A positive growth is recorded for the city of San Antonio, Texas as commercial property sales increase in 2010 compared to 2009. But, according to a report, the city’s northern part is still struggling with the economic crisis, which can stifle the continuous growth in the city — in terms of commercial property sales.
Commercial real estate sales in Connecticut, like San Antonio has also shows significant developments for the fourth quarter of 2010 — about 62 percent increase, according to Jones Lang LaSalle, a real estate company.
According to a recent report from a commercial real estate listing service, LoopNet Inc, total commercial property sales in San Antonio area increases to $732 million in 2010, compared to $371 million in 2009 — about 97 percent in commercial property sales.
The last quarter of 2010 shows the most significant change for the commercial real estate market — in commercial property sales compared to the earlier quarters last year. The fourth quarter shows 8 percent increase compared to the third — $310 million, nearly matching the commercial property sales in 2009.
Retail sales for 2010 also increased by 500 percent — $99 per square foot from $17 per square foot in 2009. Sales for commercial office space also increase to $256 million last year from $53 million in 2009.
According to the president of DH Realty Partners Commercial Properties, commercial real estate management and brokerage company in San Antonio, most of the recorded commercial real estate activities were in the northern part of the city, but migration in the area hurt the market.
He also said that if many people will relocate in the area, the situation can still be reverse, but in general, the situation did not affect the overall commercial real estate sales in the city.