Shopping Center Business

MAY 2017

Shopping Center Business is the leading monthly business magazine for the retail real estate industry.

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Page 188 of 334

ECHO REALTY 184 • SHOPPING CENTER BUSINESS • May 2017 continue our acquisitions program has been invaluable to us. We have developed a reputation for being very transparent and fair to deal with." The Shops at Siesta Row performs well today. Located on Route 41 in a strong trade area of Sarasota, the center has a very productive Publix anchor that is supported by a strong mix of local and regional tenants. "We saw the potential in this center and knew we would have to work with the seller to get through the issues because the property was that good," says Howard Biel, senior vice president of acquisitions and development. In 2015, ECHO acquired a portfo- lio from Pacolet-Milliken Enterprises, a Greenville, South Carolina-based real es- tate company which had sponsored the de- velopment of a number of retail centers in the Carolinas, Georgia, Virginia and Flor- ida. Retail was not the company's main focus and it placed eight properties on the market — six shopping centers and two freestanding grocery stores. Five of the centers were anchored by Harris Teeter and three of the centers were anchored by Publix. ECHO worked with Pacolet-Mil- liken over a period of time and was able to acquire the portfolio. In less than two years since acquiring ownership, ECHO has been able to perform some significant changes to many of the centers that add value. At a Harris Teeter-anchored prop- erty in Wilmington, North Carolina, for example, ECHO acquired land frontage adjacent to the center and is working on entitling the property currently. "At each of the properties we acquire, Gateway at Hilliard is a 120,536-square-foot center ECHO owns in Hilliard, Ohio. The center is anchored by Giant Eagle. Frontier Village Center is Prescott's most centrally located shopping destination. Join, Home Depot, Target, At Home, Sportman's Warehouse, Ross, Petco, Picture Show Entertainment, Office Max, and a host of other popular national and local businesses. Leasing information contact Bill Tucker 928-515-7231 Visit us at ICSC RECON in Las Vegas May 21-24 in Booth N2467 Frontier Village Center Prescott, Arizona Owned and Operated by the Yavapai-Prescott Indian Tribe Located on E. State Route Highway 69 and N. State Route Highway 89

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