READ ALSO: San Antonio retail construction remains low amid high interest rates, costsĪ former Walmart in Windcrest is now a transportation, logistics and warehouse operations center for Goodwill San Antonio, and Dick’s Sporting Goods moved into a space off Loop 410 that was previously occupied by Toys R Us and Babies R Us. A Sears location at Ingram Park Mall could become a furniture store, after a corporation linked to Mega Furniture bought it in late March.īed Bath & Beyond and Buy Buy Baby, now set to close, took over part of another closed Sears store at Park North Shopping Center.
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Vacant storefronts left behind by many retailers have been filled by entertainment complexes, gyms and restaurants.ĪR’s Entertainment Hub took over about 58,000 square feet at Wonderland of the Americas in a space formerly occupied by Burkes Outlet, and apparel retailer Saint Bernard moved into a shuttered Stein Mart store at the Shops at Lincoln Heights.įitness Connection filled part of a former Sears store at South Park Mall, and EVO Entertainment plans to open a dine-in movie theater, bowling and arcade complex in the rest of the space. Buy year-to-date opening announcements are outpacing closures, with discount and dollar store chains planning to open hundreds of new locations, JLL said. In a recent report on the national retail market, commercial real estate services company JLL said Tuesday Morning closures could have a “significant impact” on vacancies at malls and open-air shopping centers. There’s more tenants than there is space right now - and more tenants chasing good space.” About 3 million square feet were built from 2016 to 2020, while about 10.2 million square feet were built from 2006 to 2010, when much of The Rim shopping center was constructed and the Shops at La Cantera was expanded. That amount of construction is up slightly from 354,000 square feet built in 2021 and 355,000 in 2020, but down sharply from the most recent high point of 868,400 square feet in 2018. And little new retail space is being built here - or nationally - as developers grapple with higher interest rates and construction costs, driving tenants seeking storefronts to existing shopping centers.Īt the end of 2022, about 94.5 percent of retail space at shopping centers of 25,000 square feet or more was occupied, and roughly 380,000 square feet was added, according to a report by Weitzman. Some of the stores are in attractive locations, such as near North Star Mall and Park North Shopping Center and in an H-E-B-anchored center near Loop 1604 and U.S. The stores could also be subdivided into spaces for multiple tenants, he said.
READ ALSO: Report - Empty stores filling in San Antonio shopping centers as little new retail space is built
“I think there’s plenty of interest in that size range,” King said. Bed Bath & Beyond stores are typically about 30,000 square feet, and Tuesday Morning stores are about one-third of that footprint. For one thing, Bed Bath & Beyond and Tuesday Morning stores are not gargantuan, said Robert King, senior vice president at Weitzman, a Dallas-based commercial real estate firm.
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