DALLAS (January 7, 2013) – SRS Real Estate Partners (SRS) represented both the buyer and the seller in the sale of the 200,084-square-foot Walmart Supercenter located in Schillinger Towne Centre in Mobile, Ala. The Triple Net Group LLC purchased the property for $17 million from Mobile-based Burton Property Group, LLC.
“This Walmart Supercenter is a very well-performing store in a burgeoning area of Mobile,” said Joe Eisenberger with The Triple Net Group. “We are happy to have added another quality asset like this to our growing portfolio.”
“This sale was a strategic opportunity for our company,” said Philip Burton, president and CEO of Burton Property Group. “We intend to redeploy the capital into new investments in South Alabama in an effort aimed at continued growth of our retail portfolio.”
Kyle Stonis and Pierce Mayson in the SRS Atlanta office represented the buyer, The Triple Net Group LLC in the transaction. Josh Burmeister and Buff Teague in the SRS Mobile office represented the seller, Burton Property Group, LLC. Stephen Harvey with McDowell Knight Roedder & Sledge served as the seller’s counsel.
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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