Premier Sprouts-anchored shopping center trades hands in San Antonio

DALLAS, Aug. 7, 2025 –  JLL Capital Markets announced today that it has arranged the sale of Marketplace at Encino Park, a 100% occupied Sprouts-anchored shopping center located in San Antonio, Texas.

JLL represented the seller, Birnbaum Property Company. The buyer was InvenTrust Properties Corp.

Marketplace at Encino Park is strategically located at 22135 Bulverde Rd. in San Antonio's rapidly growing Far North Central submarket. This prime location provides excellent visibility and accessibility, with frontage on both Bulverde Rd. and Evans Rd., experiencing traffic counts of 29,035 and 26,696 vehicles per day respectively.

The 85,129-square-foot center is fully leased to a diverse tenant mix, with national retailers accounting for 57% of the gross leasable area and 53% of the income. The property is anchored by Sprouts Farmers Market, which ranks as the #1 Sprouts location in San Antonio and one of the top performers within a 50-mile radius. Other notable tenants include Pet Supplies Plus, Burger King and F45.

Marketplace at Encino Park benefits from its location in an affluent trade area, with average household incomes of $167,618 within a three-mile radius. The surrounding area has experienced significant population growth of 78% since 2010 and boasts over $3.5 billion in consumer spending power within three miles.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Senior Managing Director Barry Brown, Directors Erin Lazarus, Shea Petrick and Whitney Snell.

"Marketplace at Encino Park represents a premier retail investment opportunity in one of the fastest-growing cities in the country," said Brown. "The property's strong tenant mix, anchored by a top-performing Sprouts, combined with below-market rents averaging 53% below market rates, presents significant value-add potential for the new ownership."

"This transaction highlights the continued investor demand for grocery-anchored retail centers in high-growth markets like San Antonio," added Lazarus. "With a strategic location near affluent residential neighborhoods, Marketplace at Encino Park is positioned for long-term success."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Birnbaum Companies, a three-generation legacy in commercial real estate founded in the 1960s by Bernie Birnbaum, has evolved from its bowling alley beginnings into a diverse portfolio spanning five states under the leadership of Bernie's son Jay and now grandson Bernard Birnbaum. The company continues to thrive in commercial real estate while expanding into new ventures such as The Warrior Factory, an obstacle course training facility established by Bernard and business partner Carl Fantauzzo in 2017.

InvenTrust Properties Corp. (IVT) is a premier Sun Belt multi-tenant essential retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood centers, community centers and high-quality power centers across its portfolio of 63 retail properties representing 10.6 million square feet. A trusted local operator with deep real estate expertise in tenant relationships, IVT maintains a strong market reputation while demonstrating leadership in environmental, social and governance practices as a GRESB member since 2018.