Grocery-Anchored Retail Development Coming to Alamo Ranch
German grocer Lidl to anchor project
CBRE announces Lidl, one of the world’s largest retailers, purchased 5.26 acres in San Antonio for the development of a 30,000-sq.-ft. location. Lidl will anchor a planned retail development at the intersection of Alamo Ranch Parkway and Lone Star Parkway.
Gene Williams of CBRE Retail Services represented the landlord/developer, Abiso Development, in the sale and is the exclusive leasing advisor for the remainder of the project.
“The thoughtful design of our project will encourage exploration of the surrounding tenant mix, and the addition of Lidl supports pre-leasing and brings a valuable neighborhood amenity to Alamo Ranch,” said Mr. Williams, First Vice President, CBRE.
Lidl opened its first U.S. stores this summer in Virginia, North Carolina and South Carolina, with plans to open up to 100 U.S. stores by next summer. Lidl will offer a simple and efficient approach to grocery shopping with top quality goods and groceries at up to 50 percent less than other supermarkets in the U.S.*
Abiso Development will build a 30,000-sq.-ft. shopping center adjacent to Lidl, along with another multi-tenant building on the hard corner of the intersection at Alamo Ranch Parkway and Lone Star Parkway. Additionally, Abiso is close to executing a ground lease with a national restaurant chain on a corner pad.
The shopping center will front Alamo Ranch Parkway with unimpeded views and shallow bay depths of 60-65 feet to accommodate significant visibility and signage for smaller service and restaurant tenants.
“Lidl was a pleasure to work with throughout this transaction, and we are excited to have them as our anchor for the project. We look forward to providing the residents of Alamo Ranch with a neighborhood destination of restaurant and service providers, as well,” said Blake Honigblum, Managing Partner, Abiso Development.
Construction of the retail development is anticipated to begin in the fourth quarter of 2017, with an estimated delivery date in the third quarter of 2018.
Alamo Ranch is consistently ranked one of the fastest growing submarkets in the San Antonio area. According to Esri, the population within a five-mile radius of the development was approximately 245,600 in 2016 and is projected to grow 2.59 percent by 2021.
Gensler is the architect, KFW is the civil engineer, Metropolitan Contracting is the general contractor, and Jefferson Bank is providing financing for the shopping center development.
*Source: Lidl. Based upon a price comparison of comparable products sold at leading national retail grocery stores.