SAN ANTONIO – Exciting news for real estate enthusiasts in San Antonio! Ingram Park Mall, a beloved shopping destination on the Northwest Side, is now up for sale. The mall, spanning 1.1 million square feet, is offering two parcels of its property for sale, as per a listing by real estate firm CBRE. The listing includes 22.92 acres of the total 83.57-acre complex, with the price remaining undisclosed.
The announcement was first made public by the San Antonio Business Journal on Friday, creating a buzz among investors and shoppers alike. The mall’s location at 6301 NW Loop 410, coupled with its impressive 375,044-square-foot retail space, has garnered a lot of attention.
CBRE’s website further mentions that the mall has attracted new renters to its anchor space, presenting lucrative value-add opportunities for potential buyers. With anchor retailers like Dillard’s and Macy’s occupying most of the mall, Ingram Park Mall boasts an 88.8% lease rate, ensuring a stable revenue stream.
The history of the mall dates back to its development by Simon Property Group in 1979. In a recent turn of events, a Morgan Stanley affiliate seized the opportunity to acquire the property at a foreclosure auction, making a bid of $100.7 million in 2021.
As the real estate market continues to evolve, the sale of Ingram Park Mall signifies a significant opportunity for investors to capitalize on its rich history and future potential. Stay tuned for more updates on this exciting development!
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