The James-Myers Multifamily Team of Marcus & Millichap Announces the Offering of Darby Square Apartments
SAN ANTONIO, TEXAS – Darby Square represents a value-add acquisition opportunity in west San Antonio, Texas.
Excellent Location: Darby Square Apartments is a value-add opportunity located in the strong West submarket of San Antonio. Situated on the periphery of downtown San Antonio, this property also boasts close proximity to Eagle Ford Shale, one of the largest oil and gas developments in the world based on capital invested. Located in the highly coveted I-35 Corridor, Darby Square has convenient access to US-90 West allowing for a quick commute to San Antonio’s central business district and famed Riverwalk. Consisting of 74 total units on approximately two acres abundant with Texas Live Oaks and mature palms, this well-manicured property provides attractive, quiet living opportunity within minutes of an abundance of major retail and economic drivers.
Strong Economic Drivers: Darby Square Apartments is strategically positioned within easy commute to Eagle Ford Shale which is fueling job and population growth in the region. Almost $30 billion will be spent developing Eagle Ford Shale in 2013, and the play had more than a $60 billion dollar impact on the local South Texas economy supporting over 116,000 jobs in 20 communities. The property rests between downtown San Antonio and Lackland Air Force Base. According to the Milken report of Best Performing Cities 2013, San Antonio boasts an exemplary ranking of 12th overall for job and wage growth. The city improved ten places in ranking versus the previous year demonstrating that it is poised for consistent future growth. Lackland AFB employs about 21,000 contract employees and family members, and the base recently completed a 300,000 square foot medical facility and continues to grow. The realignment and closure of military bases elsewhere in the country has actually fueled the growth of military medical-related operations in San Antonio.
Strong Multifamily Submarket with Barrier to Entry: Employment for the San Antonio Metro is projected to generate three times as many new jobs this year versus 2013. Year over year since 2010, rents in San Antonio have increased consistently at 3% per annum while maintaining a steady average vacancy of about 6%. Healthy economic trends in this metro are driving a rapid increase in new construction with over 4,700 new units planned for 2014, but Darby Square is located strategically in a submarket least affected by the planned new development. The strong history of occupancy and rent growth at Darby Square presents this as an investment for long term value-add appreciation in a thriving submarket.
For the complete marketing package, please sign the Darby Square Confidentiality Agreement.
For additional investment information, please contact:
Joe James | firstname.lastname@example.org | 512-338-7852
Kent Myers | email@example.com | 512-338-7853
Reynold Toepfer | firstname.lastname@example.org | 512-338-7866
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The James-Myers Multifamily Team of Marcus & Millichap has participated in the sale of more than 63 transactions since 2007 totaling over 13,000 units and more than $730 Million in sales across Texas. Contact us for acquisitions, dispositions, property evaluations or market information for your Texas apartments.