San Antonio, Texas, October 15, 2025
News Summary
MCB Real Estate, alongside Epic Real Estate Partners and Centerbridge Partners, has successfully acquired the Northwoods Shopping Center in San Antonio, Texas. This collaboration marks their first joint venture. The 439,569 square foot center is primarily grocery-anchored by H-E-B, which holds a significant market share in the area. Positioned at a strategic intersection, the shopping center is approximately 91% leased with several key national retailers as tenants. The acquisition was financed through Truist Bank, further aligning with MCB’s recent retail initiatives.
San Antonio, Texas
MCB Real Estate, based in Baltimore, has announced a joint venture with Epic Real Estate Partners and Centerbridge Partners, L.P. to acquire the Northwoods Shopping Center, located in San Antonio, Texas. This acquisition represents the first collaboration between these three firms.
The Northwoods Shopping Center spans 439,569 square feet and serves as a grocery-anchored retail destination, primarily featuring an H-E-B grocery store, which has been a key tenant since the center’s inception. The acquisition was financed through a loan from Truist Bank, although the purchase amount has not been disclosed.
Strategically situated at the intersection of Loop 1604 and Highway 281, the shopping center benefits from a prime location that is known as one of the busiest intersections in the San Antonio area. As of the acquisition date, Northwoods was reported to be approximately 91% leased.
Tenants and Market Impact
In addition to H-E-B, the Northwoods Shopping Center hosts major national retailers such as Nordstrom Rack, Marshalls, Homesense, Barnes & Noble, Old Navy, and Ulta Beauty. H-E-B alone holds a remarkable 51% market share in the San Antonio metropolitan statistical area, underscoring its importance as a market leader.
Relevance of the Acquisition
MCB co-founder David Bramble has remarked that this acquisition offers an opportunity to unlock significant value within high-traffic, high-growth markets. The purchase aligns with MCB’s recent retail initiatives, including a $100 million redevelopment of a former Century 21 department store parcel in Brooklyn, New York, and a $65 million acquisition of the Falcon Ridge Shopping Center in Fontana, California.
Centerbridge executive Matt Dabrowski shared that this acquisition reinforces their belief in the viability of grocery-anchored, necessity-based shopping centers, indicating confidence in the performance of such properties in the retail market.
Historical Context
The Northwoods Shopping Center was developed by Barshop & Oles Company in 1996. Since then, it has continually evolved to serve the community by providing essential shopping options and popular retail brands.
| Feature | Description |
|---|---|
| Location | Intersection of Loop 1604 and Highway 281, San Antonio, Texas |
| Size | 439,569 square feet |
| Major Tenants | H-E-B, Nordstrom Rack, Marshalls, Homesense, Barnes & Noble, Old Navy, Ulta Beauty |
| Leased Status | 91% leased |
| Market Share | H-E-B holds 51% in San Antonio MSA |
What is the Northwoods Shopping Center?
The Northwoods Shopping Center is a grocery-anchored retail space located in San Antonio, Texas, spanning 439,569 square feet.
Who financed the acquisition of Northwoods Shopping Center?
The acquisition was financed by a loan from Truist Bank; however, the purchase amount has not been disclosed.
What are the major tenants of Northwoods Shopping Center?
Major tenants include H-E-B, Nordstrom Rack, Marshalls, Homesense, Barnes & Noble, Old Navy, and Ulta Beauty.
What percentage of Northwoods Shopping Center is leased?
As of the acquisition date, Northwoods Shopping Center was reported to be approximately 91% leased.
| Date | Event | Status/Source |
|---|---|---|
| 1996 | Northwoods Shopping Center developed | Barshop & Oles Company |
| 2023 | MCB, Epic, and Centerbridge joint venture acquisition | Completed |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Shopping Center Business
- Wikipedia: Northwoods Shopping Center
- The Daily Record
- Google Search: MCB Real Estate acquires Texas property
- Connect CRE
- Google Scholar: Investor trio acquires 439k sf San Antonio retail center
- KSAT News
- Encyclopedia Britannica: Nordstrom Rack store open in Northwoods
- Community Impact
- Google News: Homesense now open in Northwoods shopping center
Author: STAFF HERE SAN ANTONIO WRITER
The SAN ANTONIO STAFF WRITER represents the experienced team at HERESanAntonio.com, your go-to source for actionable local news and information in San Antonio, Bexar County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Fiesta San Antonio, San Antonio Stock Show & Rodeo, and Dia de los Muertos. Our coverage extends to key organizations like the Greater San Antonio Chamber of Commerce and United Way of San Antonio and Bexar County, plus leading businesses in retail, insurance, and energy that power the local economy such as H-E-B, USAA, and Valero Energy. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREDallas.com, and HEREHouston.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
