Battleground Village Upgrades Near Completion
Branch Properties Add Value to Greensboro, NC Shopping Center
ATLANTA – Branch Properties, an Atlanta-based private real estate investment firm, announces notable progress on its Battleground Village project in Greensboro, NC. Branch Properties purchased the 74,701-square-foot center in early 2014 and, as a value-add property owner, has been working diligently to reposition the center. To date, the real estate firm has significantly increased occupancy, partnered with national retailers to develop prototype stores, and is near completion on an exterior renovation.
Today, Battleground Village boasts a 97 percent occupancy rate, which is an impressive increase over the 84 percent rate the company inherited at the time of purchase. Anchored by Earth Fare and Starbucks, Battleground Village is home to service-oriented tenants like Sola Salon Studios and the U.S. Post Office, along with quick-serve restaurants Jersey Mike’s and Hungry Howies Pizza. Currently, one 1500 SF space is available for lease.
Branch Properties is working with Starbucks to redevelop its current space. The brand new prototype store is scheduled to open in May 2017 and will offer drive-through service, which will be a great addition for the community. “The former Starbucks location was very dated and without a drive-through. This new location is unique to the greater Greensboro area as well as to the Southeast. There are only one or two of these prototype stores in the region and the drive-through will serve as a great advantage to Starbucks customers in the area,” said Brett Horowitz, Asset Manager of Branch Properties.
One of the property’s earliest tenants, Earth Fare, is undergoing a complete renovation of its 27,887 SF space. The organic food supermarket is upgrading its interior and exterior, and will debut a new open and modern prototype this Summer.
In addition to updating and upgrading the tenant mix, Branch Properties is leading a center-wide, multi-million dollar renovation that will be completed by Fall 2017. The center will have an updated modern appearance that includes new storefront facades, upgraded landscaping and updated common areas.
The shopping center is located in central Greensboro on Battleground Avenue, which serves as the primary retail corridor connecting downtown Greensboro with the neighborhoods to the northwest.
About Branch Properties, LLC – Founded in 1973 and based in Atlanta, Branch Properties, LLC, is a private real estate investment firm whose primary focus is high-quality, grocery-anchored shopping centers located in Georgia, Alabama, Florida, Tennessee, North Carolina and South Carolina. As a vertically integrated real estate operating company, Branch has the in-house expertise to source, negotiate, acquire, develop, re-develop, finance, lease and manage its investments. Over the past four decades, Branch has acquired, developed and managed over $2.5 billion of commercial real estate, accounting for more than 12 million square feet of leasable space.