JLL Brokers Sale of 353,000-Square-Foot Legacy Shopping Center in San Antonio's Retail Real Estate Market
SAN ANTONIO — JLL has arranged the sale of The Legacy Shopping Center, a 353,000-square-foot mixed-use lifestyle center located in Far North Central San Antonio, the firm announced May 22, 2026. Rio Capital Investments — in partnership with Triangle Capital — acquired the property from seller Santikos Real Estate Services.
Financial terms of the transaction were not disclosed.
Property Overview
Built in 2006, The Legacy sits on 32.2 acres at the northeast corner of US Highway 281 and Loop 1604 in Far North Central San Antonio. The center draws visitors from the surrounding neighborhoods of Stone Oak, Encino Park and Bulverde, according to JLL.
The property encompasses ground-floor retail, second-floor office space and five separately platted pad sites. Major occupants include Main Event Entertainment, Best Buy, Spec's, Paul Mitchell and Buffalo Wild Wings. National tenants account for 48% of total building square footage, and the center attracts approximately 2.8 million visitors annually.
JLL noted that the five separately platted pad sites represent significant upside potential for the new ownership, providing flexibility for individual spin-off opportunities.
Deal Team
JLL Capital Markets' Investment and Sales Advisory team represented the seller in the transaction. The team was led by Senior Managing Director Barry Brown and Directors Whitney Snell and Shea Petrick.
"San Antonio's retail market continues to show strong momentum driven by population growth and economic diversification," said Whitney Snell, Director at JLL Capital Markets. "Well-located centers like The Legacy at major intersections with solid demographics remain highly sought after by both retailers and investors."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. Services include investment sales and advisory, debt advisory, mergers and acquisitions, corporate finance, loan sales, equity and fund placement, net lease, derivative advisory and energy and infrastructure advisory.
About the Seller: Santikos Real Estate Services
Santikos Real Estate Services LLC is the real estate investment and development arm of Santikos Entertainment, a San Antonio-based company founded in 1911 that owns and operates theaters throughout Texas. The company's portfolio spans retail, office, multifamily, industrial, theater, land and hotel assets in San Antonio and national markets. Santikos Entertainment operates solely for the benefit of the San Antonio community, with profits funding area nonprofits through the San Antonio Area Foundation.
About the Buyer: Rio Capital Investments and Triangle Capital Group
Rio Capital Investments is a real estate investment manager focused on value-add investments across retail, multifamily, office and mixed-use properties in high-growth markets throughout the United States. The firm partnered with Triangle Capital Group on the acquisition.
San Antonio Retail Real Estate Market Context
San Antonio is the seventh-largest city in the United States, with a metropolitan population of approximately 2.6 million. The city's economy is anchored by military installations, financial services, life sciences and a growing information technology and cybersecurity sector, according to JLL.
The Legacy is positioned at the northeast corner of US Highway 281 and Loop 1604, which JLL describes as one of the most prominent intersections in San Antonio, benefiting from proximity to dense residential communities, major employment centers and hospitality destinations.
About JLL
JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries. The firm employs more than 113,000 people as of March 31, 2026, and serves clients across office, industrial, hotel, multifamily, retail and data center property types. Through LaSalle Investment Management, JLL invests for clients in both private assets and publicly traded real estate securities.