REOC San Antonio
Commercial Real Estate Since 1974   
Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

Got a Commercial Real Estate Need or Question?


Ask One of Our Trusted Advisors

The Retail Connection set to build Walmart-shadowed retail development in Southwest San Antonio

big bite excavatorIf there is land on a main road, room for a small grouping of pad sites and is close to a Wal-Mart, chances are pretty good that it won’t be empty for long. And the 1.5-acre site at 1431 Palo Alto Road is just the latest example of what The Retail Connection will be filling in.

The San Antonio development arm of the Dallas-based brokerage is behind a new 12,000-square-foot retail center dubbed Patron Plaza. While the land is currently under contract and set to close in a couple of weeks, the center is already 60 percent preleased.

PJ Kaminer, an associate with The Retail Connection, told me this morning that the tenant mix so far includes T-Mobile, Supercuts, Lee Nails and a dental practice. In other words, it’s what Kaminer said “makes a lot of sense.”

“When you take a step back, growth will continue in the Southwest,” Kaminer said of the need for more retail product in that part of the city. “While this project may be on the edge right now, we don’t think that will be the case moving forward.”

With 4,700 square feet left, it’s likely that a small fast-casual restaurant or retail-oriented office user will go into the remaining space. Kaminer said that some type of food user would fit perfectly into the end cap that’s available, which also has room for an outdoor patio that can be added during the six-month construction window.

According to the construction permit, the firm will be investing $1.25 million in Patron Plaza, with work set to begin in about a month and the space delivered in April 2016. Rents are advertised in the low $30-range, a number Kaminer said is reflective of increasing construction costs.

Click to read entire article: The Retail Connection set to build Walmart-shadowed retail development in Southwest San Antonio (San Antonio Business Journal, 09-02-15)

Share

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>