2267 Northwest Military Highway, San Antonio, TX, 78213

Winston Hills Village

Asset description

JLL (Jones Lang LaSalle Americas, Inc.) is pleased to present the opportunity to acquire a fee simple interest in Winston Hills Village, a retail neighborhood center totaling 47,784 square feet. Conveniently located less than twelve miles from downtown, the Property is in proximity to the San Antonio International Airport and retail destinations such as North Star Mall, Alamo Quarry Market, and Park North. Surrounded by well-respected elementary, middle and high schools, Winston Hills Village is also situated at the epicenter of some of San Antonio’s most popular neighborhoods, including Castle Hills, Dreamland Oaks, Whispering Oaks, and Elm Creek. Winston Hills Village offers a variety of services and amenities designed to cater to the needs of its patrons and is 97.1% leased to a diversified roster of tenants with 1.9 years of WALT remaining. With a 42.5% potential mark-to-market upside and the ability to develop a pad site on the excess land parcel, Winston Hills Village presents a unique opportunity to purchase prime retail space in the heart of north central San Antonio at an attractive basis.

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Attributes

Building area net

47,784 sf

Occupancy

97.1%

Year built

1986

Land area gross

3.93 acres

WAULT

1.9 years

Media

Investment highlights

Rare Value-Add Opportunity

- Roughly 100% of tenancy rolls in next 12 to 45 months

- 42.5% mark-to-market opportunity (current average in-place rents are $11.77 PSF)

Ideal Location in Heart of North Central San Antonio

- Close proximity to several destinations including North Star Mall, San Antonio International Airport, Alamo Quarry Market, and the Alon Town Center

- US-281 access via immediate connectivity to NW Military Highway and Lockhill Selma Road

Dynamic Retail Corridor with Rapidly Growing Mixed-Use Connectivity

- Strong upward pressure on market rents ($20+ PSF) with 3% growth

- The North Central submarket has maintained consistent occupancy of 96% over last 5 years with no new development over 20K SF

Premier, Dense Residential Neighborhood

- Surrounded by highly desirable neighborhoods such as Castle Hills, Dreamland Oaks, Whispering Oaks, Elm Creek and Inverness (avg. home value of $389K within 5-mile radius)

- Packed consumer spending power (avg. household income of $91K within 1-mile radius)