ATLANTA (September 2, 2015) – SRS’ Southeast Investment Sales team, along with Lincoln Property Co., has brokered the sale of Venture Pointe in Duluth, Ga. Venture Pointe is a 335,151-square-foot regional power center anchored by Kohl’s, Big Lots and Golfsmith. The property is located at 3855 Venture Dr., which is situated at the northwest corner of Venture Dr. and Steve Reynolds Blvd. The seller, Situs Holdings, LLC, sold the property for $15.7 million via Auction.com on August 25, 2015.
“Venture Pointe presented a rare opportunity for the right investor to acquire a regional power center within a major MSA with both existing national anchors and a significant value-add component,” said Kyle Stonis, senior vice president for SRS’ Southeast Investment Sales team. “Shopping centers like this tend to be few and far between in hot markets, and the high interest level we received confirmed the opportunity investors saw in this asset.”
Kyle Stonis, senior vice president, and Pierce Mayson, vice president, in the SRS Atlanta office, along with Tony Bartlett and Chip Sipple of Lincoln Property Co., represented the seller, Situs Holdings, LLC, in the transaction. The buyer did not have representation for this transaction.
About Dallas-based Lincoln Property Company
Dallas-based Lincoln Property Company is one of the nation’s largest diversified commercial real estate companies, employing over 6,800 people in 32 states and 10 countries in Europe. Since its inception in 1965, Lincoln has developed over 128 million square feet of office, industrial, and retail projects as well as 209,000 apartment units. Stemming from its development and ownership background, Lincoln’s operating platform seamlessly integrates its various service lines, provides for consistent and measureable performance and utilizes cutting-edge technology over its 350+ million square feet of managed assets.
For more information on the Southeast Region of Lincoln Property Company, please visit lpcsoutheast.com. To check out the blog, go to www.lpcsoutheast.com/blog
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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