SRS Real Estate Partners' November Transaction Highlights

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Highlights of SRS Real Estate Partners' November transactions and new assignments.

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

Atlanta:

  • The SRS Southeast Investment Sales team has brokered the sale of a 77,260-square-foot neighborhood shopping center in Orlando, Fla. The property is located at 16825 E. Colonial Dr., which is situated at the northeast corner of the intersection of Chiliota Road and East Colonial Drive. The property, which is anchored by Publix and Tractor Supply Co., was sold for $14.6 million. The seller, Miller Group Development, sold the property to an entity related to Publix Super Markets on Oct. 20, 2014.

Kyle Stonis, senior vice president, and Pierce Mayson, vice president, in the SRS Atlanta and Orlando offices represented the seller, Miller Group Development, in the transaction.

  • SRS Real Estate Partners (SRS) is pleased to announce the 30,000-square-foot mixed-use redevelopment project, Krog Street Market (KSM), officially opened to the public Monday, Nov. 24. KSM, which is owned and operated by Paces Properties, is located at 99 Krog St. at the southeast corner of the intersection of Krog Street and Irwin Street in historic Inman Park. The reuse retail development project has been transformed into a 30,000-square-foot food hall and urban market comprised of sixteen food and retail market stalls, five chef driven restaurants, and two freestanding retail buildings.

The Market also provides numerous amenities including bike racks, electric car charging stations, and a communal dining area. Visitors will have access to valet and self-parking, including covered parking, and is a pet-friendly locale with numerous water stations throughout. Located right off the Atlanta Beltline, Krog Street Market’s hours of operation will be Monday through Thursday, 7 a.m. until 9 p.m., Friday 7 a.m. until 10 p.m., Saturday 8 a.m. until 10 p.m. and Sunday 8 a.m. until 9 p.m. KSM’s anchor restaurants and market tenants will each establish their own hours of operations.

Currently open retailers include The Collective, a co-op local artist, French Market Flowers, a florist specializing in sustainably-grown flowers and gifts, Krog Street Pet Works, a pet specialty boutique and pet art gallery, Mama Bath + Body, a purveyor of handmade soaps and lotions, The Spotted Trotter Charcuterie, full American butchery, charcuterie and cheese shop, and Xocolatl Small Batch Chocolate, a local chocolatier. The food stalls include Grand Champion BBQ, Jeni’s Splendid Ice Creams, Little Tart Bakeshop, featuring Octane coffee and two concepts from The West Egg/General Muir team are Fred’s Meat & Bread, offering burgers and classic sandwiches and Yalla, serving contemporary Middle Eastern cuisine.

Craft Izakaya, a Japanese fusion and sushi restaurant, and The Luminary, an American brasserie with regional influences, have both been open since August. Additional restaurants including Chef Ford Fry’s Superica, along with several market stalls are slated to open within the following months.

“SRS could not be more proud to be a part of this groundbreaking redevelopment,” said Lily H. Heimburger, vice president in the SRS Real Estate Partners’ Atlanta office. “Personally, it has been an exhilarating experience to assist in the execution of this project.” Lily H. Heimburger represents the landlord, Paces Properties, LLC.

Phoenix:

  • SRS is pleased to announce that Dollar Tree has signed four new leases continuing their expansion efforts throughout Arizona. Dollar tree is an actively expanding customer-oriented, value-driven variety store operating at a one dollar price point.

Dollar Tree’s first new location is a 10,800-square-foot space now open at Chandler Festival located at the northeast corner of Chandler Boulevard and Loop 101 in Chandler. Other tenants include Lowes, Nordstrom Rack, Buy Buy Baby, T.J.Maxx, and Ulta Beauty.

The second new location for the discount store is a 10,204-square-foot space at Cotton Plaza located at the northeast corner of Bell Road and Cotton Lane in Surprise. Tenants in the center include Walgreens and Ace Hardware. This Dollar Tree location is now open.

Dollar Tree’s third location is an 8,625-square-foot space in Bell Camino Shopping Center located at the northwest corner of Bell Road and Del Webb Road in Sun City. Other tenants in the center include Safeway and CVS. The Dollar Tree plans to open early 2015.

Dollar Tree’s fourth new location is a 7,840-square-foot space located at the southwest corner of Guadalupe Road and Hawes Road in Mesa. The Dollar Tree is now open in the Walmart Neighborhood Market anchored shopping center.

Kurt Kalocin with the SRS Phoenix office represented the tenant, Dollar Tree, in the four transactions. RED Development represented the landlord, Chandler Festival SPE, LLC at the Chandler Festival location. Jason Fessinger with Strategic Retail Group represented the landlord, Bell Cotton, LLC at the Bell and Cotton location. Dan Lupien with Kimco Realty Group represented the landlord at Bell Camino Shopping Center. Kalen Rickard with Strategic Realty Group represented the landlord Guadalupe Five Timbers, LLC at the Guadalupe and Hawes location.

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 http://www.srsre.com.

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Christina Wezwick
SRS REAL ESTATE PARTNERS
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