The owner of a 0.7-acre parcel at the busy intersection of College Drive and Interstate 10 is hoping to redevelop the site into a small retail strip center with national tenants.
Situated across College from an Albertsons supermarket, the property was previously home to a Chevron station. Owner Nadia Elbar tore the station down earlier this month and has since begun clearing the land in preparation for new development.
Elbar, who owns a handful of other service stations in the market, says it’s increasingly difficult for local independent service station operators to compete against major corporations like Circle K, which have franchise agreements with multiple gasoline companies and have the advantage of economies of scale.
“It’s like a mom-and-pop grocery store trying to compete with Walmart,” she says. “They are able to undercut us on price because of the way they are able to buy everything—their gasoline, their Coca-Cola products—in bulk. Our expenses keep going up and revenues aren’t enough to justify them.”
Elbar does not want to sell the property, which she believes will continue to appreciate in value because of its location. But she is interested in working with local brokers to help find national tenants for her planned development, which is still in the early stages.
Elbar plans to develop the center herself and estimates it will be around 6,000 square feet of commercial space with units for several tenants.
“I’ve had interest from some national tenants but I’m looking for the right tenant,” she says. “I’m open to all suggestions.”