Atlanta, Georgia (July 16, 2019) – Hendon Properties today announced the acquisition of The Forum at Grandview, a 216,144 square foot, shopping center in the Madison trade area, a submarket of the Jackson MSA.

“We are excited to start doing business in the City of Madison; our company’s first venture in Mississippi,” says Charlie Hendon, President of Hendon Properties.  “Post closing, our plan is to foster stability and sustain in-place occupancy through focused operational management.”

The deal also includes eight (8) acres of undeveloped frontage along Grandview Boulevard, which Hendon sees as a creative opportunity and potential upside.  The center is currently 100% leased as of July 1, 2019.

The Forum at Grandview is highly visible to Interstate 55 (Exit 108) and is anchored by top national retailers Best Buy, Home Goods, Michaels, Petco, ULTA, and Dick’s Sporting Goods.  The center is also adjacent to Malco Grandview Theater and Miskelly Furniture.

This is the second acquisition between Hendon Properties and CBL Properties.  In 2013, Hendon Properties purchased 3 regional shopping centers and 3 related associated centers in a portfolio transaction.  Included in the portfolio were Georgia Square Mall and Georgia Square Theater in Athens, GA; Panama City Mall and The Shoppes at Panama City Mall in Panama City, FL; and RiverGate Mall and Village at RiverGate in Nashville, TN.

Persons interested in learning more about leasing space should contact the following representatives:

Lance Hagaman
Anchor Leasing
404.926.1534
lhagaman@hendonproperties.com

Janet Duke
Small Shops Leasing
615.944.3118
jduke@hendonproperties.com

Steve Spiegel
Development
404.926.1527
sspeigel@hendonproperties.com

###

About Hendon Properties

Hendon Properties is a full-service development, brokerage and management organization with a specific focus on community and regional shopping centers as well as credit tenant build-to-suite developments.  The Hendon team is actively involved in all aspects of retail real estate, including: site selection, project budgeting, due diligence, engineering, architecture, construction and leasing.  In 2019, Hendon Properties celebrates its 34-year anniversary.

Link to Official Press Release

Team Hendon will be exhibiting at the ICSC RECON Conference in the Las Vegas Convention Center, May 20 – 22, 2019.  Find us at Booth C163K in Central Hall.  For a map of the show floor, click here.

Let’s schedule to meet, email us here.  We look forward to seeing everyone!

Team Hendon will be exhibiting at the ICSC New York Deal Making Conference in the Javits Convention Center, December 5 – 6, 2018.  For a map of the show floor, click here.  Find us at Booth 748.  To schedule a meeting, email us here.  We look forward to seeing everyone in the Big Apple!

Join us at Booth #C163K in Central Hall, May 21 – 23 at ICSC RECON 2018 held at the Las Vegas Convention Center.

Hendon Retail Services to provide leasing and property management services for Suwanee Jubilee, a 73,521 square feet asset in Suwanee, Georgia.  The open-air center touts a sophisticated collection of service oriented businesses, restaurants, and is anchored by The Fresh Market, an upscale grocer.  Located at 1500 Peachtree Industrial Boulevard, the neighborhood specialty center caters to an average household income of over $124,000 within a 3-mile radius.

Suwanee Jubilee was recently acquired by Glen Una Management.

For more information, contact Jackie Wammock at 678.919.8440.

About Hendon Retail Services
Hendon Retail Services (HRS) is a highly specialized retail real estate advisory firm that takes on a principal led approach to retail leasing and management.  A collaboration between retail industry veteran’s Jackie Wammock, CRX, CLS and Charlie Hendon, HRS is founded on the principles of providing the highest level of service to all clients.

Hendon Retail Services to provide leasing services for Market Square I Shopping Center, a 123,058 square feet asset in Macon, Georgia.  Owned by Gray Highway Holdings, Market Square is anchored by Dollar General Market, Farmers Furniture, Aaron’s, and national tenants T-Mobile and Citi Trends.

For more information, contact Jackie Wammock at 678.919.8440.

About Hendon Retail Services
Hendon Retail Services (HRS) is a highly specialized retail real estate advisory firm that takes on a principal led approach to retail leasing and management.  A collaboration between retail industry veteran’s Jackie Wammock, CRX, CLS and Charlie Hendon, HRS is founded on the principles of providing the highest level of service to all clients.

Join us at Booth #3239 on December 6 & 7 at the 2017 ICSC National Deal Making Conference at the Jacob K. Javits Convention Center in New York.

Hendon Retail Services lands deal to provide leasing services for East Gate Shopping Center a 75,716 square feet asset in Aiken, South Carolina and Furys Ferry a 70,458 square feet asset in Augusta, Georgia.  Both properties are anchored by Publix Super Markets in addition to a complimentary mix of local and national restaurants and service oriented shops.

East Gate Shopping Center and Furys Ferry are owned by New Market Properties, a wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc. based in Georgia.

Charlie Hendon stands alongside Georgia Governor Nathan Deal and fellow members of the music industry to mark the passage of the Georgia Music Investment Act.

Click here for official Press Release.

Charlie Hendon, an avid music enthusiast, is founder/partner in Madison Records, an indie record label out of Atlanta, Georgia.  Madison Records has its own recording studio and production team of experienced and creative producers and consultants.  To learn more, visit www.madisonrecords.com.

Bargain Hunters Pounce on Weak Retail Properties, by Esther Fung

Wall Street Journal Online, May 30,2017

Most of the buyers say they have plans to improve operations and expect higher returns

As investors flee the battered retail-property sector, a few brave ones are picking through the wreckage.

GBT Realty Corp., a Brentwood, Tenn., property developer, is planning to raise a $500 million real-estate fund to purchase 80 to 100 retail buildings in the next decade.

Hendon Properties LLC, a real-estate development, management and brokerage firm based in Atlanta, is also looking to raise a fund to buy weak malls and open-air shopping centers.

“The opportunistic money is circling,” says Jeff Edison, chief executive of Phillips Edison & Co., an owner and operator of more than 340 grocery-anchored shopping centers across the U.S. “They smell blood in the water.”

So far this year, retailers have announced more than 3,000 store closures in the U.S. as a result of bankruptcy filings or shifts to e-commerce operations. The few chains that are still expanding, such as discount chain Burlington Stores Inc., are opening smaller stores in wealthier ZIP Codes.

The bifurcation between healthy properties in upscale regions and slumping ones in less-wealthy areas is creating bargains for some hardy investors.

While prices haven’t fallen to distressed levels, in some cases the land value itself is worth the purchase price, the investors say. Yet most of the buyers say they have plans to improve operations and expect higher returns.

“In some cases, the needle has swung too far and we want to take advantage of it,” says Charlie Hendon, chief executive and president of Hendon Properties.

The firm plans to raise $10 million to $20 million for the fund and will join with other institutional investors that will fork out the majority of the equity in potential projects. Hendon previously has partnered with investors such as Alabama investment firm Harbert Management Corp. and Acadia Realty Trust .

GBT Realty, which builds neighborhood shopping centers, single-tenant buildings and strip centers, already has several target acquisitions in mind, mostly open-air and grocery-anchored centers. It also could buy anchor department store locations in malls directly from retailers and reposition them by bringing in new tenants, says Scott Porter, managing director of GBT’s value-add division.

In general, the acquisitions will average around $10 million to $30 million, GBT says.

GBT already has an in-house leasing team with relationships in the retail community, says Chief Financial Officer Geren Moor. “We’re looking for assets where we can add value, such as backfilling vacant spaces,” says Mr. Moor. He added that the firm will continue with ground-up development operations, though such projects have tighter margins these days.

“There are mall investors with patient capital that can wait for the existing leases to ride out and bring in other uses to reposition the property,” says Margaret Caldwell, managing director at JLL Capital Markets. “We are also seeing new investors that are interested in buying malls due to potentially high yields.”

Time Equities Inc., a New York real-estate firm, recently purchased two Tennessee malls for $53.5 million, one in Morristown and the other in Maryville, making a bet it can revitalize the assets.

“The Tennessee portfolio presented the ideal opportunity to acquire two dominant middle market centers, both of which were priced attractively, have stable tenant rosters and showcase significant growth potential,” says Ami Ziff, director of national retail for Time Equities.