SAN ANTONIO-A San Antonio turnaround specialist is working on his latest project, the Westlakes Mall at Loop 410 and Marbach Road.
Stanley Spigel, head of Spigel Properties, bought the 370,000-sf mall and is working with NAI Rohde, Ottmers and Siegel Realty to renovate it, says Chuck Siegel of NAI Rohde. Details of the transaction were not disclosed. The acquisition doesn't include the 100,000-sf Target store, which is owned by the Minneapolis-based retail giant.
The regional mall is in San Antonio's southwest submarket, which is not the hotbed that the north and northwest submarkets are. Of San Antonio's total retail inventory of 32 million sf, just 4.8 million sf are in the CBD and south submarket, which includes the Westlakes area.
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