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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Historic Aztec Theatre has new owner, new seating, new retail, new…

Aztec_On_The_River-largeAfter a year of turning San Antonio’s historic Aztec Theatre into a modern concert venue, PHH Ventures’ Sam  Panchevre recently purchased the 112k SF mixed-use building. He has more conversions in mind in the building, including bringing out the largest block of Riverwalk frontage the market’s seen in nearly two decades.

Kennedy Wilson managing director Suzanne Havekost has been working on the Aztec Theatre since 1998, when Belgian billionaire Baron Theodore Bracht purchased it. 

PHH leased the 41k SF theater in 2013 and pumped $2M into redeveloping it.

Sam and Suzanne will be working on converting a couple different chunks of the building. The most exciting, Suzanne says, is the 15k SF of retail space on the river. The Aztec Theatre building has traditionally had a bunch of small retailers, but now she envisions one big user. There hasn’t been such a big contiguous chunk on the Riverwalk in more than 15 years, she tells us. Since the office market hasn’t been strong in the area, the team is also converting 30k SF of upper-level office space into another use, perhaps condos. One thing is staying the same–Iron Cactus expanded its lease long-term.

Click to read the entire article: Historic Aztec Theatre has a new owner, new seating, new retail, new… (BizNow.com, 1-14-15)

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