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enior Vice President & Director of Research at REOC San Antonio

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Wonderland of the Americas mall taken off market after losing an anchor tenant

Wonderland of the Americas

Wonderland of the Americas

Ownership for the Wonderland of the Americas faced with having to fill the 96,000-square-foot hole left after anchor tenant Career Point College abruptly closed its doors over the weekend power has reversed its plan to sell the property.

After investing millions of dollars in its rebranding and pushing the mall’s vacancy to below 10 percent with new lease agreements, Crossroads Mall Partners Ltd. recently enlisted HFF to put the 565,718-square-foot Wonderland of the Americas up for sale.

Sid Weiss, a managing partner with the ownership, confirmed that the property has been taken off the market.

So why was it put up for sale to begin with? Weiss said the ownership acquired the asset with the intent to hold it for the long term, but it decided due to personal reasons for one of its owners that it would be best to sell. However, now that the property is firmly rooted in its future, Weiss and the mall’s ownership is resolved to take this hiccup and turn it into an opportunity.

“There are lots of plans and several prospects,” the managing partner said of filling the space. “The mall has a strong medical component to it, so we’ll continue to pursue that, and we already have a lease pending for 92,000 square feet with a major hospital operator.”

The new leases are expected to take roughly six to 12 months to execute.

Click here to read the full article: Wonderland of the Americas mall taken off market after losing an anchor tenant San Antonio Business Journal 10-18-2016

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