Hendon Properties Completes Acquisition of Dominant Shopping Center in Gadsden, Alabama

Atlanta, Georgia (November 26, 2019) – Hendon Properties today announced the acquisition of Coosa Town Center, a 105,979 square foot, shopping center in the Gadsden trade area, an extension of the Birmingham MSA.

“This asset is exceptionally unique as there are no duplicate anchor tenant locations for more than 27 miles”, says Don Buggeln, Director of Acquisitions for Hendon Properties. “Post closing, our plan is to foster stability and sustain in-place occupancy through focused operational management.”

The center is currently 96% leased as of November 1, 2019 with first generation tenants accounting for 70% of occupied GLA.

Coosa Town Center is conveniently located steps away from the recreational Coosa River and is adjacent to historic Downtown Gadsden and its lively entertainment district.

The shopping center is anchored by top national retailers TJMaxx, Petco, Old Navy, and Burke’s Outlet. Shop tenants include Firehouse Subs, Sally Beauty Supply, GameStop and Sport Clips.

This is the first property Hendon Properties has acquired from CIM Real Estate Finance Trust of Phoenix, AZ.

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

Lance Hagaman
Anchor Leasing
404.926.1534
lance@hendonproperties.com

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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-suit 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.

Property Website: hendonproperties.propertycapsule.com/properties/coosatowncenter

Team Hendon will be exhibiting at the ICSC New York Deal Making Conference in the Javits Convention Center, December 11 – 12, 2019.  To setup a meeting with one of our team members, email us here.

For a map of the show floor, click here.  Find us at Booth 748.  We look forward to seeing everyone in the Big Apple!

 

Atlanta, Georgia (July 18, 2019) – Hendon Properties, in partnership with Harbert United States Real Estate Fund VI, L.P. (“HUSREF VI”) announces its closing on the sale of Westport Village, a 169,515 square foot lifestyle shopping center in the Louisville trade area.  The center was purchased by Wicker Park Capital Management, LLC, a privately held real estate investment firm out of Savannah, GA.

“I am proud of what we’ve accomplished and the relationships we’ve built at Westport Village”, says Charlie Hendon, President of Hendon Properties.  Over the last 3 years, Hendon executed 13 new leases (56,000 square feet), which included a 24,000 square feet box and renewed 32 leases (102,000 square feet), which included the expansion of 3 tenants.  Through Hendon’s use of creative social media marketing and live cultural events, the center has become the town square of the local community.

Westport Village is a destination retail center located near the intersection of Westport Road and Herr Lane, one-half mile east of Interstate 264.

Hendon Properties purchased Westport Village in May 2016.  The project is the second joint venture between Hendon Properties and the Harbert Management Corporation.

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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-suit 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.

About Harbert Management Corporation

HUSREF VI is sponsored by Harbert Management Corporation (“HMC”).  HMC, together with its sponsored funds, has owned, developed and managed multi-family, office, industrial, retail and self-storage properties throughout the United States.  HMC has a history of identifying real estate investment opportunities through its network of long-term, strategic relationships.  HUSREF VI’s approach is hands-on, targeting properties that the HUSREF VI Investment Team believes are undervalued, and where value can be created through focused operational management.  Additional information about HMC can be found at harbert.net.

Link to Official Press Release

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

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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.