REAL ESTATE

JLL adds trio of retail experts in Florida

BY Katherine Boccaccio

Orlando, Fla. — JLL continues to build its retail brokerage practice in Florida with the addition of Andrew Dieringer, Terrence Hart and Brandon Delanois. The trio bring more than 40 years of retail agency leasing and tenant representation experience to the team, and will be based in the firm’s Orlando office. Together, they will partner with John Lambert, Florida Retail Market Lead for JLL, and Justin Greider, VP of JLL, to help investors achieve their asset goals and work with retailers to identify and secure optimal new locations.

Andrew Dieringer was formerly with JLL, before a brief hiatus, and prior to that served as Senior Leasing Associate at Madison Marquette Realty Services. Terrence Hart worked for Forness Properties as VP of Leasing and Sales, focusing on a portfolio of 15 retail centers throughout Florida.

Brandon Delanois previously worked for UCF Convocation Corporation as the Director of Development and Promotions where he was responsible for reviewing the financial viability of prospective tenants and providing a complementary tenant mix.

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REAL ESTATE

Halpern Enterprises breaks ground on multi-use development

BY Katherine Boccaccio

Smyrna, Ga. — A groundbreaking ceremony has officially launched construction on Belmont, a 48-acre mixed-use development that will feature restaurants, retail shops, single-family homes and luxury rental apartments on the site of the former Belmont Hills Shopping Center in Smyrna, Georgia.

The development will include a 153-home single-family residential subdivision by David Weekley Homes; a 274-unit luxury apartment community by Wood Partners; and a 47,593-sq.-ft. neighborhood retail center, which developer Halpern Enterprises will build.

The site is already the location of Smyrna Elementary School, which has more than 900 students and opened last year. It once featured Belmont Hills Shopping Center, a well-known shopping destination in Cobb County. The 480,000-sq.-ft. center, which opened in 1954 and was purchased by Halpern Enterprises in 1967, eventually became functionally obsolete and was leveled two years ago to make way for the new development.

“This location has continued to improve in recent years as high-quality projects have been built throughout Smyrna, spurred on by the city’s investment in its downtown,” said Steve West, Halpern Enterprises’ VP of Development. “And now, the planned Braves development about two miles away will only add to the area’s quality of life for people to live, work and play.”

The housing developments at Belmont, located at the intersection of Windy Hill Road and Atlanta Road, are set to take shape over the coming year.

The neighborhood retail center is slated to have the first spaces completed in the summer of 2015. Halpern expects the spaces to be primarily occupied by local retailers and restaurants that will cater to the surrounding neighborhoods.

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REAL ESTATE

Tryperion Partners expands San Antonio portfolio with acquisition

BY Katherine Boccaccio

San Antonio, Texas – Tryperion Partners, a private real estate investment firm, has acquired Gateway Plaza, a 97% occupied, 138,510-sq.-ft. community shopping center anchored by Burlington Coat Factory that is located in San Antonio’s burgeoning metropolitan area. The acquisition, which is Tryperion’s second of a San Antonio REO property in less than a year, includes additional land for future development.

“Gateway Plaza presented a unique blend of stable cash flow and upside potential,” said Tryperion partner Joseph Kessel. “The stabilized occupancy and lease term of Burlington Coat Factory and the junior anchors enable us to focus on leasing existing vacancies and either ground leasing or selling the development pads.”

Tryperion has engaged San Antonio-based Endura Advisors to market the existing vacancies and future development sites.

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