Bill Miller Bar-B-Q Selling two Parcels in Downtown San Antonio

Investors wanting to beef up their downtown San Antonio portfolios have two more options on their plate.

Texas restaurant chain Bill Miller Bar-B-Q has hired Eldon Roalson and Matt Howard of Roalson Interests to sell parcels at 501 North St. Mary’s Street and 120 East Martin Street, the San Antonio Business Journal reported.

No asking price has been publicly revealed, but the two tracts are vacant and have a combined taxable value of $8.3 million, according to the Bexar County Appraisal District.

Together, the properties, which sit across the river from the upcoming InterContinental Hotel and Weston Centre, have 209 feet of River Walk frontage. The sites are zoned for multiple uses, including office, multifamily and hospitality.

It’s possible that they will be scooped up fast, given the strong demand for real estate in downtown San Antonio. Some developers are trying to acquire large assemblages in concentrated areas. In March, Weston Urban purchased a 2-acre lot holding La Quinta Inn, at 900 Dolorosa Street, giving it control of the entire 4-acre block. Weston Urban has acquired over 22 acres of land downtown since 2012.

Oxbow Development Group is another firm that’s working to up its downtown portfolio. In July, the Silver Ventures subsidiary bought land at 1216 East Euclid Avenue, near a mixed-use project it’s developing across the river from Hotel Emma.

Bill Miller Bar-B-Q has 76 locations across San Antonio, Corpus Christi and Austin. It was founded as a fried chicken restaurant in 1953 and later expanded to barbecue. The business pioneered the commissary model of fast food and has offices and a plant in downtown San Antonio.

Last year, the restaurant chain bought 3 acres downtown from the City of San Antonio, where it is receiving a 75 percent property tax abatement for 10 years and is building a new headquarters and commissary facility.

—Quinn Donoghue