ATLANTA (January 13, 2015) – The SRS Southeast Investment Sales team has brokered the sale of a 136,927-square-foot grocery-anchored neighborhood shopping center in Eden, N.C. The property is located at 640 South Van Buren Road, which is situated at the southeast corner of the intersection of West Kings Highway and South Van Buren Road. The property, which is anchored by Save-A-Lot, Hibbett Sports, Aaron’s, and It’s Fashion Metro, sold for $6.15 million. The seller, RCG Ventures, sold the property to EH Scott, LLC on December 17, 2014.
“The sale of Meadow Greens represents a trend we continue to see as investors expand their acquisition parameters to more secondary and tertiary markets, targeting the top asset in these markets,” stated Kyle Stonis, senior vice president of SRS Investment Sales. “Meadow Greens is absolutely the market leading asset in Eden, N.C., after RCG Ventures did a phenomenal job energizing it over the past few years. The results speak for themselves in explaining why the asset represented an excellent opportunity for Coastal Equities to take ownership at this time and build upon the momentum at Meadow Greens created by RCG.”
Kyle Stonis, senior vice president, and Pierce Mayson, vice president, in the SRS Atlanta office represented the seller, RCG Ventures, in the transaction. EH Scott, LLC, the buyer, was represented by Scott Ross with Coastal Equities.
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, 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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