San Antonio, Texas — GBT Realty Corp. recently acquired a one-acre site in San Antonio for the development of South Park Commons, a 12,600-square-foot retail center. GBT purchased the property from Target for $925,000 on Feb. 21.
The site is adjacent to Target’s SW Military Drive storefront in San Antonio. Construction of the center is underway with tenants expected to open in November. South Park Commons is currently 70 percent pre-leased to national names including AT&T, Aspen Dental, Firehouse Subs and GNC. Approximately 3,600 square feet of street-facing space is still available. Nearly 103,500 people with an average household income of more than $42,000 live within five miles of South Park Commons, according to GBT, a development company based in Brentwood, Tenn. Approximately 36,700 vehicles daily pass the San Antonio site in this retail corridor.