ATLANTA (April 29, 2014) – SRS Real Estate Partners is pleased to announce the closing of Brookwood Village, a dynamic 816,000-square-foot mixed-use development in the affluent Mountain Brook area of Birmingham, Ala. This asset was purchased by a Fund managed by Cypress Equities which has acquired more than $400 million dollars of retail properties during the last year. Kyle Stonis and Pierce Mayson, from the investment sales team of SRS Real Estate Partners out of Atlanta, arranged the sale of the asset to Cypress Equities.
The 816,000-square-foot Brookwood Village consists of a 604,000-square-foot, two-level enclosed mall, a 41,900-square-foot grocery-anchored retail component, plus a nine-story 170,000-square-foot Class “A” office building. The retail portion of the project is anchored by Macy’s, Belk and Books-A-Million, and also features such top brand names as Banana Republic, Brookstone, Jos. A. Bank, LOFT, Victoria’s Secret and Z Gallerie. In addition, leading branded footwear and accessories retailer DSW Designer Shoe Warehouse opened an 18,000-square-foot location at Brookwood Village adjacent to The Fresh Market on March 13. The office building is 98% leased and features widely recognized tenants including Kinder Morgan, Merrill Lynch and PWC.
“Cypress Equities is excited to add Brookwood Village to our portfolio of properties,” stated Todd Minnis, managing partner and CIO of the real estate investment management division of Cypress Equities, which acquired the property. “The development is situated at the convergence of communities that comprise some of the strongest demographics in Birmingham. Although the property already showcases an impressive roster of successful retailers and restaurants, our team has plans to further position Brookwood Village as the preeminent mixed-use development in the market.”
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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