Monthly Insight into the Capital Markets
SRS Real Estate Partners is pleased to distribute it’s monthly investment sales newsletter presented by the Atlanta Investment Sales Team, composed of Kyle Stonis, Pierce Mayson and David Holcombe.
Southeast Retail Investment Summary
Ace of Space
Ace Hardware is ramping up its “Express” format, hoping to helpshopping center owners integrate the brand into their existing properties by occupying smaller 5,000 SF spaces. Express stores will offer more than 11,000 of Ace’s “best in class” hardware products from its larger, traditional stores. Ace plans to offer incentives of up to $150,000 to its retailers which utilize the Express format. There are currently over 400 Ace Hardware locations running successfully in 5,000 SF or less in six U.S. states, including Kansas, Massachusetts, North Dakota, Tennessee, New York and Texas.
Source: retailingtoday.com
Net Leased Retail Properties Continue to Heat Up
Average cap rates for single tenant net leased retail properties compressed an additional 25 basis points from Q1 to Q2 2012. The sectors that enjoyed the most cap rate compression included; bank properties, auto parts stores and dollar stores. Properties leased to banks lead the way with cap rates compressing 35 basis points.Single tenant net lease development is also on the rise with several tenants increasing their estimated expansion plans. McDonalds increased their expansion plans from 20 to 170 new stores in 2012. Family Dollar has also more than doubled their expansion plans from 200 stores in 2011, to 500 stores in 2012. Chase Bank and PNC bank will open 300 and 424 new locations respectively.
Source: retailtrafficmag.com
On the Market!
Promenade Montgomery Shopping Center
165,114 SF
Winn-Dixie (Shadow), hhgregg, Guitar Center, Tuesday Morning, Goody’s, Rainbow
Montgomery, AL
For more information, contact Kyle StonisSet a Meeting With Us
at ICSC Florida Conference
August 19-21, 2012
Booth 929Investment Sales Team
Kyle Stonis Pierce Mayson David Holcombe Senior Vice President Senior Associate Associate 678.420.1393 404.231.4696 678.420.1387 [email protected] [email protected] [email protected]