Mobile, Ala. (February 1, 2013) – SRS Real Estate Partners (SRS), the largest national real estate company in the country exclusively dedicated to retail services, represented Mobile-based Burton Property Group LLC in the $37,000,000 purchase of Jubilee Square Shopping Center located in Daphne, Alabama. L-A Daphne, LLC was the Seller. The 360,000 square-foot regional power center is located on the southeast quadrant of I-10 and Highway 98. Current retailers include Dick’s Sporting Goods, ULTA, TJ Maxx, SteinMart, Office Depot, The Fresh Market, and Carmike Jubilee Square 12.
“Jubilee Square is a solid acquisition for our retail portfolio,” said Philip Burton, president and CEO of Burton Property Group. “This center is a proven regional shopping destination and further demonstrates BPG’s belief in the strength of the South Alabama retail market.”
Josh Burmeister and Buff Teague with SRS Real Estate Partners in Mobile represented Burton Property Group in the acquisition and will now be responsible for the leasing of the center. Stephen Harvey with McDowell Knight Roedder & Sledge served as Burton Property Group’s counsel.
About Burton Property Group LLC
Burton Property Group (“BPG”) was formed in 2011 and was founded on the legacy of the former Smith’s Bakery of Mobile, AL, which dates to 1900. Burton Property Group was capitalized with the proceeds from the recent sale of MCS Investments and Silver Sands Equity Investors ownership stakes in the Silver Sands Outlet Mall located in Destin, FL to Simon Property Group (NYSE: SPG). MCS Investments Inc. was founded by Margaret Caroline Smith from the sale of Smith’s Bakery to Earthgrains Co. in 1983.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in the U.S. 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.
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