Sonterra Village Shopping Center in San Antonio Acquired for $21.5M
- Jan 18, 2016
By Anca Gagiuc, Associate Editor
San Antonio, Texas—Sonterra Village Shopping Center has found a new owner. InvenTrust Properties Corp. spent $21.5 million on the purchase of the newly built, 42,492-square-foot shopping center.
“The acquisition of Sonterra Village is complementary to our four existing properties in the highly-attractive and fast-growing San Antonio market, and we are pleased to enhance our portfolio with this strong asset,” said Michael Podboy, executive vice president, CFO & CIO of InvenTrust. “The center’s ABR and income demographics are accretive to our retail portfolio of assets.”
The asset is anchored by Trader Joe’s and features a mixture of restaurants, fitness, lifestyle, and soft goods retailers such as Zoe’s Kitchen, Denver Mattress Company, Orange Theory Fitness, Tarka Indian Kitchen, Michin Fresh Mexican Kitchen, Smart Barre, Amazing Lash Studio, Super Target, and a Whole Foods Market. The shopping center is located at Loop 1604 and Sonterra Place, between Stone Oak Parkway and Blanco Road and within walking distance from major neighborhoods including Sonterra, Stone Oak, Hollywood Park, Hill Country Village, Inwood, The Vineyard, and Shavano Park.
“Sonterra Village is strategically located in one of InvenTrust’s target markets. We believe the combination of retailers, geographic location and demographic attributes of this property will drive significant value over the long term. Importantly, this acquisition is aligned with our objectives of acquiring high-performing retail assets and growing in strong locations that have job and population growth,” Podboy said.
Image courtesy of Trader Joe’s