Our extensive experience in retail will offer U.S. retailers the necessary bridge for a soft landing and an accelerated startup in their ideal Asian markets.
Dallas, Texas (PRWEB) May 15, 2012
SRS Real Estate Partners (SRS), the largest national real estate company exclusively dedicated to retail services, announces the launch of SRS Asia, the first international office for the Dallas-headquartered firm. The new office, the company’s 23rd overall, will be based in Hong Kong, which has seen retail sales growth of more than 17 percent year-over-year.
“Our retail clients have been asking for help in the global retail space for years, so SRS is pleased to announce that we now have a team on the ground in Asia,” said Chris Maguire, CEO and Chairman, SRS. “We are seeing a growing trend of grocers, mass merchandisers, and fashion and luxury brands requesting a strong presence in Asia, so Hong Kong was a very logical choice for our first international office due to its strong economic growth, proximity to mainland China, high consumer confidence, dynamic retail market, and middle class population on the rise.”
SRS Asia will provide retailers the same multi-faceted core services offered by the SRS North American offices, delivering innovative support throughout its five service verticals – brokerage, corporate, development, investment, and management. These offerings will be tailored to the unique needs and opportunities of China and the broader Asian marketplace, as well as to the specific requests of SRS’ more than 540 clients. One additional differentiator to SRS’ international approach will be SRS’ tenant rep mindset opposed to the industry’s traditional product broker approach.
The SRS Asia service line emphasis includes:
- Tenant Advisory: helping U.S. retailers become familiar with China and operating retail enterprises within China;
- Tenant Representation: assisting U.S. retailers with site selection for existing project space and to create development opportunities for a group of retailers with common goals;
- Lease Administration: servicing occupier lease administration needs;
- Design and Development Advisory: helping retailers and owners/ investors with retail components in their developments with existing projects, new development projects and with bank owned assets;
- Management & Leasing: agency services aimed at helping owners and investors with asset and property management, accounting, and project leasing.
"Because the current emphasis of commercial real estate in Asia is focused more on the product than the tenant, SRS Asia is coming into the marketplace with a great advantage,” Maguire said. “SRS Asia specializes in tenant representation and focuses solely on retail real estate. We have been helping U.S. retailers for more than 25 years, so our extensive experience in retail will offer U.S. retailers the necessary bridge for a soft landing and an accelerated startup in their ideal Asian markets.”
SRS began its global expansion efforts in 2011 when it was introduced to a partner that shared its vision for Asia. The SRS partner is made up of the leaders of one of the most prolific development and commercial real estate companies in China, possessing local service provider relationships, and access to and relationships with governmental authorities throughout China.
SRS’ Don Edrington was chosen to lead the company’s expansion into Asia and will partner with Hong Kong local, Jennifer Hui, to head up the SRS Asia office. Both Edrington and Hui will be managing directors.
Edrington previously served as senior vice president and market leader for the SRS Denver office since it opened in 2002 and has executed more than 1,000 retail transactions in his 20 years of real estate experience. His experience in strategic, multi-market expansion planning and implementation has resulted in high-volume profitable stores for his clients. Edrington has extensive knowledge of retail development, build-to-suit development and has designed and executed expansion programs for a variety of retailers.
Hui knows the unique challenges of being a retailer in Asia as she has prevalent experience in representing market expansion plans of retail brands throughout multiple regions of China. She is an architect and interior designer by trade. Hui’s sense for sophisticated design coupled with her experience in building retail brand strategies, site selection, landlord negotiations and development advisory gives her clients a distinctive perspective to retail store development.
For more information about SRS Asia, visit http://www.srsre.com/asia.
About SRS Real Estate Partners
SRS Real Estate Partners (SRS) is the largest real estate company in the U.S. exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices nationwide and abroad, SRS’ strong reach across the country and international presence provides the company with unparalleled knowledge from both local and global perspectives. 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 management 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.