Starting in 2014, S2 Capital Partners, LLC, an affiliate of Stewart Commercial Realty Services, LLC, has acquired four shopping centers with a value of approximately $31 million and the goal of significantly increasing value through repositioning, redevelopment and releasing of each property. Our acquisition focus is on $10-$15 million grocery-anchored/shadow anchored retail centers in secondary markets throughout the Mid-Atlantic region. These acquisitions include:
Rockingham Square offers over 55,000 square feet of retail and restaurant space. Rockingham is home to six tenants including national tenants Food Lion, Cricket Wireless, and Springleaf Financial. Harrisonburg is also home to James Madison University (JMU) which has a total enrollment of over 21,000 students.
Located in the growing Brevard community, Forest Gate Shopping Center is home to over 62,000 square feet of retail and restaurant options including national tenants Bi-Lo, Subway, H&R Block, State Farm and Enterprise. The shopping center is also shadow-anchored by Walmart and Belk. The center is adjacent to the Pisgah National Forest, which boasts over four million visitors annually.
Bryans Road is a grocery-anchored neighborhood shopping center strategically located on Indian Head Highway in growing Charles County, Maryland. Bryans Road offers a variety of retailers including national tenants Safeway, Dollar General, Subway and Pizza Hut. Currently, the center is undergoing a renovation and upgrade to the facade, parking lot, and landscaping. This renovation is expected to be completed Fall, 2017.
Stonebridge Shopping Center is S2 Capital Partner’s latest acquisition. The center is a multi-use redevelopment of the former Cloverleaf Mall in Chesterfield County, Virginia, and was named the Best Private/Public Project by Virginia Business. This multi-phase, master planned community is anchored by Kroger Market Place and home to over fifteen tenants including Mattress Firm, Sweet Frog, Qdoba, Bank of America, and Subway. Phase II of Stonebridge is proposed to include residential, retail shops, and restaurants.