ATLANTA (July 25, 2016) – SRS’ Southeast Investment Sales team exclusively marketed and brokered the sale of Jacksonville Crossing Shopping Center in Jacksonville, Ala. The property is located at 1555 Pelham Road, which is situated north of the intersection of Pelham Road and George Douthit Drive. Jacksonville Crossing consists of 42,500 square feet on 5.12 acres of land and is anchored by Dollar Tree. The seller, ECP Jacksonville, LLC, sold the property STL Retail Properties, LLC, on July 15, 2016 for $3,763,000.
“Jacksonville Crossing presented an ideal opportunity for the purchaser to simultaneously expand their portfolio into Alabama while also recognizing the centers immediate value-add potential” said John Topping Jr., associate for SRS’ Southeast Investment Sales Team. “Essentially positioned as a Walmart shadow anchor, this asset is well-suited for the buyer’s portfolio and will help them to further establish their footprint in the Southeast.”
John Topping, Jr., associate, and Robert Drake, senior analyst in the SRS Atlanta Office, represented the seller, ECP Jacksonville, LLC, in the transaction. The buyer, STL Retail Properties, LLC, was represented by Matthew Mousavi, managing principal, and Patrick R. Luther, managing principal, of SRS National Net Lease Group in Newport Beach, Calif.
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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.