Transwestern chief optimistic –
Head of commercial real estate firm sees good 2011 for S.A.
By Katherine Feser
Excerpt from interview with Larry Heard, who has served as president and CEO of parent company Transwestern Interests since 2002
Q: San Antonio fared better than most markets during the downturn. Why is that, and what can we expect going forward?
A: San Antonio in particular and Texas in general did outpace most other U.S. markets during the downturn.
Several factors contributed to the success, most notably San Antonio’s affordable cost of living, a pro-business environment and an educated work force.
In particular, the office sector should show steady improvement in 2011 because of the space demand from newly relocated businesses and organic growth of existing companies finding a limited amount of new supply in the city’s development pipeline.
Multifamily properties will also enjoy healthy occupancy and rental rates as the current residential financing environment continues to be a challenge for homebuyers.
In short, San Antonio is the type of friendly, affordable, pro-growth city targeted by a number of corporate relocation candidates.