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

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GrayStreet lands a buyer for Loop 410 shopping center

Local real estate investor and developer GrayStreet Partners just sold a Northwest Side shopping center it has owned for nearly two decades to one of its long-time tenants. The San Antonio Eye Center — which occupies about one-third of the Ingram Park Plaza shopping center at 6151 NW Loop 410 — has closed on the 41,607-square-foot property, which GrayStreet bought in 1998.

Local investor and developer GrayStreet Partners has sold the 41,607-square-foot Ingram Park Plaza shopping center to the San Antonio Eye Center, one of its long-time tenants. GrayStreet’s Managing Partner Kevin Covey said the firm originally had no plans to sell the property until the medical provider approached it and expressed an interest in acquiring the strip center, where he said it has been a tenant for about a decade.

Albert Castillo, CEO of the San Antonio Eye Center, said the group wanted to jump ahead of another investor interested in buying the property in order to secure its location. The CEO said there are plans to remodel some of the spaces at the center, which is 100 percent occupied by tenants including Fortune Cookie Chinese, Alamo Craft Co., Black Fox Beauty Supply, Quinceaneras and Bridals Boutique, and the Savant Achievement Center.

Click here to read the full article: GrayStreet lands a buyer for Loop 410 shopping center San Antonio Business Journal 10-25-2016

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