As commercial real estate markets nationally continue to heat up, that trend is poised to continue in the San Antonio, with one firm seeing room for growth in the shadows of the Alamo. 

In a news release, Ryan Harrison, CEO of Merit Commercial Real Estate, notes that while news reports from cities like San Francisco and New York can paint a gloomy picture for the commercial real estate sector, the same cannot be said for San Antonio. 

"The San Antonio office market has remained exceptionally strong by comparison to other major cities,” Harrison said in the release. 

Taking advantage of the opportunity, in late November Merit Commercial Real Estate finalized the acquisition of Park Tech Center I & II, a nearly 200,000-square-foot two-building office project, which marked Merit’s first notable investment in the San Antonio commercial market, according to the statement. Terms of the acquisition were not provided. 

Merit noted that, while Fortune 500 companies in cities around the country are postponing plans to return to the office, with many even turning to hybrid or fully remote plans, many San Antonio companies, including tech firms, are moving forward and returning to the workplace, which sparked the company’s first investment in the market. 

Harrison noted in the release that the investment in the property, which was purchased from New York-based Clarion Partners, represents the company’s confidence in the strength of the local market, with San Antonio positioned to take full advantage of the positive business environment in the Lone Star State.