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

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Sale of Far North shopping center points to expanding retail scene

Berry Oaks PlazaAn Austin-based investor purchased the Berry Oaks Shopping Center in Far North San Antonio located at 19851 W Highway 46 Hwy– near the intersection of Highway 46 and U.S. Highway 281.

It may be easy to write off the 19,000-square foot shopping center in the Singing Hills area as the middle of nowhere given that it is a healthy distance from San Antonio’s retail hotspots. But in the past couple of years, the combination of overall population growth, people moving out beyond Loop 1604, and the development of a new Walmart have sparked the neighborhood’s retail environment, and it is an area that is growing a lot faster than some might realize.

At the time of the sale, the five-year old Berry Oaks was 100 percent leased with a mix of local and regional tenants. Sold by a San Antonio-based private developer, the center caught the interest of a private investor. Jason Middlebrook, the founder of Trulan Property Advisors who represented the seller in the transaction, said there has been a lot of activity in the region lately, and that the good demographics, the widening of Highway 281 and the area’s population growth will make it an attractive location for future investment activity.

Click to read entire article: Sale of Far North shopping center points to expanding retail scene (San Antonio Business Journal, 4-21-15)

 

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