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

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Another retailer has filed for bankruptcy

gymboreeThe children’s clothing retailer Gymboree filed for Chapter 11 bankruptcy protection late Sunday. The mall-based chain says it plans to remain in business during its restructuring, but will close 375 to 450 stores out of its fleet of its 1,281 locations. Gymboree says the restructuring will reduce its debt by more than $900 million and position the company for “long-term success.” …Read Entire Post

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BBVA’s new local corporate HQ downtown

BBVA plans to broaden marketshare in San Antonio.

BBVA’s new location is open for business.

The ground floor of the tallest building in San Antonio got a major facelift along with renovations for a new major banking tenant. After months of construction, with at least a $2 million price tag, the new BBVA Compass Inc. location in San Antonio is open for clients. …Read Entire Post

Positive Job Outlook and Housing Expansion Fuel the Retail Market

1Q17_SARetSnap.xlsAlthough currently well within a sub-10% vacancy rate, recent activity in the San Antonio retail market has some wondering where are all the retailers?  Despite leasing activity, tenant moves and closures yielded 108,621 square feet of negative net absorption.

While the large national retailers are impacted the growing demand of online shopping, smaller retailers, including the Mom & Pop shops are finding it more and more challenging to cover the costs of rent and operating expenses, especially in new construction. The San Antonio retail market closed the first quarter with a citywide vacancy rate of 7.8% which is relatively stable compared to 7.6% last quarter. …Read Entire Post

Cricket building more brick-and-mortar

Retailers across the country are shuttering physical stores as consumers flock online to purchase goods, but most sellers of mobile devices are increasing their footprint in an effort to meet customers face-to-face.

Cricket Wireless LLC, a subsidiary of AT&T Inc., built eight new stores in the San Antonio market in the past 18 months. The prepaid wireless phone company has more than 100 stores in the region and 200 points of distribution. …Read Entire Post

Capital One closing San Antonio-area branches

capital-one-worst-redesign-2008Capital One Financial Corp. is closing its seven San Antonio-area branches in June as part of an ongoing consolidation of its banking network.

The McLean, Virginia, financial institution began notifying customers by mail this month of the impending closings. Federal law requires financial institutions to notify customers and regulators 90 days before closing a branch. …Read Entire Post

Local partnership breaks ground on retail center

Valcor Commercial Real Estate and RFM Commercial took partnership to break ground last week on a 9,100-square-foot development. While that may not seem like much space for such a fast-growing area of San Antonio, there’s a reason the development is taking on a smaller scale — Valcor and RFM were considering their neighbors.

YMCA developed the land and is on an upcoming bond measure that would provide it with the funds to buy another 6 acres adjacent to its now-open facility to develop into sports fields. …Read Entire Post

A’GACI set to open its fifth San Antonio location

agacilogoDowntown San Antonio shoppers will soon have another option when it comes to hunting for new outfits now that a local retailer is in the early stages of opening a new location in the Shops at Rivercenter mall.

Work on the new $400,000 location is set to begin next month and is expected to wrap up sometime in June, according to information filed with the state. …Read Entire Post

My Fit Foods abruptly shuts all stores

My Fit Foods(1)My Fit Foods has announced it is closing all its stores. The Austin company had more than 50 locations in five states.

The company had more than 50 locations in five states, and had opened a 30,000-square-foot central kitchen in 2015 in Fort Worth, Texas, to prepare meals daily for its 38 Texas and Oklahoma locations. My Fit Foods had three San Antonio locations. …Read Entire Post

REOC Releases 4Q 2016 Retail Market Report

Source: REOC San Antonio/Xceligent

Source: REOC San Antonio/Xceligent

The San Antonio retail real estate market ended the year strong with over 950,000 square feet of positive net absorption. The Neighborhood Center submarket led with a positive net absorption of 132,640 square feet, while the North West sector led the city by creating 62,324 square feet of positive net absorption.

The citywide vacancy rate for the San Antonio retail market tightened throughout the year which ended with an impressive 7.6% compared to the 8.0% that was recorded in the previous quarter. …Read Entire Post

Career Point’s vacated space officially back on the market

Wonderland of the Americas

Wonderland of the Americas

Wonderland of the Americas is working to fill some 96,000 square feet of space now unoccupied as a result of Career Point College closing its campuses. Located in a pocket created by the Loop 410 and I-10 overpass at 4522 Fredericksburg Road, the multi-use property has a mix of Class A and B space, with the former commanding $21.50 per square foot. …Read Entire Post