Report: San Antonio shopping centers stay full as little new space is built
plans to open a dine-in movie theater, bowling and arcade complex in about half of a former Sears store at South Park Mall.
In April, Santikos closed its Bijou theater, a major tenant at Wonderland of the Americas mall. The nonprofit that runs the Woodlawn TheatreFitness Connection is opening a gym in the rest of the space. There are also plans for an Ojos Locos Sports Cantina location in a former Sears auto center at the mall.
Floor & Decor opened a 79,681-square-foot location and BJ’s Restaurant & Brewhouse opened a 7,630-square-foot location at Live Oak Town Center at Loop 1604 and Interstate 35, which is in Weitzman’s portfolio. A Twin Peaks restaurant and a Black Rifle Coffee Co. shop are also planned at the center.Less new space amid ‘landlord’s market’
About 384,000 square feet of space at new and expanded shopping centers with 25,000 square feet or more are expected to be added this year. “Rents required to economically justify a project can outpace the overall market,” Weitzman said in its report.Average asking rates at the city’s newest and highest-end shopping centers ranged from $26 to $38 per square foot per year for small spaces and into the $40s for bigger, end-cap spaces in the first six months of 2022, according to Weitzman.
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