Friday, January 24, 2014

San Antonio Express News: Retailers rush to fill empty Blockbusters

January 17, 2014

SAN ANTONIO — Less than a week after Blockbuster closed its remaining stores, businesses hoping to make their debut or expand their footprint in San Antonio have targeted the newly vacant — and apparently prime — commercial real estate space.

Blockbuster officially closed its last 10 locations here Sunday, just two months after the embattled video-rental company announced it would walk away from the few hundred remaining stores it operated across the country.

During the holidays, bargain hunters scoured the bins and shelves at area Blockbusters, hoping to score a cheap movie from the latest victim of online competition.

Already, a First Choice Emergency Care clinic has started moving into one of the now-empty stores, at 13434 Nacogdoches Road.

Other Blockbuster locations across the city have appeared on the radar of fast-growing franchise chains, including Frisco-based Mooyah, a fast-casual burger and shake chain that opened its first restaurant here two years ago.

Similarly, spa company Hand & Stone and 24-hour gym operator Workout Anytime might consider some of Blockbuster's old digs to establish an initial presence in San Antonio.

“It's kind of an irony or, I guess, just an evolution of business that Blockbuster disrupted the video industry by changing the way people watch movies,” said Todd Leff, president of Hand & Stone. “And then business evolved again: Blockbuster's out, and now we're coming to change the way massages and facials are delivered.”

Since 2012, the New Jersey-based franchiser has opened 14 spas in Austin, the Dallas-Fort Worth area and Houston, with six more locations in the works.

Leff wants to open at least three spas in San Antonio and has paid attention to Blockbuster locations in the city.

Blockbuster officially closed its remaining 10 locations in San Antonio, opening real estate space for other retailers. This location is 2951 Thousand Oaks Drive.

“We've done some investigation into the real estate there, and things like Blockbuster are a key component for us to be able to get into big-box anchored shopping centers at a reasonable rate,” he said. “We've identified some key locations, but it's all about finding the right developer at this point.”
Businesses like Leff's have waited months for Blockbuster to vacate its space.

The company operated more than 9,000 retail locations less than a decade ago. But crippling pressure from online streaming services and video rental kiosks pushed Blockbuster's owner, Dish Network Corp., to announce in November that it would close its remaining stores.

The official closure last weekend cleared the way for opportunistic retailers looking to find a home here.
“With the real estate climate being what it's been the last few years, we haven't seen much” new construction, said Alan Hixon, vice president of development for Mooyah. “Availability is what really drives your real estate.

“So without a lot of projects coming out of the ground, you're going to need second-generation space,” he added.

Mooyah franchised its first location here at 22502 U.S. 281 near Stone Oak, but the owners hope to debut as many as 20 more restaurants in the city.

Like Hixon, Randy Trotter, vice president of development for Georgia-based Workout Anytime, described the newly vacant Blockbusters as attractive places to open the company's first San Antonio gyms.


“They are normally in grocery-anchored shopping centers, with great visibility, access and parking,” Trotter said. “A large company like (Blockbuster) did their homework back in the day and really picked quality real estate.”

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