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The 747,386-square-foot property known as Windsor Park Mall could still be facing the auction block.
Miami-based Bayview Loan Services has filed a second notice to foreclosure on the property. Windsor had been slated to be sold in early October; the property never made it to the auction block. This time around, the project could be facing sale at auction on the steps of the Bexar County Courthouse on Nov. 2.
What happens next is anyone's guess. Bayview, which filed both notices, will not comment on the case. And the present owners of the mall Raleigh, N.C.-based entity called Windsor Park Mall LLC - have not returned calls to the Business Journal. According to the foreclosure posting, the total loan amount on the property at stake is $2.5 million.
That the very ownership of the property appears to be in a state of limbo seems fitting - given the uncertain future that Windsor faces as a retail center.
Located off of Interstate Highway 35 and Walzem Road in Northeast San Antonio, Windsor first opened its doors to local shoppers back in 1976. Over the past several years, however, the mall has gone through a decline - as big-name retailer after retailer jumped ship for newer projects up and down the I-35 corridor.
These days, Windsor Park Mall is a nearly vacant shadow of its former self that is now confronting foreclosure. The mall currently has one anchor tenant, a Mervyn's store, and a smattering of smaller retailers.
"As a mall, I don't see it; it needs to be de-malled," says Cal Ivey, who is the director of real estate for locally based Dominion Advisory Group.
Revitalizing the property as a shopping center is further hampered by the retail exodus that...