ATLANTA (November 18, 2015) – SRS’ Southeast Investment Sales team has brokered the sale of Satilla Square in Waycross, Ga. Satilla Square is an 117,212-square-foot community center anchored by Dollar General Market and Big Lots. The property is located at 1803 Knight Ave., which is situated at the northeast corner of Knight Ave. and South City Blvd. The sellers, Satilla Square, LLC, Henderson Satilla, LLC and Satilla Land, LLC, sold the property for $4.26 million on November 17, 2015 to Baer Asset Management Company.
“With potential to add value to a center with national anchors already in place, Satilla Square represented what is becoming a rare opportunity in the market these days,” said Pierce Mayson, vice president for SRS’ Southeast Investment Sales team. “Given that value-add investors are being required to think creatively outside-the-box to generate upside right now, the buyers were excited to be able take the history of success that the long-time owners have had at Satilla Square and grow it going forward through a process of stabilization.”
Kyle Stonis, senior vice president, and Pierce Mayson, vice president, in the SRS Atlanta office represented the sellers, Satilla Square, LLC, Henderson Satilla, LLC and Satilla Land, LLC in the transaction. The buyer was did not have representation in this transaction.
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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