IKEA Lease Spurs 480K-SF Retail Development
IKEA, the giant furniture retailer, has inked a deal to take down 290,000 square feet in the San Antonio suburb of Live Oak, TX. The lease, in turn, means that Cencor Realty Services can move forward on its Live Oak Town Center. The regional center will total 480,000 square feet (plus the IKEA anchor) on 60 acres at Interstate 35 and Loop 1604.
Cencor plans to break ground on Live Oak Town Center in late 2017, with openings planned for 2019. Michael Schoenbrun with Cencor will oversee development, while David Nicolson with the Weitzman Group will handle leasing. “With IKEA as the anchor, Live Oak Town Center will become one of the strongest retail destinations in our market,” Schoenbrun said. “Nothing puts you on the map quite like being South Texas’ only location for one of the most popular retailers in the world.”
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