A retail development company based near Dallas has targeted San Antonio’s South Side for its first project in the Alamo City.
SLX Capital, a retail development company based in Plano, has acquired a 1.6- acre site off Loop 410 and Roosevelt Avenue. The project aims to develop the site into an 11,400-square-foot retail center with five tenants.
According to Ahsan Daredia, a partner with SLX, Dunkin’ Donuts, a coffee and doughnut chain, has signed as the anchor tenant.
After working on the deal for about three to four months, SLX officially closed it on April 10. Local developer Jack Walker, who acquired the land in 2003, sold it to SLX. The purchase price was not disclosed.
Daredia explained how SLX completed the deal, noting that another SLX partner, Karim Khoja, was contacted by someone in his network.
“He used to be in the restaurant industry for the past 20-30 years, typically in Dunkin’ Donuts. Obviously, his network is deep because of that, so someone that he knows actually came to us with this piece of land. They wanted us to develop it for him. Then, the guy that brought us the deal, essentially said, ‘we’ll all go ahead and lease a Dunkin’ from you on this property, ‘” Daredia said.
Since the deal’s close, architectural plans and drawings have already been submitted to the City of San Antonio for review. The architectural firm working on the project is Fort Worth-based JAW Architects Inc., according to a LinkedIn post by SLX.
The other tenants are unconfirmed, but SLX’s brokers are actively searching, Daredia shared.
“Our brokers are talking to other tenants out there. We’re looking at restaurant, we’re looking at medical, we’re looking at office. We believe that there’s going to be a lot of retail growth on the Roosevelt corridor and so we want to stabilize the center and hold it for the next couple of years and really contribute to kind of the retail that’s coming up there,” he said.
SLX expects to break ground on the project during the first week of June and complete construction by March 2026.
This project marks SLX’s first in San Antonio, and the company is also looking
to pursue spaces on the West and Northwest side of the city.
