Northwoods Buying Heart. Picture courtesy of CIM Group
CIM Group has signed two leases, totaling roughly 40,000 sq. toes, with division retailer chain Nordstrom Rack and fast-food restaurant chain Chick-fil-A at its 443,148-square-foot Northwoods Buying Heart in San Antonio. Barshop & Oles brokered the lease on behalf of the owner, in response to a spokesperson representing CIM Group.
Within the final quarter of 2022, retail markets confirmed vital power on account of persistent demand, leading to buying facilities’ emptiness charges dropping to their lowest degree since 2007, in response to a Cushman & Wakefield report. The San Antonio market registered a 5.4 % emptiness fee.
Regardless of low emptiness charges, there was a deceleration in leasing exercise within the fourth quarter of final 12 months, with a complete nationwide quantity of 21.7 million sq. toes, marking the bottom quantity recorded because the second quarter of 2020, the above-quoted report additionally reveals.
Upcoming retailer openings on the property
The brand new Chick-fil-A restaurant is being constructed on a 1.5-acre parcel at Northwoods Buying Heart, in a 4,995-square-foot constructing located throughout the parking zone from Nordstrom Rack.
Nordstrom Rack has secured a lease settlement for 34,966 sq. toes in shut proximity to the present H-E-B grocery store. The corporate is predicted to inaugurate its retailer on the buying heart in September 2023, as a part of a long-term dedication to the situation.
The 2 companies will be a part of the property’s roster of 54 shops, together with retail, providers, eating and leisure suppliers. Barnes & Noble, Marshall’s, Ulta Magnificence, Previous Navy, Chuy’s, Fish Metropolis Grill, La Madeleine French Bakery & Café, Purple Robin and Regal Cinemas even have leases on the property.
Situated 1734 N. Loop 1604 E., on the southeast nook of U.S. Freeway 281 North and Loop 1604 intersection, Northwoods Buying Heart serves a neighborhood comprising single-family neighborhoods, residences, workplaces and motels.
