Development opportunities are still available for the sophisticated investor.
Dallas, Texas (PRWEB) January 17, 2012
SRS Real Estate Partners (SRS) announced today they have been awarded the representation of a five property investment sales portfolio with properties located throughout the state of West Virginia. SRS broker and head of investment services in Atlanta, Kyle Stonis, was instrumental in winning the portfolio and will represent the five properties with support from the SRS Atlanta team.
After a competitive bidding process, SRS was awarded the portfolio consisting of 615,875 square feet of neighborhood and community shopping centers. The five properties are all located along heavily traveled retail corridors that are concentrated within stable and well established areas in West Virginia. The properties in this portfolio are The Crossings Shopping Center in Elkview, W.Va.; Fayette Landing Shopping Center in Oak Hill, W.Va.; Valley Pointe Shopping Center in Elkins, W.Va.; Merchants Walk Shopping Center in Summersville, W.Va.; and Marion Square Shopping Center in Fairmont, W.Va. The centers have a tenant mix of regional and national retailers including Kroger, Big Kmart, Food Lion, CVS/pharmacy, Peebles, McDonald’s, Bob Evans, Applebee’s, Shoe Show, Hibbett Sports, Advance Auto Parts, Auto Zone, Dollar Tree, Subway, Pizza Hut and many others.
“The portfolio is currently 92% leased,” said Kyle Stonis, senior vice president and head of investment services in Atlanta. “However, multiple relocation, repositioning, expansion, and development opportunities are still available for the sophisticated investor.”
SRS investment services was established in 2002 and has team members across the nation who specialize in investment sales, sale/leasebacks, commercial mortgage brokerage and financial advisory. As the nation's largest retail-specific platform, SRS provides retail investment advice by using local market knowledge and an understanding of capital markets. SRS investment services experts use proprietary internal and industry-leading third-party tools to push out quality marketing materials and have a dedicated support team with over 25 years of retail transaction experience.
About SRS Real Estate Partners
SRS Real Estate Partners (SRS) is the largest national real estate company in the country exclusively dedicated to retail services. Headquartered in Dallas with multiple offices nationwide, SRS’ strong presence across the country provides the company with unparalleled local knowledge on a national platform. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, investment services and managed services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. For more information, please visit http://www.srsre.com.