Walmart at Helotes Town Centre
Walmart’s newest San Antonio Supercenter opened this month at FM 78 and Foster Road on the city’s Northeast side. The store accounts for approximately new 300 jobs and offers a significant boost to the revitalization efforts in the area. The project calls for additional 30,000 square feet or so retail shop space to be constructed as demand dictates but construction is not expected to begin until some pre-leasing is achieved.
Just a few weeks ago, doors opened for business at the new 153,000-square-foot Walmart Supercenter at Bandera Road and Leslie Road in Helotes. The Supercenter anchors the Helotes Town Centre project. Construction is now underway on an additional 27,000 square feet of retail shop space. Joining the project, KFC and Taco Bell have purchased pad sites and Taco Bell is nearing completion.
In addition to several new Supercenters planned for the greater San Antonio area, the discount giant has also announced plans to open its first supermarket concept store here.
Click to read: Walmart prepares for grand opening of Foster Road store (San Antonio Business Journal, 4-29-13) and Walmart sets opening date for new Helotes store (San Antonio Business Journal, 4-8-13)
Montrose Market – Houston
Locally-based grocer H-E-B put an end to rumors spreading across the Stone Oak area, confirming its plans to open a one-of-a-kind store in Stone Oak at Hardy Oak and Wilderness Oak.
Area residents have speculated that the supermarket chain will open a smaller version of its upscale Central Market on Broadway, frequently called the “Gucci-B,” in their neighborhood. Officially, however, H-E-B has said only that it will open a unique store there, and that it will resemble two of its more expensive locations in Austin and Houston.
H-E-B’s decision follows a continuing population and housing boom in the northern part of the city. …Read Entire Post
A new-store development campaign by Bentonville, Ark.-based Walmart Stores Inc. is creating some new employment opportunities for San Antonio. The latest example is the new Supercenter in the works along Binz-Engleman and Foster Road on the city’s Northeast Side.
The chain currently has four new Supercenters in the works here. Those stores, which are slated to open in phases throughout this year and the next, will bring roughly 1,200 new jobs to San Antonio. …Read Entire Post
Dallas-based La Madeleine Country French Café has announced that it plans to open eight new stores in the greater San Antonio area over the next several years.
Each store employs around 30 people. At eight stores, that equates to another 240 jobs. …Read Entire Post
Source: NAI REOC San Antonio
San Antonio-area retail properties ended the year on solid ground. Fourth quarter activity included the opening of Target (135,270 sf) at the newly redeveloped Terrell Plaza shopping center in the Northeast sector. In all, new leases and expansions across the city generated 151,695 square feet of positive net absorption in the final quarter of the year which raised the year-end total to a very respectable 829,161 square feet. …Read Entire Post
Construction crews recently broke ground on a 180,000-square-foot Wal-Mart Supercenter at the corner of Interstate 35 North and Palo Alto Road on the city’s South Side. The Bentonville, Ark.-based retailer expects to open the store in October and hire about 300 employees. …Read Entire Post
Stone Ridge Market
Illinois-REIT Inland American Real Estate Trust Inc. recently purchased Stone Ridge Market (218,436) anchored by PetSmart, Half Price Books, and Sports Authority. Stone Ridge Market is situated adjacent to the H-E-B Plus (168,000 sf) in the same northwest quadrant of US Highway 281 and Evans Road in the Far North sector of the city. The purchase also included Rockwell Plaza (254,690 sf) – a retail center in Oklahoma City. Inland reportedly paid $94.7 million for both properties.
Click to read Inland American Real Estate Trust, Inc. Purchases Two necessity-Based Shopping Centers in Oklahoma and Texas for $94.7 Million (CNBC, 1-9-13)
San Pedro Crossing
American Realty Capital-Retail Centers of America, Inc. (ARC RCA) recently announced its purchase of San Pedro Crossing (201,965 sf) for approximately $32.6 million or $158 per sf. Located at the intersection of San Pedro Avenue and Loop 410, the power center was reportedly 97% at time of sale to ten tenants including Toys/Babies “R” Us, Barnes & Noble and The Container Store which combine to represent 62% of the annualized rental income of the property.
Click to read American Realty Capital – Retail Centers of America, Inc. Acquires San Pedro Crossing Shopping Center (PRNewswire, 12-28-12).
PicaPica Plaza, an indoor street market featuring shopping, eating and family entertainment, is now open at 910 SE Military at Roosevelt on the Southside. The 130,000 square-foot market is a great re-use of what was originally a Walmart, then Steve & Barry’s.
The project, which had a soft opening in October, has already landed roughly 200 vendors, with another 120 on a waiting list. Its goal is to create an economic development engine to empower retail entrepreneurs. Vendor leases run on a six-month basis, and start at about $18 a month.
For more information, click to read PicaPica Plaza is South San Antonio ‘retail entrepreneur’ incubator (San Antonio Business Journal, 11-30-12) or visit the PicaPica website.
NAI REOC’s Director of Research, Kim Gatley, presented an update of the San Antonio commercial real estate market at this year’s CCIM Symposium held November 1st at the Grand Hyatt Hotel in downtown San Antonio.
Click here to view the 2012 CCIM Symposium Research & Statistics slide presentation.