Houston, Texas

Houston, TX, December 1, 2008 – The Houston office of Colliers International is pleased to announce the sale of Schertz Retail Plaza located at 6000-6008 FM 3009, in Schertz, Texas, approximately twenty miles northeast of San Antonio. The 19,681-square foot center includes 2.25 acres of land strategically situated near Interstate Highway 35 in a heavily trafficked area with high visibility at an intersection entrance to a WalMart supercenter. Built in 2006, the property was 93 percent leased upon closing with national and regional tenants including JPMorgan Chase, TriCounty Dental, D&B Wine & Spirits, Great Clips, Game Stop, Ace Cash, EmbroidMe, and Touchtel Wireless.
Christopher D. Winters, Principal and Director of Investments in the Houston office of Colliers International, represented the seller, SDI Realty, in the transaction. New Mexico-based investment group Schertz Retail Plaza, L.L.C., acquired the property in a 1031-exchange.

Christopher Winters stated, “Schertz is an excellent example of the growing demographic strength of smaller Texas communities in close proximity to major metros. Former bedroom-communities around Texas are being transformed by increased population with strong buying power as major metros continue expanding into outlying areas. For their part, developers and retailers – both national and regional – are responding to these demographic trends by targeting these underserved communities and relieving them of long-commutes for their retail needs.”

“Schertz has a particularly healthy demographic profile, with average household incomes within a one-mile radius of the Schertz Retail Plaza well above $83,600, as well as a highly-educated and relatively young workforce,” Winters added. “Strong residential growth will continue to drive the expansion of retail services, which in turn, will attract investors seeking stable assets with strong growth potential.”

According to the U.S. Census Bureau and the Schertz Economic Development Council, the city of Schertz has seen a significant population increase since 1990, with a compound annual growth rate of approximately 7 percent. The current estimated population of 30,627 residents is expected to increase an additional 21.5% over the next five years (between 2008 to 2013), with incomes levels also projected to continue strong over the next two decades.

About Colliers International

Colliers International is a global partnership of independently owned commercial real estate firms. The organization's 11,000 employees span the world in approximately 293 offices in 61 countries. On a worldwide basis, Colliers manages 868 million square feet, and has revenue in excess of $2.0 billion.

For over 50 years, Colliers International has provided real estate solutions to many of Houston’s leading corporations, institutions, and small businesses, making us the longest-standing full-service firm in the Greater Houston area. Our services include owner and tenant representation in leasing, acquisition, sale and financing for office, industrial, retail, multifamily, medical, investment, mixed use development and land.

Contact Information

J. Fred Baca
President
713.830.2125
fbaca@collierstexas.com 

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