MIMCO Inc. bulks up San Antonio portfolio, closes on Wal-Mart-anchored retail center

Dellview Marketplace

Since entering the market more than 15 years ago, MIMCO Inc. has made a name for itself by acquiring value-add retail centers and bringing them up a notch, a strategy it will be implementing for its newest portfolio addition in Northwest San Antonio.

But the biggest draw for this retail center is not so much its potential, but its neighbor — a 203,000-square-foot Wal-Mart.

The Dellview Marketplace Shopping Center is a 122,750-square-foot retail center at the southwest corner of Freiling Drive and Vance Jackson, to the east of I-10 and south of Loop 410. And with a current occupancy rate of about 80 percent, MIMCO is ready to leverage its proximity to the retail giant to fill the additional space.

MIMCO will be closing on the property today — purchasing it from Covington Dellview Marketplace LP, a Chicago-based investment group. The El Paso-based firm will start work immediately on improvements to the retail center, including renovations to the facade, parking and landscaped areas.

The property’s current tenant mix is diverse, to say the least. Names include Dollar Tree, Shoe Dept., Sally Beauty, Petsense, Rue 21, Cricket, Subway, Dominos and several service providers.

The Wal-Mart owns its location at 1603 Vance Jackson, but the store is technically part of the retail center.

Click to read entire article: MIMCO Inc. bulks up San Antonio portfolio, closes on Wal-Mart-anchored retail center (San Antonio Business Journal, 09-28-15)