Stonelake Captial Partners have 500,000 square feet of industrial space in the pipeline. The investment firm, which owns Pan Am Distribution Center along the I-35 corridor, has acquired adjacent property for new industrial space. These new Class-A buildings will range from 95,000 to 150,000 square feet each, adding to the existing 5 class A buildings (680,000 square feet) at Pan Am. Construction is expected to be completed by fall and would bring their total space to 1.2 million square feet.
This development comes as rates for industrial space have hit record highs, $7.23 at the end of 2014 according to a report released by CBRE Group. Demand is being driven by San Antonio’s population growth and subsequent need for more distribution space.