JLL closes sale of gym-anchored retail center

DALLAS, January 6, 2020 – JLL Capital Markets announced today that it has closed the sale of Shops at Walzem, a 55,526-square-foot, Gold’s Gym-anchored retail center in San Antonio, Texas, three miles from Randolph Air Force Base.

JLL marketed the property on behalf of the tenant and owner, Gold’s Gym. Mark Sher, an investment sales specialist and currently a director at KW Commercial, represented the buyer.

Situated at 7650 FM 78, in the eastern part of San Antonio, Shops at Walzem is three miles from Randolph Air Force base, which is home to 15,942 active military members. The base is part of the overall Joint Base San Antonio, an impressive network of military bases in the San Antonio area with a population of more than 80,000. The retail center serves an extended trade area; more than 191,300 residents earning an average annual household income of $72,040 live within a five-mile radius of the property. Shops at Walzem has an internet-resistant tenant lineup that includes Beauty Supply, Iglesia Pentecostal and Sun Sews Alterations.

The JLL Capital Markets team was led by Director Aaron Johnson, Managing Director John Taylor, Chris Murphy and Analyst Ross Crawford.

According to a recent JLL Research Report, fitness centers bring in a steady flow of consumers, increasing traffic to the center. In fact, 47% of consumers are motivated to visit a shopping center if it has a fitness or wellness tenant.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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