The state of San Antonio’s retail sector is prompting a new round of acquisitions by Kotel Investments Inc.
Earlier this month, the firm, which is dually headquartered in San Antonio and Woodland Hills, Calif., closed on the purchases of Judson Plaza, an 18,750-square-foot center located at 9160 FM 78; and Bell North Park, which spans 20,400 square feet at 17361 Bell North Drive.
The properties are located in Converse and Schertz, respectively — two towns just northeast of San Antonio that are seeing a significant amount of growth, say brothers and co-founders of Kotel Investments, Rami and Jeff Kotel.
The centers have not lacked for tenant interest. Kotel Investments recently inked two deals for the two remaining spaces at Judson Plaza — for a Chinese restaurant of 1,250 square feet; and a dentist office of 2,000 square feet.
Kotel Investments also is in talks with potential tenants for the last bit of real estate up for grabs at Bell North — two restaurants spaces of 1,400 square feet and 1,500 square feet.
Bell North is in an ideal spot, officials say, because it is just down the street from Amazon.com’s new 1,3-million-square-foot fulfillment center.
Housing, new business centers, new industrial parks — much of that development is centered within the far Northeast Side of greater San Antonio.
What is lacking from the area, however, is retail development.
“This is a very good market for us,” says Rami Kotel.
