SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of Twin Oaks in Montgomery, Ala. The community center consists of 97,189 square feet situated on 9.00 acres of land. It is 97 percent occupied by tenants such as T.J.Maxx, Party City, Dollar General, Hibbett Sports, Catherines, Leslie’s Pool Supplies, Jackson Hewitt and more. The property is located at 2717-2787 Eastern Boulevard, at the northwest corner of the intersection of Eastern Boulevard and Vaughn Road with a traffic count exceeding 48,000 vehicles daily. The seller, RCG-Montgomery, LLC sold the property on February 15, 2018 for $10.5 million to PDQ Acquisitions Corporation.
“The acquisition of a solid T.J.Maxx-anchored asset like Twin Oaks will be very accretive to the buyer’s portfolio,” said Pierce Mayson, principal, Investment Properties Group “Despite the fluidity of the current retail investment climate, we continue to see unwaning confidence in the TJX brands from the investment community.”
Kyle Stonis, managing principal, and Pierce Mayson, principal, both of the Investment Properties Group in the SRS Atlanta office represented the seller in the transaction. The buyer did not have representation in this transaction.
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 and investment 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 www.srsre.com.