SRS Real Estate Partners' January Transactions

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

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

Atlanta:
The SRS Southeast Investment Sales team brokered the sale of a 61,333-square-foot neighborhood shopping center in St. Cloud, Fla. The property is located at 3318 Canoe Creek Road, which is situated just north of the intersection of Canoe Creek Road and Old Canoe Creek Road. The property, which is anchored by Winn-Dixie, was sold for $7.7 million. The seller, Miller Group Development, sold the property to Canoe Creek, SC, LLC, an affiliate of Tricon Development, on January 9, 2015.

Kyle Stonis and Pierce Mayson of the SRS Atlanta and Orlando offices represented the seller, Miller Group Development, in the transaction. The buyer did not have representation in this transaction.

Additionally, for the month of December the SRS Southeast Investment Sales team completed sales transactions totaling more than 338,150 square feet of retail real estate. The sales were completed throughout the southeast in North Carolina, South Carolina and Mississippi and included major tenants such as Staples, Goodwill, Dollar Tree, Badcock Home Furniture & More, Big Lots, Burlington Coat Factory, Old Time Pottery, Kroger and more.

These transactions included the following:
Kyle Stonis and Pierce Mayson of the SRS Atlanta office represented Phillips Edison & Company in the sale of Fashion Place Shopping Center, a community center consisting of approximately 147,406-square-feet in Columbia, S. C. The property, which is located at 2720 Decker Blvd., was sold to JBL Management on December 26, 2014. The shopping center is anchored by Staples, Goodwill, Dollar Tree, It’s Fashion Metro and Badcock Home Furniture & More. The selling price of the property was undisclosed and the buyer did not have representation in the transaction.

RCG Ventures Fund I, LP sold Meadow Greens, a 136,927- square-foot grocery-anchored center, in Eden, N.C. The property is located at 640 South Van Buren Road, which is situated at the southeast corner of the intersection of West Kings Highway and South Van Buren Road. The property, which is anchored by Save-A-Lot, Hibbett Sports, Aaron’s, and It’s Fashion Metro, sold for $6.15 million. The seller, RCG Ventures, sold the property to EH Scott, LLC on December 17, 2014. Kyle Stonis and Pierce Mayson of the SRS Atlanta office represented the seller, RCG Ventures, in the transaction. EH Scott, LLC, the buyer, was represented by Scott Ross with Coastal Equities.

Stonis and Mayson also sold a 54,981-square-foot property in Greenville, Miss., which is anchored by Kroger. The property, which was sold on December 21, 2014, is located at 2135 Highway 82 East; which is situated just east of the intersection of South Raceway Road and Interstate Highway 82. Stonis and Mayson in the SRS Atlanta office represented the seller in the transaction. The buyer did not have broker representation in this transaction.

Austin:
The SRS Austin office has announced that they have represented DEFINE body & mind, an eco-friendly fitness studio specializing in barre, cycling, and yoga-infused classes, in the lease of a 2,300-square-foot space located at 1818 W. 35th St. in Austin, Texas. This will be the first location for DEFINE body & mind in Austin and plans to open around June 2015. Neighboring retail includes Viva Day Spa, Bradz Salon & Spa, and Blush Bridal Lounge.

Will Majors of the SRS Austin office represented the tenant, DEFINE body & mind, in the transaction. Parker Estes and Scott Freid with The Weitzman Group represented the landlord, GTT 1818, L.P.

Chicago:
The SRS Chicago office has announced that Honest-1 Auto Care has leased a 8,913-square-foot freestanding building just south of the southwest corner of Ogden Avenue (Route 34) and Eola Road in Aurora, Ill., joining area tenants McDonald’s, Starbuck’s and BP Amoco. The new Honest-1 Auto Care is planning its grand opening in the first quarter of 2015.

Michael Straus of the SRS Chicago office represented the tenant, Honest-1 Auto Care in this transaction.

Dallas:
The SRS Dallas/Ft. Worth office has announced that Carter’s, Inc. opened a 4,000-square-foot store at Quail Creek Crossing in Wichita Falls, Texas. Quail Creek Crossing is located at the corner of Lawrence Road and Maplewood. This children’s fashion retailer joins anchors Academy, Office Depot, Bed Bath & Beyond, Michaels, ULTA, PetSmart, Charming Charlie, dressbarn, James Avery and Kirkland’s within the 242,600-square-foot power center.

Dawn Greiner and Carey Moen of the SRS Dallas/Ft. Worth office represented the tenant, Carter’s, Inc. in the transaction. Quail Creek Crossing is a development by Quail Creek Crossing Ltd. Andy Lee with the Andy Lee Company represented the landlord.

Orlando:
Blo Blow Dry Bar recently signed a 958-square-foot lease at SkyHouse™ Orlando, the luxury high rise in downtown Orlando at 90 E. Livingston Street.

Adam Gerry and John Artope of the SRS Orlando office represented the landlord, SkyHouse Orlando, LLC. For more information, visit http://www.srsre.com/SkyHouseOrlando.

The Egg & I, a breakfast and lunch restaurant, recently signed three leases across the state. The first location is a 4,260-square-foot lease at 1933 University Dr., at the Promenade of Coral Springs with plans to open Jan. 26. The second location is a 3,660-square-foot lease at 2447 N. Wickham Rd. at Lake Washington Square in Melbourne with plans to open Feb. 2. Lastly, a 3,277-square-foot lease at 303 SE 17th St., at Churchill Square in Ocala with plans to open Feb. 23.

Adam Gerry of the SRS Orlando office represented The Egg & I in each transaction.

Hand & Stone Massage and Facial Spas (Hand & Stone) has signed a lease for a 2,537-square-foot space at Vickery Place in Lake Nona. Tavistock Development Company’s newest shopping center on Narcoossee Road, Vickery Place, will offer 11,000 square feet of retail space adjacent to Valencia College’s new campus and the Primrose School. The one-story building with seven retail bays will feature an oversized covered patio area with outdoor seating. Vickery Place is within walking distance of Valencia’s Lake Nona campus, as well as Lake Nona High School and less than two miles from the Lake Nona Medical City.

Blake Hunter of the SRS Orlando office represented the tenant, Hand & Stone, in the transaction.

San Jose:
The SRS San Jose office has announced that it brokered a controlling interest in the San Antonio Shopping Center in Mountain View, Calif., based on a total value of $62.2 million on behalf of its client, Federal Realty Investment Trust. Located at the well-trafficked intersection of W. El Camino Real and San Antonio Road, the 376,000-square-foot Walmart-anchored shopping center serves the prosperous Silicon Valley communities of Palo Alto, Mountain View, and Los Altos. In addition to Walmart, the shopping center is home to over 30 regional, national and local retailers, including Trader Joes, Kohl’s, 24 Hour Fitness, and JoAnn Fabrics.    

Randol Mackley and Bruce Frazer of the SRS San Jose office represented the buyer, Federal Realty Investment Trust, in the transaction, which closed Jan. 8, 2015. The seller was a private family trust.

The SRS San Jose office also announced that Carter’s will open a 9,505-square-foot store in the Westgate Center on Jan. 29, 2015. The children’s clothing retailer is adjacent to Target at the 645,000-square-foot community shopping center, located at the northeast corner of Hamilton and Saratoga in San Jose, Calif. Westgate Center features over 50 shops and restaurants and is anchored by Target, Nordstrom Rack, Walmart Neighborhood Market, Nike Factory Store, Old Navy, Burlington Coat Factory, Michaels, and Ross.

Dawn Greiner of the SRS Dallas/Ft. Worth office, and Laura Tinetti of the SRS San Francisco office represented Carter’s in the transaction. Westgate Center is owned and operated by Federal Realty Investment Trust.

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
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