SRS Real Estate Partners' September Transactions

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Highlights of SRS Real Estate Partners' September Transactions and New Assignments

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SRS Real Estate Partners (SRS) announces highlights of September transactions and new assignments.

Atlanta:

  • The SRS Southeast Investment Sales team has brokered the sale of an 89,880-square-foot neighborhood shopping center in Carrollton, Ga. The property is located at 525 Bankhead Hwy; which is situated along U.S. Highway 166 just west of the intersection of Northside Drive and Bankhead Highway. The property, which is anchored by Ollie’s Bargain Outlet, Badcock’s Home Furniture, Hibbett Sports and Family Dollar, was sold for $3.9 million.

Kyle Stonis and Pierce Mayson of the SRS Atlanta office represented the seller, Phillips Edison and Company, in the transaction. Scott Tarbet, with RCG Ventures, represented the buyer.

  • The project leasing team in Atlanta has secured a new lease at Krog Street Market (KSM). The 30,000-square-foot mixed-use redevelopment project, which is owned by Paces Properties, has secured a new restaurant lease with Atlanta-based restaurateurs Greg Best and Regan Smith. The new restaurant will consist of 1,658 square feet and will be located across the market floor from The Luminary. It will have direct access from the adjoining covered parking structure, as well as from within the market itself. The restaurant’s concept has yet to be revealed, but it is expected to be open nights and weekends, with a carry-out option for weekday lunch.

Lily H. Heimburger of the SRS Atlanta office represents the landlord, Paces Properties, LLC. Greg Best and Regan Smith were represented by Perry King with King Commercial Properties in this transaction.

  • NRP Development Company, LLC purchased a 1.59 acre outparcel at Outlet Shoppes of Atlanta in Woodstock, Ga. from CBL and Associates. The new 5,000-square-foot Applebee’s restaurant is scheduled to open in the winter of 2014. The outparcel is located at the southeast corner of Ridgewalk Parkway & Mall Entrance Drive. Additional area tenants at the center are Aeropostale, Chico's, Columbia Sportswear, GNC, J. Crew, Jos. A. Bank, Lenscrafters, Nike, Papaya, Skechers, Talbots, Toys“R”Us and Van Heusen.

Steve Gunning and Scott Tiernan of the SRS Atlanta office represented the tenant, Neighborhood Restaurant Partners in the transactions. Pamela Atwater with Atwater Commercial Real Estate represented the owner, CBL and Associates.

  • Kid to Kid, an upscale resale children’s fashion and equipment exchange, has signed a lease for a new location at The Shoppes of Scenic Highway shopping center in Snellville, Ga. The new store will be situated at an end-cap space which will consist of approximately 3,275 square feet. The shopping center is located at 2050 Scenic Hwy between Dogwood Road and Harbour Oaks Drive. Additional tenants in the center include T-Mobile, Jersey Mikes, Benchmark Physical Therapy, Lovely Nails, Rehab South, and Computer Repair.

Sarah Williams and Logan Elder of the SRS Atlanta office represented the tenant, Kid to Kid, in the transaction. Andrew Pressler with Skyline Seven Real Estate represented the landlord, Georgiaville Retail I, LLC.

  • Salons By JC, a leader in the salon suites industry, is opening its first two locations in Georgia at Sandy Springs Crossing in Sandy Springs and at Alpharetta Crossing in Alpharetta, Ga. The location at Sandy Springs Crossing opened Sept. 26, 2014 and consist of a 5,888-square-foot space. It is located on the northwest corner of the intersection of Roswell Road NE and Abernathy Road. The center is anchored by LA Fitness and additional tenants include Gwinnett College, Bride Beautiful, and Nori Nori Japanese Restaurant.

Sarah Williams and Logan Elder of the SRS Atlanta office represented the tenant, Salons By JC, in both transactions. As well, The Weitzman Group, out on the San Antonio, Texas office, provided additional tenant representation services. Coro Realty Advisors, LLC represented the landlords, ALG Limited Partnership and SSC Abernathy, L.P., in both transactions.

Dallas/Ft. Worth:

  • Half Price Books has leased a 10,000-square-foot space at Richardson Heights Shopping Center. Richardson Heights Shopping Center is located at 100 S. Central Expy in Richardson, Texas. Neighboring tenants include Alamo Drafthouse, Party City, TJ Maxx and 7-Eleven.

Tyler Isbell and Rick Ikeler of the SRS Dallas/Ft. Worth office represented the landlord, Hartman REIT, in the transaction. David Lewis with Lincoln Property Company represented the tenant, Half Price Books. For more information, please visit hpb.com.

Orlando:

  • Mynt, a fine Indian cuisine restaurant, recently signed a 2,158-square-foot lease at 535 W. New England Ave. in Winter Park. The restaurant is located in Hannibal Square, a historical neighborhood located on New England Avenue two blocks west of Park Avenue, between Virginia and Pennsylvania Avenues.

Jason Kaiser, CCIM of the SRS Orlando office was the exclusive retail leasing broker.

Phoenix:

  • The SRS Phoenix office has announced that ZK Grill, a Mediterranean fast casual restaurant, has leased a 2,347-square-foot space at the northeast corner of Guadalupe Road and Gilbert Road in Gilbert, Ariz. Other notable tenants located within Gilbert Crossing include Power MMA & Fitness, Firestone, Meridan Bank, and Tots Unlimited. This will be ZK Grill’s fourth location in the valley.

Scott Ellsworth of the SRS Phoenix office represented the tenant, ZK Grill, in the transaction. Cliff Johnson with Cassidy Turley represented the landlord, Tri Gate Capital.

San Francisco:

  • The SRS San Francisco office has announced that DSW Designer Shoe Warehouse (DSW) has signed a lease for a 14,818-square-foot space in the Bayfair Center in San Leandro, Calif. Located at 15555 E. 14th St., DSW will join anchors Target, Macy’s, Old Navy, Bed Bath & Beyond, Kohl’s, a 16-screen Century Theatre, along with other national and local retailers at this regional mall. The shopping center is easily accessible from Interstate 580 and adjacent to a dedicated Bay Area Rapid Transit (BART) station.

Tom Power of the SRS San Francisco office represented DSW in the transaction. Richard Wolf with Madison Marquette represented Bayfair Center.

San Jose:

  • The SRS San Jose office announced that Sprouts Farmers Market opened a 20,901-square-foot store in the Cupertino Crossroads shopping center in Cupertino, Calif. on Sept. 17. Located in the former PetSmart space at 20558 Stevens Creek Blvd., Sprouts joins Pier 1 Imports, TJ Maxx and other national and regional retailers in neighborhood shopping center.

Bob Berndt and Sarah Edwards of the SRS San Jose office represented Sprouts in the transaction. Rick Shaffer with CBRE represented the landlord, Mardesich Company, LLC.

About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 20 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. 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. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.

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Christina Wezwick
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