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REOC San Antonio releases retail market update for 2Q 2014

Source: REOC San Antonio/Xceligent

Source: REOC San Antonio/Xceligent

New leases and expansions generated 108,746 square feet of positive net absorption for the period spanning the months of April through the end of June, according to the survey of more than 47 million square feet of retail lease space.  The second quarter gain raised the year-to-date total to 371,043 square feet.  As a result, the citywide vacancy rate tightened to 9.9% down from 10.1% last quarter and 10.6% recorded in the same quarter a year ago.

The citywide average quoted triple net rental rate stepped up $0.16 compared to the previous quarter to reach $16.58 per square foot per year which is up $0.63 compared to the same quarter last year for a confident annual increase of 4.0%.  Rates vary by location and product type but, on a citywide average basis, all property types showed increases in asking rents compared to this time last year even though vacancy rates did not improve in all property types. …Read Entire Post

Gateway Plaza acquired by Tryperion

Gateway Plaza

Gateway Plaza

Los Angeles-based Tryperion Partners recently closed on the purchase of Gateway Plaza (138,510 sf) located at 7513 N Loop 1604 E, adjacent to the new At Home store (formerly Garden Ridge Pottery) situated near the Interstate Highway 35/Loop 1604 interchange in the Northeast community of Live Oak.

The center’s tenant line-up includes Burlington Coat Factory, Hancock Fabrics, Goodwill Store and others.  Occupancy at time of sale was reportedly 97 percent.

The acquisition also included vacant land for future development of the center.  …Read Entire Post

Walmart bringing more jobs, more savings to San Antonio market

WalmartLogoWalmart recently celebrated the grand opening of two new Walmart stores – including a Walmart Supercenter at 12639 Blanco Road on San Antonio’s North Central Side and the new Neighborhood Market at 9526 Military Drive West on the city’s far West Side.

Combined, the two stores will create approximately 400 new jobs in the city — a mix of part-time and full-time positions.  …Read Entire Post

Norris Conference Centers relocating to Park North

park-north-retail-locations-mapAfter anchoring the Wonderland of the Americas mall for nearly ten years, the Red Oak Ballrooms of the Norris Conference Centers will be relocating to Park North – the power center located along Loop 410 between Blanco Road and San Pedro Avenue (where Central Park Mall once stood).

Norris Conference Centers’ new lease of more than 33,000 square feet will provide five meeting rooms and two Red Oak Ballrooms to accommodate corporate events, wedding receptions and other social functions starting in January 2015.  …Read Entire Post

H-E-B Market at Stone Oak debuts

H-E-B Market at Stone Oak

H-E-B Market at Stone Oak

The H-E-B Market at Stone Oak (80,000 sf) recently opened at 23635 Wilderness Oak in the Far North community of Stone Oak.

At the same time, Oaks Crossing, the company’s first full-service restaurant inside a local H-E-B store, also opened.  The restaurant will serve lunch and dinner, a selection of wines and Texas craft brews.  The menu will feature barbeque, Neapolitan-style pizzas, hot and cold sandwiches, salads, pasta bowls, Mexican food, hamburgers and desserts. …Read Entire Post

REOC San Antonio releases 1Q 2014 retail market update

Source: REOC San Antonio

Source: REOC San Antonio/Xceligent

After adding four new Walmart Supercenters in 2013, the discount giant opened four more stores in the first quarter.  Five additional Walmart stores are currently under construction in the San Antonio area and set to open later this year.  Rounding out the list of big box deliveries in the first quarter were two new Sam’s Club stores and a Garden Ridge Pottery store.

In all, the retail development pipeline delivered nearly 950,000 square feet of new retail space in the first three months of the year but, so far, the list of completions does not include any speculative, multi-tenant lease projects.  The limited amount of speculative development over the past several years has funneled tenant demand into existing retail centers.

According to the survey of nearly 47 million square feet of retail lease space, healthy tenant demand generated 288,308 square feet of positive net absorption in the first three months of the year which tightened the citywide vacancy rate to 10.1% compared to 11.0% recorded in the same quarter last year.  The citywide average quoted triple net rental rate stepped back $0.18 compared to the previous quarter to settle at $16.42 per square foot per year but the current average is up $0.82 compared to the same quarter last year for an upbeat annual increase of 5.3%.  …Read Entire Post

ThinAir jumps to 4902 Fredericksburg Road

4902 Fredericksburg

4902 Fredericksburg

At long last, Graham Central Station is getting a new neighbor.  ThinAir Trampoline Park, a 30,000-square-foot indoor recreation center, will fill the remainder of what used to be a Kmart in its previous life.  The ultimate sports trampoline park is located at 4902 Fredericksburg Rd.

When it opens in late May, guests will be granted access to the massive trampoline field, basketball hoops and dodgeball stadium.  ThinAir will offer dodgeball tournaments, birthday parties, trampoline “airobics” classes and club nights with lasers and DJs.  …Read Entire Post

Two new LA Fitness clubs slated for San Antonio

LAFitnessLogoCalifornia-based LA Fitness is currently in the process of adding two new health-club facilities in San Antonio. Both are located along the northern rim of Loop 1604.

A new facility is slated for The Vineyard Shopping Center located at Loop 1604 & Blanco Road where LA Fitness reportedly signed a lease for 45,000 square feet. Although construction has not started yet, it is expected to begin immediately. …Read Entire Post

Walmart growth in store for San Antonio

Walmart_Logo_BurstWalmart has been very busy in the Alamo City in the first few months of 2014, having recently celebrated the opening of two Sam’s Clubs (2530 Marshall Road and 3239 Goliad Road), introduced its smaller Neighborhood Market concept store (1515 S. Ellison Drive at Marbach), and opened the first San Antonio Walmart location to feature the ‘site to store” component (5200 Block of Walzem Road).

Three more Neighborhood Markets are expected to open later this summer at Hunt Lane & Military, Guilbeau & Tezel, and DeZavala & Lockhill Selma and plans were recently announced for yet another at MarArthur View & Nacogdoches which will span roughly 41,000 square feet and is expected to open early 2015. In addition, Schertz is slated for a 42,000-square foot Neighborhood Center at FM 3009 & Elbel. …Read Entire Post

Inland Investments acquires Westover Marketplace

Westover Marketplace

Westover Marketplace

Westover Marketplace (242,644 sf) was recently purchased by Inland Investments, an Oakbrook, Illinois-based institutional investor.  The retail power center, located at 8211 SH 151, is situated at the intersection of Loop 410 and SH 151 and is a major destination shopping venue for the Westover Hills area and the growing communities in the Far West sector.

Occupancy at the time of the sale was reportedly 93 percent with a tenant line-up that includes Target, Gander Mountain, PetSmart and a Toys “R” Us/Babies “R” Us combo store.  …Read Entire Post