San Antonio’s Grandview shopping center has a new owner
February 28, 2013 by Mark
Grandview shopping center, which is located in Northwest San Antonio, Texas, has a new owner.
RPD Catalyst LLC, a Los Angeles firm, sold the center to the Sterling Organization of Palm Beach, Florida. The center, which is located on the northeast corner of Callaghan Road and Interstate Highway 10 West, comprises 105,349 square feet.
The anchor store is Sprouts, a Phoenix-based health food chain. The location had previously been a Sun Harvest Market, but Sun Harvest merged with Sprouts in 2011, and the stores were all rebranded as Sprouts. There were 3 Sun Harvests in San Antonio that changed their names. The rebranding caused RPD to seek a way to upgrade the Grandview center.
In May 2011, RPD Catalyst president Scott Drew said that his company intended to take advantage of the rebranding, and planned to invest more than $1 million in Grandview. The sale is only one of the most recent transactions in the local San Antonio retail market. In recent months Inland American Real Estate Trust bought Stone Ridge Market, and San Pedro Crossing was purchased by American Realty Capital – Retail Centers of America Inc.
The rebranding of the store and the sale of the Grandview center are important markers in San Antonio’s economy. The new owners of the center need to make certain that the city’s residents are aware of the changes, and visit the center to see what’s going on. In order to bring in shoppers, the owners could work with brochure printers to create publicity vehicles that showcase Grandview’s new look.