Roxton Properties, Galleria Eye May 14 Land Closing

The closing is set for May 14, Mike Hampton, president and CEO of Roxton Properties and Roxton Development, tells GlobeSt.com. The San Antonio-based Galleria Ventures Ltd. is selling the land.

The high-traffic hotspot will be used for two high-end vehicle dealerships in an expansion of holdings for Charles Barrett. He already owns two Mitsubishi dealerships, one Jaguar-Ferrari and one Daewoo in three San Antonio locations.

Hampton expects ground will break in three months on another Mitsubishi dealership for Barrett. In the coming year, a Jaguar and Ferrari dealership groundbreaking will be held on the same site. The game plan is to shift the locations of the existing operations and ultimately end up with five dealerships in five locations, says Hampton.

Teal Construction, based in Houston, is designing and building the Interstate 10 projects. The design-build firm has been selected for its expertise in building high-end dealerships, says Hampton.

The Interstate 10 acreage in the northwest submarket is at the same intersection as a 1.3-million sf retail project, The Shops at La Cantera. The Rouse Co., based in Columbia, MD, is undertaking the project along with USAA Real Estate Co., San Antonio's largest employer. And that's why this acreage has been selected for Barrett's expansion, explains Hampton. "It is becoming the desirable place to be in San Antonio," he tells GlobeSt.com.

Hampton's Georgetown project north of Austin, another Mitsubishi dealership, is on schedule and will open in the middle of September. A Jaguar-Volvo dealership, also a Hampton project, has just opened in McAllen. The developer also has recently opened the doors on a 12,000-sf build-to-suit in Rogers Ranch near San Antonio. After Market Auto Parts Alliance, a high-end parts supplier, occupies half of that site.