SRS Real Estate Partners is jumping the Pacific with a new operation in China.
The Dallas-based property firm is opening an office next month in Hong Kong to serve its U.S. retailer clients who want to expand into Asia.
“With the growth here in the U.S. slowing down, retailers are looking internationally,” CEO Chris Maguire said Thursday. “China and Asia have the most appeal in terms of the growth opportunities.”
SRS handles property market services for some of this country’s biggest retailers, including Brinker Restaurants, CVS Pharmacy, Steak ’n Shake and Target.
The company has 20 offices in the U.S., and has done deals previously in Europe and Latin America.
But Maguire said the real opportunity going forward is going to be in Asia.
“As opposed to the U.S. that is way over-retailed per capita, Asia is the opposite extreme,” he said. “International retailers have a small presence over there.
“We have been listening to our retailers for years and have followed them and provided services,” Maguire said. “International is a big need for them right now.”
SRS is relocating a senior partner in its Denver office, Don Edrington, to head the new Hong Kong operation.
The office will be open the first week in June, Maguire said.
SRS was founded by Maguire and Roger Staubach in 1986 and does retail property business nationwide.
Just this week the company announced it was forming a strategic partnership with Boston-based Cresa, an office and industrial brokerage firm.