Newport Beach, Calif. (January 25, 2019) – SRS Real Estate Partners’ Investment Properties Group has completed the sale of Military Crossing, a 171,318-square-foot community shopping center located in San Antonio, Texas. The center is approximately 99 percent occupied and includes Academy Sports flagship store, BioLife Plasma Services, Harbor Freight Tools, Chase, and Firehouse Subs among others. LA Fitness is also an anchor tenant at the center but was not a part of the sale.
SRS’ Webb Sellers, Kyle Stonis, Pierce Mayson, Matthew Mousavi and Patrick Luther represented the seller, Santikos Real Estate. The buyer, Nooner Holdings, was represented by Eric Lehman of Lehman Real Estate.
“SRS’ Investment Properties Group was pleased to sell Military Crossing to a Texas buyer who understands the value of the real estate along Northwest Loop 410 as well as Academy Sports’ commitment to the success of one of its flagship stores,” said Sellers. “We continue to see motivated capital entering the market targeting a combination of quality real estate and attractive yields, which Military Crossing thoroughly provides.”
Built between 1996 and 2014 and located at 7523 NW Loop 410 in San Antonio, Military Crossing is situated on just over 19 acres of land. The property is well-located in a densely populated area with more than 328,000 people within a five-mile radius. Directly behind and abutting Military Crossing is a 633,000-square-foot National Security Agency (NSA) facility which was converted from a Sony fabrication plant in 2006 and brought 1,500 new government jobs to the immediate area. Additionally, Military Crossing is located near exit 96 off Interstate 410 and is part of a major retail corridor in the area creating strong crossover shopping synergy with adjacent retail centers.
Nicknamed Military City, San Antonio is home to one of the largest concentration of military bases in the country. Active installations include Lackland AFB, Brooke Army Medical Center, Randolph AFB and Fort Sam Houston.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.