Property Description

Vacant lot in Northcliff. This land it zoned for office and commercial. The Property has preliminary approval from the City of Schertz for eight flex office buildings totaling 64,800 square feet. The planned multi-tenant use development is strategically targeted to meet office uses for healthcare, entrepreneurial and professional uses. The office vacancy rate within a five-mile radius is 5.1 percent for 646,000 square feet of total inventory with a trailing twelve absorption rate of 52,000 square feet and only 31,000 square feet under construction (or 4.8 percent of the total inventory). Given the aforementioned statistics, flex office is projected as the highest and best use in order to meet the project growth demands along the I-35 corridor. Within a five-mile radius, the Property has a populous of 92,224 people with 34,064 household pursuant to estimates for 2023. Since 2010, the immediate area has enjoyed over a forty-four percent cumulative growth rate with an expected continued growth rate of an additional ten percent through 2028.