Halpern Acquires East Athens Marketplace for $3.9 Millon

Athens, Ga.
RCG Ventures has sold the 24,000-square-foot East Athens Marketplace in
Athens to Halpern Enterprises for $3.9 million. The center is fully leased to tenants including Dollar Tree, Hibbett Sports, Radio Shack, Little Caesars and AT&T.
The property is shadow anchored by a Walmart Supercenter.

“This center was appealing to us because of the high traffic of the Walmart Supercenter,” says Steve West, vice president of development for Halpern.
“The center is also in great shape, and has upside potential that we plan to take advantage of.”

Halpern plans to expand the center, as well as lease two unoccupied
outparcels that total approximately 3.4 acres.

The acquisition marks Halpern’s first acquisition in Athens and the company’s
28th center in Georgia.

Tony D’Ambrosio and Joe Montgomery of Colliers International’s Atlanta office represented the seller. Halpern Enterprises was self-represented in
the transaction.

Goodwill Plans Facility at Carrollton Crossroads

GOODWILL PLANS FACILITY AT CARROLLTON CROSSROADS
Meanwhile, Olive Garden opens and Kroger expands dramatically

CARROLLTON, Ga. (October 2, 2012) – Goodwill Industries, which is thriving in this difficult economy, is expanding to Carrollton with plans to open a 15,000-square-foot store next March at the Carrollton Crossroads retail center. The space, previously a Wal-Mart Lawn & Garden and Auto Center, is under construction to become a retail and collection center for Goodwill.

The Goodwill store opening is part of an overall expansion at Carrollton Crossroads, a 362,300-squarefoot center, which is doing well by featuring a value-oriented mix of stores and restaurants.

While some nonprofits have struggled in the current economic environment, Goodwill is experiencing local and national growth. Goodwill’s global presence includes more than 2,650 stores in the U.S. and Canada, while North Georgia has seen 20 new stores open since early 2010, bringing its total of stores in that area to 108. Goodwill’s business model does not rely on grants or fundraising; instead it relies on donations of used furniture, household items, clothing, electronics and appliances, which it sells to the public.

“Goodwill joining the Carrollton Crossroads shopping center supports our plan of having a variety of value-oriented stores for every type of consumer,” said Bill Brown, president of Atlanta-based Halpern Enterprises, which owns and operates the center.

The Carrollton Crossroads center also recently opened an Olive Garden restaurant in one of its outparcels, while the center’s Kroger grocery store is undergoing a 65,000-square-foot renovation and expansion to broaden its appeal to customers.

Carrollton Crossroads is located at the intersection of S. Park Street (Hwy 27) and Hwy 166 in Carrollton. Among its other anchor stores are Ross Dress for Less, T.J.Maxx, Hobby Lobby, and Pet Supplies Plus.

About Halpern Enterprises
Headquartered in northeast Atlanta, Halpern Enterprises owns more than 3.4 million square feet of leasable space in 33 retail properties, located in Georgia, Florida and South Carolina. With leasing, management and maintenance staff assigned to each shopping center, Halpern’s tenants receive personal attention and high value for their rental dollar. Halpern is continually growing its portfolio, both through acquisitions and new development, and all Halpern properties are well located in high traffic areas convenient to major residential developments. More information is available at www.halpern-online.com.

Deal$ opens at Norcross Plaza

Deal$, a division of Dollar Tree, joins the mix of tenants at Norcross Plaza on Buford Highway. With 15,300 square feet of new space, Deal$ will be a strong new anchor for the center offering shoppers great prices on everyday household items and more. For leasing information at this property, please contact John Brozovic at 770-508-3314.

Halpern Continues Retail Acquisition Spree in Southeast

CHARLOTTE, NC—Halpern Enterprises is continuing to execute its acquisition strategy across the Southeast. The Atlanta-based investment firm just snapped up Rock Hill Crossing, a 50,000-square-foot retail center on the west side of the Charlotte, N.C. suburb of Rock Hill, SC. Halpern paid about $8 million in an all cash deal.

With its latest retail acquisition, Halpern now owns and manages 34 retail centers in Georgia, Florida and South Carolina. Halpern made its first move to grow outside Georgia in December when it bought a retail center in St. Petersburg, Fla.

“The size of our target acquisitions is anywhere from $2 million to $20 million. Above that would require bringing in a partner,” Bill Brown, president of Halpern Enterprises, tells GlobeSt.com. “This initiative is opportunity-driven. We are looking at opportunities every day, and we have to look at a lot of deals to find the ones that will work for us. That said, we are in a strong position to take advantage of the opportunities we decide to pursue.”

Halpern Enterprises represented itself in the purchase of the property at 4875 Old York Rd. Zach Taylor and Don McMinn of Marcus & Millichap represented the seller, Bright–Meyers Rock Hill, L.P. The property, which is next to a Walmart Supercenter as a shadow anchor, is 100% occupied. The tenant line up includes Dollar Tree, GNC, Verizon, T-Mobile, Shoe Show, and Sports Clips.

Brown says Halpern is continuing to look for both top-performing and challenged retail properties, focusing on opportunities in the Southeast. The firm evaluates opportunities on a case-by-case basis, he explains, because there isn’t only one formula for success.

“We are certainly location-driven,” Brown says. “We want the right locations. That said, we are looking for the potential to add upside by improving a center’s performance. In some cases, a center may be in a great location and has a number of quality tenants, but has suffered from other challenges, such as in distressed situations with the lender or partners.”

Despite Halpern’s recent successes executing its acquisition strategy, Brown admits it is challenging to find quality assets at a reasonable price. He says his team is working to constantly expand its industry network so Halpern staff hears of these opportunities early.

“Then, we have to be ready to do a deal efficiently and fast,” Brown says. “It helps that we are a privately held company that can make decisions quickly and can do all cash deals.”

By Jennifer LeClaire
Globe Street.com

Kroger Launches 65,000-SF Expansion in Carrollton

ATLANTA—Halpern Enterprises is launching a 65,000-square-foot expansion at its Carrollton Crossroads retail center in Carrollton. Construction will begin in March a renovation and expansion to the Kroger space. Meanwhile, construction is already underway on an Olive Garden restaurant on one of Carrollton Crossroads’ outparcels.

“This is a great time for the expansion because Carrollton Crossroads is doing extremely well, shown by the customer traffic and sales volume at its stores,” Bill Brown, president of Halpern Enterprises, tells GlobeSt.com. Carrollton Crossroads recently opened a Staples location, raising the soon-to-be 362,300-square-foot center’s occupancy rate past 98%.

Brown points to a prime location and a value-oriented mix of stores as reasons for its success: “We have a number of indicators that give us confidence in this project. As one example, Staples did its own research before deciding to move into the center from a nearby location.” Among its other anchor stores are Ross Dress for Less, T.J.Maxx, Hobby Lobby, and Pet Supplies Plus.

Reflecting a trend of grocers broadening their appeal to shoppers, the 65,000-square-foot Kroger renovation and expansion will include areas selling jewelry and home goods, along with a Starbucks location. The expansion is expected to be complete by June 2013, while the new Olive Garden is slated to open in July.

“Like other submarkets around Atlanta, retail centers in places that are not well-located continue to have difficulty filling vacancies, a sign of the continuing challenges in the economy,” Brown says. “Carrollton Crossroads is definitely a standout in the Carrollton market, as are several other value retail centers. This niche has proven to be a big winner in Carollton.”

Halpern starts $15M Expansion of Carrollton Crossroads in Georgia

CARROLLTON, GA. — Atlanta-based Halpern Enterprises has
commenced a $15 million expansion at the 297,300-square-foot
Carrollton Crossroads, located at the intersection of South Park Street
and Highway 166 in Carrollton. The 65,000-square-foot renovation
and expansion of Kroger will include areas selling jewelry and home
goods, along with a Starbucks location. In addition, the company will
break ground in March on an Olive Garden on one of the center’s
outparcels. The center is 98 percent leased. Kroger is slated for
completion in June 2013, and Olive Garden is scheduled to open in
July

Halpern Enterprises Purchases The Shoppes At The Royale

BUYER: Halpern Enterprises Inc., Atlanta
SELLER: Tyrone Crossings Investors LLC
PROPERTY: 1400 and 1462 and 1500 66th St. N., St. Petersburg
PRICE: $7.55 million
PREVIOUS PRICE: $5.1 million and $4.21 million, September 2005
LAW FIRM ON DEED: Tew & Associates, New Port RicheyBUYER: Halpern Tyrone LLC, Atlanta
SELLER: Halpern Enterprises Inc.
PRICE: $755,000
PLANS, DESCRIPTION: Atlanta-based Halpern Enterprises Inc. purchased the 46,020-square-foot The Shoppes at The Royale retail center for $7.55 million.

The price equated to $164 per square foot.

The center is anchored by a separately owned 45,000-square-foot Publix grocery store. Half vacant, the center houses Jimmy John’s, Chipotle, Pei Wei, Five Guys Burgers & Fries, Massage Envy, Smoothie King, Verizon Wireless, and Rib City.

Halpern Enterprises plans to rename it The Village at Tyrone. The purchase represents Halpern Enterprises’ first retail center holdings outside of Georgia.

“[Going into Florida is] something we’ve been working on for a couple years,” says Bill Brown, president of Halpern Enterprises. “For almost 50 years we’ve been run fairly conservatively, and we’re in good financial shape. We believe now the time is right to grow not just in the state of Georgia, but along the Southeast.”

He describes the property as a young (3-year-old), well-located center in an area that’s recovering well. Brown says the company was able to work out a deal with lender Wells Fargo on the center’s price.

The property features a number of shell spaces that Halpern plans to develop.

Michael Milano and Cynthia Shelton of Colliers International Tampa Bay, Central and Southwest Florida represented the seller. The center is being leased and managed locally by Colliers, with Ben McLeish handling leasing, and Juniper Duffin and Cathy McCann in charge of management.

Halpern Enterprises owns and operates 33 retail properties with more than 3.4 million square feet of leasable space.

Amsterdam Walk welcomes Urban Body Fitness

Urban Body Fitness opened a new location at Amsterdam Walk this winter. Their new fitness studio is over 13,000 square feet with state of the art equipment and amenities. In addition to cardio equipment and free weights, the gym also offers Cybex and Hammerstrength training equipment and a variety of cardio and spin classes. For leasing information at this property, please contact Gene Kansas at 404-635-0027.

International Preschools opens at Amsterdam Walk

International Preschools opened their new Morningside Campus this fall at Amsterdam Walk. Offering low student to teacher ratios and instruction in various languages, the students learn about other cultures while interacting with teachers and classmates who, in total, speak over 14 different languages. The school brings even more variety to this unique Midtown Atlanta property. For leasing information at this property, please contact Gene Kansas at 404-635-0027.

Pinetree Plaza receives major facelift

Pinetree Plaza, home to 70 retail stores and Halpern Enterprises’ corporate headquarters in Doraville, Georgia has just undergone a complete, $3 million renovation. The center’s new look includes brick, stacked stone, EIFS accents, fabric awnings and wood shutters. Pinetree has now set a new standard for aesthetic appearance, in addition to being one of the largest and best located properties on Buford Highway. As home to the Halpern home office, it is only fitting that the center reflect the quality and value for which Halpern Enterprises has long stood. For leasing information on Pinetree Plaza, contact John Brozovic at 770-508-3314.