The overall center, at Loop 410 and US Highway 87 (Rigsby Avenue), will have 64,000 sf of retail space, credit union and 204,000-sf Wal-Mart Supercenter, which is under construction. Stores in the retail portion include Shoe Show, One Price Dress shop, Dollar Tree Super Store, CiCi's Pizza, Melrose Store, Fantastic Sam's and Sally Beauty Supply. The Wal-Mart and the retail center are expected to open in early fall.
English and Continental Development Co., which has offices in Boulder, CO and London, is the developer. Tom Rohde of San Antonio's NAI/Rohde, Ottmers & Siegel is coordinating development and handling leasing for the center.
Most retail development in San Antonio has followed growth to the city's north-central and northwest submarkets, which were the only areas to post positive absorption in 2001, according to the San Antonio office of Dallas-based Weitzman Group. The southeast submarket had negative absorption of 79,000 sf in 2001. The vacancy rate increased 7.2% to 26.8% and rental rates dropped more than 50 cents per sf to $9.18 sf.
"With the drawing power of a Wal-Mart Supercenter, combined with a large number of fashion and apparel stores," Rohde says, "our project will draw customers not only from San Antonio's East side, but way out to Floresville, La Vernia and growing areas of Wilson and Guadalupe counties."
Construction financing comes from Key Bank of Denver. Ewing Construction of San Antonio is the general contractor and San Antonio-based Villa Park Architects designed the project.. English and Continental Development also is looking to develop shopping centers at Callaghan and West Commerce and Pearsall and Loop 410.
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