REBusinessOnline

SRS BROKERS SALE OF FIVE RETAIL PROPERTIES FOR $60M

ATLANTA — SRS Real Estate Partners’ Southeast investment sales team in Atlanta, led by Kyle Stonis and Pierce Mayson, has executed five retail sales transactions since Aug. 21 totaling more than $60 million. Stonis and Mayson, along with Ray Uttenhove and Scott Tiernan of SRS, represented an entity affiliated with Cypress Equities in the acquisition of Promenade Tannehill Shopping Center, a regional power center consisting of approximately 347,000 square feet in Bessemer, Ala., from Colonial Properties Trust. The property is located at 4965 Promenade Parkway, within the Birmingham–Hoover metropolitan area. The shopping center is anchored by Publix, Michaels, JC Penney, PetSmart and Ross Dress for Less. The Suwanee Jubilee Shopping Center in Suwanee, Ga., was purchased by Urbana Suwanee Jubilee LLC, which Stonis and Mayson represented. The 73,521-square-foot neighborhood shopping center, located at 1500 Peachtree Industrial, is anchored by The Fresh Market. Miller Group Investment Corp. sold 14 Monticello Road in Weaverville, N.C., which is currently occupied by a 23,627-square-foot Tractor Supply Co., to Cole Credit Property Trust IV Inc. The property is located about 10 miles north of Asheville, N.C. Stonis and Mayson represented the seller in the transaction. Cole Real Estate Investments Inc. was represented internally by Dan Lovitz. Fort Valley Shopping Center, a 71,887-square-foot neighborhood center in Fort Valley, Ga., was sold by Fort Valley Partners LLC to PDQ Fort Valley. The property is located at 2275 Highway 341 in Peach County, about 30 miles southwest of Macon, Ga. Food Depot and Roses, both of which have long-term leases in place, anchor the property. Stonis and Mayson represented the seller in the transaction. Lastly, Stonis and Mayson brokered the sale of a 62,322-square-foot property in Jackson, Miss., which is currently occupied by Virginia College. The property is located at 5841 Ridgewood Road. Josh Burmeister and Buff Teague of SRS Real Estate Parnters’ Mobile, Ala., office represented the seller in the transaction. The buyer did not have broker representation in this transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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