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GlobeSt.com EXCLUSIVE: Toyota Impact Measured

SAN ANTONIO-Grubb & Ellis Co.'s San Antonio research team says an 800,000-sf user has eyes for one site that Toyota passed up. But, that's just the tip of the iceberg as users and investors start to shop the market now that Toyota's coming to town.

By Tim Green | Updated on February 11, 2003

SAN ANTONIO-Toyota Motor Corp.’s decision to build a two-million-sf truck assembly plant in San Antonio puts the city on the fast track to big changes, especially in its commercial real estate markets.

The plant will bring demand for more industrial facilities in south Bexar County, an area that’s been virtually ignored by all types of commercial development. Beginning with a sharp increase in the land market, an upswing in the industrial market will follow with residential and retail development not far behind, according to a Grubb & Ellis Co. study on the plant’s impact.

The site is large enough for Toyota’s two-million-sf plant and another plant, if it expands. “It was far enough, it was flat enough and it had all the utilities,” Kit Corbin, the Grubb & Ellis land manager who conducted the site search, tells GlobeSt.com. “It was perfect for Toyota.” For previous story, click here.

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