ATLANTA (April 13, 2016) – SRS Real Estate Partners announced today that they represented Cypress Equities in the purchase of Covington Nord du Lac Shopping Center, a regional power center in Covington, La. Covington Nord du Lac is situated at the intersection of I-12 and Highway 21 in Covington, La. The project is comprised of 214,000 square feet of existing space, 83,000 square feet of partially-built improvements, and an additional 162,000 square feet of planned development space, totaling approximately 460,000 square feet. The property is anchored by national tenants such as Hobby Lobby, Academy Sports, Petco and Kohl’s.
“Covington Nord du Lac is a well-located, institutional-quality lifestyle center with an abundance of opportunity for the buyer,” said Kyle Stonis, senior vice president for SRS’ Southeast Investment Sales Team. “It’s a great acquisition for a group like Cypress, which has the experience and know-how to build upon the existing fundamentals of the asset and take it to the next level.”
Kyle Stonis, senior vice president, Scott Tiernan, vice president, and Pierce Mayson, vice president, in the SRS Atlanta office represented Cypress in the transaction.
About SRSReal 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, 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.