As the Eagle Ford shale has grown and produced jobs, economic activity from the play has pushed into San Antonio from rural areas, given San Antonio its very own energy corridor of sorts.
In the past few years, industrial activity has moved from the rural counties where shale production takes place into southern Bexar County. Companies like Halliburton Co., Baker Hughes, Weatherford, and Schlumberger, have been opening Eagle Ford operations near Loop 1604 and I-37.
Halliburton’s new operations center just opened its doors in September 2013 on Loop 1604, and plans to employ 1,000 people there. The company said the new building is the largest center it has built from the ground up in the U.S.
Permanent housing for oil field workers and space for companies that supply the large oil and gas companies are also popping up there.
Although it’s a market that could dry up suddenly, building owners are counting on being able to make a return on their investment before that turn happens. Some buildings are leasing for twice as much per square foot as industrial space in San Antonio typically goes for – $6 to $12 per square foot annually, compared with typical rates of $4 per square foot annually.