REAL ESTATE

SRS hires senior VP in Phoenix office

BY Michael Fickes

Dallas — SRS Real Estate Partners welcomes Jon Cowen as senior VP in the Phoenix office. Cowen bring 24 years of experience in commercial real estate to SRS, where he will focus on representing local and national retailers, shopping center leasing and development and investment sales.

Previously, Cowen worked with the Retail Advisory Group at Cushman & Wakefield after Cushman acquired his own real estate firm, Cowen Commercial.

Cowen has worked with many high profile clients such as Kimco Realty, Vestar Development Co., Sears Great Indoors, Skechers, Bank of America, CVS/Pharmacy, McDonald’s, Starbucks, and Staples.

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REAL ESTATE

Divaris renews Big Lots lease for 26,537 sq. ft.

BY Michael Fickes

Richmond, Va. — Divaris Real Estate has announced the renewal of a 26,537-sq.-ft. Big Lots lease in the Midlothian Crossing Shopping Center in Richmond, Va.

DRE manages and leases the center for landlord Midlothian Associates. Other tenants include Goodwill, Family Dollar and Red Wing Shoes.

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REAL ESTATE

Cypress Equities acquires Minnesota retail center

BY Michael Fickes

Dallas — Cypress Equities has acquired Eden Prairie Center in Eden Prairie, Minn., an upscale suburb of Minneapolis. The transaction was carried out by a fund managed by Cypress’ real estate investment management group. Eden Prairie Center is a 1.1-million-sq.-ft., two-level, enclosed shopping center. The mall features more than 100 shops and restaurants. Annual shopper visits exceed 12 million.

Von Maur, Target, Kohl’s, Sears and J.C. Penney anchor the mall. The entertainment wing features an 18-screen AMC Theatres, Barnes & Noble Booksellers, Wildfire Steaks, Chops & Seafood, Biaggi’s Ristorante Italiano, Panera Bread and Prairie Tap House.

Eden Prairie ranked third on Money Magazine’s “Best Places to Live” in 2012 and was first on the list in 2010. The average household income within three miles of Eden Prairie Center is substantially higher than that of the Minneapolis metro average and the United States average.

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