptional Ingress/Egress Less Than One Mile to I-10, I-35 and I-37
15 Minutes South of San Antonio International Airport VILLITA ASSEMBLY BUILDING ASSEMBLY VILLITA
5 ON-SITE AMENITIES
Adjacent to the Arneson River Theatre
Villita Assembly Building Commercial Kitchen and Outdoor Plaza
Banquet Hall View
Direct Access to S ummary E xecutive the River Walk 6 VIBRANT CBD SUBMARKET
Major Companies with a Significant CBD Presence Mixed-Use, 24/7 Environment Urban Infill Location with Strong Barriers to Entry Development Investment of More Than $2.5 Billion Exponential Residential Growth Pedestrian Friendly with Mass Transit Access Attracts Decision Makers and Young Professionals
CBD’s Excellent Market Fundamentals | First Quarter 2019
Office Snapshot Inventory: 6.2 MSF Occupancy: 89.5% Class A Avg. Asking Rents: $31.18 PSF (Gross) Total Net Absorption (2018): 85,224 SF Source: CoStar | Excludes owner-occupied properties.
Multifamily Snapshot Inventory: 5,120 Units Occupancy: 91.6%* Class A Avg. Asking Rents: $2.01 PSF (Monthly) Total Net Absorption (2018): 230 Units Source: CoStar | *Excludes properties in lease-up.
Hotel Snapshot Inventory: 14,470 Rooms & Suites Occupancy: 71.3% Revenue Per Available Room: $110.49 Average Daily Rate: $155.06 Source: CBRE Hotels Research (YE 2018)
Downtown San Antonio’s population of Retail Snapshot nearly 19,000 is up 30% since 2010 and is Inventory: 4.4 MSF projected to grow another 14% by 2023 — Occupancy: 97.2% exceeding 21,600 residents. Average Asking Rents: $21.36 PSF (NNN) EXECUTIVE SUMMARY S ummary EXECUTIVE E xecutive Street-Level Retail Rents: $18.00-$24.00 PSF (NNN) Source: CoStar 7 VIBRANT SAN ANTONIO MARKETPLACE
America’s 7th Largest City University of Texas at San Strategic Geographic Location Antonio Emerging City & Workforce of the Future
10 to Austin Increasingly Diverse Economy San Antonio (90 Minutes) International Expanding Tech, New Energy & Healthcare/Bioscience Employment Airport 35 Strong Financial Services, Military & Advanced Manufacturing Presence 410 to Texas Hill Country (1 Hour) Pro-Business Environment 281 Low Costs of Living and Doing Business Gross Metro Product of $116 Billion — up 4.5% Year over Year
VILLITA ASSEMBLY BUILDING Rapidly Growing Population to Houston 10 #1 Large City for Population Growth (3 Hours) UTSA #4 Large Metro for Millennial Population Growth Downtown Campus
90 SAN ANTONIO Strong Job Growth CBD 131,000+ Net New Jobs (Last Five Years) Port San Antonio Five-Year Growth Rate of 14% Lackland Air Force Base
Brooks City-Base 37 Very Low Unemployment 3.4% Compared to National Average of 4.1% (Seasonally Adjusted)
Lowest Unemployment Rate since 1999 35
410
to Laredo to Corpus Christi (2.5 Hours) (2 Hours)
281 Urban Land Institute and PwC ranked San Antonio the #20 market for investment in their “Emerging Trends in Real Estate 2019.” VILLITA ASSEMBLY BUILDING ASSEMBLY VILLITA
8 1604 VILLITA ASSEMBLY BUILDING
EXCLUSIVE MARKETING ADVISORS
GENE WILLIAMS First Vice President 210.253.6027 [email protected]
DEBT & STRUCTURED FINANCE
CASEY KNUST Executive Vice President 512.499.4950 [email protected]
For additional information regarding this opportunity, please visit the property website at www.cbre-villitaassemblybuilding.com
© 2019 CBRE, Inc. All rights reserved. This information has been obtained from sources believed reliable, but has not been verified for accuracy or completeness. You should conduct a careful, independent investigation of the property and verify all information. Any reliance on this information is solely at your own risk.
CBRE and the CBRE logo are service marks of CBRE, Inc. All other marks displayed on this document are the property of their respective owners, and the use of such logos does not imply any affiliation with or endorsement of CBRE.
Photos herein are the property of their respective owners. Use of these images without the express written consent of the owner is prohibited.