Rockspring Capital, a privately-owned real estate investment firm headquartered in Houston, today announced the acquisition of a 10-acre commercial tract in San Antonio located at the corner of Military Drive and Loop 1604 inside the booming Westover Hills neighborhood.
“The far West Side of San Antonio is a great investment area in terms of potential appreciation,” said Jim McAlister IV, President and CEO of Rockspring Capital. “This land tract is located at a busy intersection from two of the city’s major corridors, making it an ideal location for numerous mixed-use retail users.”
The property is positioned only seven miles west of downtown and is surrounded by significant residential subdivisions, commercial uses, new business facilities as well as the popular Sea World amusement park.
“We’re working quickly to get this site development ready as the demand for quality tracts like this, especially in the Westover Hills area, continues to grow,” said David Orr, Rockspring Capital’s Central Texas Project Manager. “We don’t anticipate a long holding period for this site as we’re already in discussion with potential buyers.”
Rockspring announced the addition of Orr to its acquisition team last month. He is responsible for property acquisition and enhancement activities in the Austin and San Antonio areas as the firm is looking to bulk up its presence and assets in these lucrative and rapidly expanding major metros and submarkets.