REOC San Antonio
Commercial Real Estate Since 1974   
Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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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

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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

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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

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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

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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

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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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664K-SF South Park Mall opens its doors to new owners

South Park Mall

Mason Asset Management, Namdar Realty Group and CH Capital Group purchased the 663,978 SF South Park Mall off Military Dr. in south San Antonio.
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H-E-B breaks ground on 1.6 million-square-foot facility

H-E-B broke ground on its largest single-build warehouse in company history. According to Carson Landsgard, H-E-B’s senior vice president of supply chain and logistics, the future warehouse’s capacity will begin at 200 shipping doors, and 180 trailers of product will be shipped every day.  About 600 to 700 people are projected to be employed at the warehouse, half of those positions will be …Read Entire Post

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Power Center opening in Far West Side

80-acre development will feature 550,000 square feet of retail, including a long strip center and 14 pad sites

The Shops at Dove Creek is opening in a few months as the next power center on San Antonio’s Far West Side. This area has seen continued demand for big-box retail.

 

Portions of the land have been sold to users like KB Homes, Casey Development, and Flix Brewhouse LLC. Plans include a 170-unit subdivision behind the retail part of the development and an apartment complex.

 

The remaining 80 acres will include 

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