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CA-Based Retailer Taps Texas Market

SAN ANTONIO-Fallas-Paredes of Gardena, CA gets a piece of the Texas market via US bankruptcy court, paying $1.6 million for 29 leases of the defunct Weiner's chain. A San Antonio realtor plays a key role in the Texas nod.

By Tim Green | Updated on October 11, 2001

SAN ANTONIO-A San Antonio realtor has played a key role in a California retailer’s bid for a piece of the Texas market. With it came the acquisition of 29 former Weiner’s store leases.

Chuck Siegel of NAI/Rohde, Ottmer, Siegel Real Estate Services worked with Fallas-Paredes, an off-price retailer from Gardena that has bought the leases from US bankruptcy court. Fallas-Paredes paid $1.6 million for the leases and spent another $600,000 to $800,000 to satisfy previous Weiner’s debts with building owners.

The stores, most about 25,000 sf apiece, are in San Antonio, Houston, Dallas and Valley cities such as Harlingen, Brownsville and McAllen. Weiner’s, an off-price apparel retailer based in Houston, filed for bankruptcy protection in June, closing its 97 stores in four states.

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