REOC San Antonio
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Kim Gatley
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New Mixed-Use Development Planned for Brooks City Base

Caroline at Brooks

The Brooks Development Authority, a public-private partnership with the City of San Antonio, teamed with Houston-based Morgan Group to construct Caroline at Brooks, an eight-building complex of multifamily and retail space.

Shovels are expected to hit the ground this week and the $84 million project, to go up at 7910 S New Braunfels Avenue, is slated for completion in September 2024.

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New Entertainment Venue Coming to Wonderland of the Americas

AR’s Entertainment Hub recently announced plans to bring a new entertainment venue to the Wonderland of the Americas (formerly Crossroads Mall and originally Wonderland Mall). Plans call for a multimillion-dollar redevelopment of 58,000 square feet of vacant retail space on the upper floor.


Work is set to begin soon, and construction could be completed before the end of the year.

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Boerne Town Center Coming Soon

Boerne Town Center

Abiso Real Estate Services LLC announced plans for Boerne Town Center – a new retail project to be located at the northeast corner of IH-10 W at Christus Parkway.

Plan calls for four small retail buildings, each spanning roughly 5,000 sf and offering a mix of retail and restaurant space for the likes of MOD Pizza, McAllister’s Deli and Chicken Salad Chick.

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EVO heads to South Park Mall

Evo Entertainment Group is expanding its footprint in the San Antonio market.  The Austin-based company, one of the nation’s largest operators of cinema-entertainment centers, plans to develop a new venue at San Antonio’s South Park Mall on Southwest Military Drive.

EVO Entertainment South Park will feature 12 screens, dine-in cinema service with luxury recliner seating, a scratch kitchen and bar and other entertainment offerings, including a video and redemption arcade, 14 bowling lanes, virtual reality experiences and bumper cars. …Read Entire Post


PBC Interests Plans Renovation of newly acquired Seguin Crossroads Shopping Center

Seguin Crossroads
Courtesy of The Seguin Gazette

PBC Interests, a Houston-based investment group, recently acquired the Seguin Crossroads Shopping Center, formerly known as Five Courts Mall.

The almost-40-year-old center is located at 1500 E. Court Street in Seguin and spans approximately 126,000 square feet. …Read Entire Post


Kotel Investments adds two retail centers to San Antonio portfolio

Kotel Investments recently acquired two more area retail centers to add to their Alamo City holdings:

Sterling Oaks Shopping Center (30,000 sf) located at 7350 Tezel Rd.

Austin Heights Retail Center (59,932 sf) located 1533 Austin Hwy.

Kotel is still in the process of securing new tenants for empty spaces at the shopping centers. …Read Entire Post


Floor & Décor Opens 80,000 SF Store in Live Oak

Floor & Décor recently opened an 80,000-square-foot store located at 4200 IKEA-RBFCU Pkwy in Live Oak, a northeastern suburb of San Antonio.

The store, located in the Live Oak Crossing center anchored by IKEA, will be the Atlanta-based home improvement retailer’s third in the San Antonio area and will include a design center. …Read Entire Post


Big V Property Group Acquires The Rim Shopping Center

Charlotte-based retail owner-operator Big V Property Group recently acquired The RIM Shopping Center, a 1 million-square-foot retail and restaurant destination with over 100 tenants.

Big V acquired the property, which is part of a larger mixed-use development, in partnership with New York-based Kimco Realty and San Diego-based Equity Street Capital. Big V will also manage the property which is located at 17703 La Cantera Pkwy in Northwest San Antonio. …Read Entire Post


Good news for shopping center owners looking for refinancing: Lenders are returning

Retail real estate borrowers with loans maturing, even some who had refinancing committed, saw lenders’ doors slam shut last year. “You didn’t know what tenants were going to survive, flourish or have to move out, and you didn’t know which ones were going to be able to pay rent or need some assistance,” said NorthMarq Dallas managing director and senior vice president of debt and equity Ron Reese. Now lenders are returning to the market.

Financing for all but best-in-class, grocery-anchored centers and credit tenant, net lease properties froze for a good three to four months last year. “The retail deals we were transacting on we couldn’t close because we couldn’t deliver estoppels that said tenants were paying rent, and tenants didn’t know what their future looked like,” said Reese. However, the market began to thaw late in the third quarter, and more lenders are continuing to trickle back.

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Fourteen retailers expanding in 2021

Not all retailers are downsizing their physical assets in the wake of the pandemic. So far this year, retailers in the U.S. have announced 3,199 store openings and 2,548 closures.

In 2019, retailers announced 4,548 openings, up from 3,747 in 2018. The good news: To date in 2021, openings are already tracking to top each year prior.

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