At the bend of San Antonio’s famed River Walk sits a 1988-era mall that’s rewriting the rules of retail real estate, The Shops at RiverCenter. Since acquiring the property in 2005, Ashkenazy Acquisition Corporation, led by real estate veteran Ben Ashkenazy, methodically transformed the 1.06 million SF complex from a dated indoor mall into a river-anchored, mixed-use destination.
San Antonio’s retail landscape is itself shifting, from traditional malls to open-air, experience-driven corridors, spurred by the 37.65 million visitors who strolled the River Walk in 2023 (visitsanantonio.com)
RiverCenter’s approach, which involves repurposing existing space with minimal renovation costs, curating a mix of shops and restaurants that appeal to both locals and tourists, and leveraging its riverfront location, offers a clear roadmap for tomorrow’s retail corridors.
San Antonio Retail Trends in 2025
- Tourism-Fueled Growth: Post-pandemic recovery has driven convention bookings up 12 % year-over-year and cruise-ship arrivals back to pre-2020 highs.
- Experience-First Demand: Entertainment-oriented tenants such as mini-golf bars, interactive aquariums and food halls outperform traditional retailers by 15–20 % in sales per square foot.
- Local F&B Partnerships: Homegrown Alamo Biscuit Co. & Panaderia opened its 24-hour River Walk location this April, and PJ’s Coffee is slated to join RiverCenter this spring—both moves aimed at boosting dwell time and repeat visits (San Antonio Express-News).
- Modular, Low-Capex Models: Flexible bay designs and phased façade updates enable pop-ups and seasonal activations at minimal renovation cost.
These trends underscore a retail ecosystem built on flexibility, authentic experiences and community engagement, exactly the factors RiverCenter leverages to stay relevant year-round.
The Shops at RiverCenter Property Snapshot
- Scale & Location: The Shops at RiverCenter comprises a 1.06 million SF complex, including roughly 400,000 SF of retail and office space, plus a 38-story, 1,001-room Marriott Rivercenter hotel.
- Tenant Count & Anchors: Home to more than 100 retailers—including six full-service restaurants—and anchored by Macy’s, Dave & Buster’s, AMC IMAX and other experience-driven tenants (aacrealty.com).
- Annual Visitors: The center attracts approximately 15 million annual visitors along the River Walk corridor (aacrealty.com).
- Proximity & Connectivity: Situated at 849 E Commerce St., RiverCenter sits steps from the Alamo, Tower of the Americas, Hemisfair Park, Alamodome, the San Antonio Convention Center and the AT&T Center, plus direct River Walk access.
The River Walk Advantage
The River Walk’s 15-mile network of stone paths provides The Shops at RiverCenter with:
- Built-In Audience: Over 20,000 pedestrians pass its doors on peak weekends (visitsanantonio.com).
- Seamless Connectivity: Levee-top promenades and pedestrian bridges link RiverCenter directly to hotels, museums and dining destinations.
- Climatic Appeal: The river’s microclimate and mature canopy extend the tourist “season,” encouraging year-round strolls.
Those advantages play out every day in RiverCenter’s tenant lineup and partnerships:
PJ’s Coffee Brews New Energy
This spring, New Orleans–based PJ’s Coffee is slated to open an 895 SF café at 849 E. Commerce St., bringing direct-trade beans and signature beignets to RiverCenter’s ground level. This addition highlights a broader strategy of pairing retail staples with lifestyle-oriented concepts that drive daily visits and extend dwell time.
Alamo Biscuit Co. Serves Local Flavor 24/7
San Antonio–grown Alamo Biscuit Co. & Panaderia opened a 7,000 SF, 24-hour location at 849 E. Commerce St. in early 2025, complete with concha-shaped umbrellas on its river-facing patio. From biscuit flights to vegan tacos, the menu reinforces RiverCenter’s blend of tourist appeal and neighborhood authenticity.
Holey Moley Brings Playful Entertainment
Holey Moley’s 13,000 SF indoor mini-golf bar anchors one wing, offering a family-friendly draw that extends evening and weekend traffic well past traditional retail hours.
Mexico Ceaty Food Hall Revitalizes Dining
Chef Jason Dady’s 21,000 SF “Mexico Ceaty” food hall replaces a static food court with tacos, speakeasy-style agave bars, panadería-style coffee and live-music stages, turning mealtime into an experience that resonates with both visitors and locals.
Adaptive Reinvestment in Action
Rather than gut-and-rebuild, Ashkenazy Acquisition has phased in light-touch upgrades—façade refreshes, new river-facing patios and improved wayfinding—while structuring bay sizes to accommodate both these flagship tenants and rotating kiosks, keeping the ground-floor lineup dynamic and the pedestrian buzz alive.
As San Antonio cements its status as a premier retail and tourism hub, The Shops at RiverCenter demonstrate how adaptive reuse along a waterfront can redefine a mall into a mixed-use landmark. By weaving together tourism, local culture and flexible design, and by letting Ben Ashkenazy’s vision guide each phase, RiverCenter offers a clear playbook for tomorrow’s retail corridors.