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Vacant commercial sites not easy to fill in San Antonio
(Retail : San Antonio) 11/20/2009

Several San Antonio commercial locations are now empty thanks to large bankruptcies, including national retailers Mervyn's, Circuit City and Linens 'N Things.

Fiesta Auto Center this year fell victim to Chrysler's plans to slash around a quarter of its dealership network as part of its government-backed restructuring plans.

Now the market has to figure out how to reuse those hulking locations — a process that could take some time as brokers search for the right tenant to fill thousands of square feet.

So far, the Mervyn's locations at North Star Mall, Ingram Park Mall and South Park Mall all remain empty, each with about 90,000 sf. But the 34,000-sf Linens 'N Things at The Forum at Olympia Parkway is now a Bed, Bath & Beyond.

And a 20,594-sf Circuit City location at the Village at Forum Parkway just became a Spec's Wine, Spirits & Finer Foods.

That leaves two other empty Linens 'N Things locations — one at Bandera Point on Loop 410 and one at San Pedro Crossing near North Star Mall — and two more vacant Circuit City locations (at San Pedro Crossing and near Ingram Park Mall), according to NAI REOC's Kim Gatley.

But it's unlikely that all of those locations will remain retail. Technology schools, call centers, churches and government agencies have successfully taken over retail spaces across the city in the past.

Fiesta Auto Center, with nine buildings with more than 92,000 sf, likely will not remain a car dealership. Brokers have one car dealer prospect, but a church, educational, government or big-box retail use is more likely.


[San Antonio Express-News]
 
Material herein is published according to the fair-use doctrine of U.S. copyright laws related to non-profit, educational institutions. Items attributed to sources other than the Real Estate Center at Texas A&M University should not be reprinted without permission of the original source.

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