Houston-based retail investment firm Fifth Corner and San Antonio-based real estate investor and manager Headwall Investments recently announced their joint acquisition of the Stewart Center retail property in East San Antonio through an off-market transaction.

The mixed-use asset, located at 5108 Broadway St. in Alamo Heights, Texas, is situated along the Broadway corridor — one of the market’s most established commercial districts — where it occupies a prominent corner within a highly desirable and well-connected neighborhood.

Currently, the 53,000-square-foot Stewart Center incorporates more than 30,000 square feet of San Antonio retail space, in addition to an office component. The new owners have announced plans to perform some property upgrades, including enhancements to the exterior and overall environment.

Fifth Corner Managing Partner, Tenel Tayar, noted that the property was a good fit for the firm’s broader investment strategy, which targets well-located, community-embedded retail properties that carry long-term relevance. The highly visible Stewart Center is already entrenched in the fabric of the surrounding community and presented a clear opportunity to thoughtfully build on its strong foundation.

For Headwall Investments, this acquisition aligns with the firm’s focus on high-quality assets within its home market. Headwall Investments President & CEO, George Wommack,  mentioned the property’s strong fundamentals and highly connected location, as well as a clear path to enhancing long-term value for both tenants and the surrounding community.

“This opportunity is exactly the type of investment we get excited about — high-quality real estate right here in our own backyard,” he said.

Commercial real estate agency Shop Companies will lead leasing efforts at the Stewart Center with a focus on supporting the long-term positioning of the property by maintaining a cohesive and first-rate environment that’s aligned with the area.

The acquisition expands both firms’ presence in San Antonio and reinforces their continued confidence in the long-term fundamentals of high-performing submarkets like the Broadway corridor. It also reflects the venture partners’ shared approach to identifying and executing on well-positioned opportunities.