SAN ANTONIO – Local real estate developer GrayStreet Partners has bought land on the Broadway corridor that houses The Pig Stand, the last of an erstwhile chain of drive-in restaurants that used to dot the country’s developing highway system in the 1920′s. The San Antonio location opened at 1508 Broadway in 1921.
The deal gives the firm a foothold on the section of the city that borders downtown and has attracted redevelopment efforts looking to capitalize on the success of Pearl and other nearby projects. While a purchase price was not disclosed, Bexar County appraisal records for 2022 show that both plots combined are worth about $3.7 million.
Mary Ann Hill, the longtime owner-operator of The Pig Stand, also confirmed to the Business Journal that the deal had closed. She added that she’s in negotiations on a new lease and hopes to keep the location open.
The company that held onto the dwindling Pig Stand chain filed for bankruptcy in 2005, which briefly shuttered the Broadway location before it was revived by Hill, landlord Maria Hernandez and bankruptcy trustee Vincent Liuzza, Jr.
A representative of GrayStreet did not respond to requests for comment by publication time.
Editor’s note: This story was published through a partnership between KSAT and the San Antonio Business Journal.