Las Palmas

Edge Capital Markets is pleased to present the opportunity to acquire Las Palmas Shopping Center, a 263,284 square foot shopping center that is currently 86% leased, anchored by H-E-B and located at a primary signalized intersection in San Antonio, Texas.
Las Palmas has been anchored by H-E-B for over 40 years and boasts a consistent increase in sales with 5% year-over-year growth over the last 33 years and 10% year-over-year growth over the previous three years, translating into reliable increases in percentage rent. The Property is ranked as a top 94% neighborhood shopping center in Texas, and top 96% nationwide, with a total of 3.6 million visitors, con?rming the Property as the focal point of the trade area’s economic activities.
Las Palmas caters to the daily needs of the surrounding established trade area by providing E-commerce-resistant experiences and services, creating a one-stop family shopping destination featuring grocery, healthcare, consumer retail, communications, restaurants and banking.
Located in the heart of San Antonio, Las Palmas holds a coveted location along Castroville Road and South General McMullin and is ideally nestled in a large swath of high-density residential area only minutes west of Downtown San Antonio. Positioned a dominant intersection, the Property offers exception access, and boasts two on-site bus stops, allowing consumers to visit the property via the city’s public transportation. The Property is embedded in a mature Hispanic residential area containing more than 315,000 residents within a ?ve-mile radius with high barriers to entry, which limit future competition and secure Las Palmas’ position within the retail node. Additionally, the Property is within immediate proximity to some of San Antonio’s top economic and employment drivers including Lackland Air Force Base and Port of San Antonio, a 1,900+ acre tech port campus home to over 80 aerospace, cybersecurity and logistic companies.
Las Palmas is an exceptional investment opportunity to acquire a well-positioned grocery-anchored shopping center with a secure income stream located within San Antonio, one of the strongest performing economies in Texas.