The shopping center is situated at 11791 Bandera Rd. in the northwest submarket near the intersection of Bandera Road and Loop 1604. The anchor tenants are Target (San Antonio's first Super Target), Lowe's Home Improvement, T.J. Maxx, Ross Dress for Less, Barnes & Noble, Old Navy and Office Max.
That area has been a hotbed of retail growth as developers try to keep pace with the fast residential expansion in the area. Michelle Mahue, DDR's director of investor relations, was unavailable Monday to answer questions about the transaction.
DDR developed the shopping center, which opened in March 2001, with David Berndt Interests, based in Irving, TX. DDR and Berndt also teamed up to develop La Frontera Village in Round Rock.
Prudential Real Estate Investors is the real estate investment and advisory business of Prudential Financial Inc., based in New York City. Coventry Real Estate Partners is a subsidiary of DDR.
DDR also has an interest in the La Plaza del Norte shopping center in San Antonio. The 320,269-sf center is positioned at the intersection of Loop 410 and San Pedro Avenue. Anchors include Oshman's and Best Buy. That center is a joint venture between DDR and DRA Advisors Inc., a New York City-headquartered real estate investment manager. In all, DDR owns and manages about 220 shopping centers in 41 states.
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