SRS Negotiates Sale of 467,358 SF Retail Portfolio in Southeast
RICHMOND, VA. — SRS’ Investment Property Group (IPG) has negotiated the sale of a four-property, 467,358-square-foot retail portfolio spanning four Southeastern states. Richmond-based Hackney Real Estate Partners acquired the portfolio, which comprises New Smyrna Beach Shopping Center in New Smyrna Beach, Fla.; Marintown Plaza in North Augusta, S.C.; Kings Fairground in Danville, Va.; and a single-tenant building net-leased to The Home Depot in Dothan, Ala. The sales price was not disclosed.
The largest shopping center in the portfolio is Marintown Plaza, a 141,903-square-foot property that was fully leased at the time of sale to tenants including Belk, Planet Fitness, Office Depot, Advance America Cash, Jersey Mike’s Subs, OneMain Financial, Jackson Hewitt Tax Service, Sonic, Ruby Tuesday and Taco Bell. Kings Fairground spans 120,153 square feet and includes anchor tenants Ollie’s Bargain Outlet and Tractor Supply Co. New Smyrna Beach Shopping Center is a 101,037-square-foot asset that was 98 percent leased at the time of sale to tenants such as AMC Theatres, Planet Fitness and Dollar General. Kyle Stonis and Pierce Mayson of IPG represented the sellers in the transaction.