MERCHANTS RETAIL PARTNERS LANDS NEW ANCHOR FOR AUBURN REDEVELOPMENT
BIRMINGHAM, AL – July 8, 2017 – Merchants Retail Partners (MRP), a Birmingham, Alabama based real estate investment firm, on behalf of its related investment partner, recently executed a new anchor lease with Michaels Arts & Crafts to launch its redevelopment of Flints Crossing in Auburn, Alabama. Anchor construction started July 5th with Birmingham-based general contracting firm, Stewart & Perry.
Flints Crossing will receive a completely updated look with new facades and architectural enhancements. The overall architectural scheme was designed by Bimingham-based, Goodwin, Mills, & Cawood, LLP.
Michaels joins organic-grocer Earthfare in MRP’s redevelopment of this 80,000 SF neighborhood center. The Michaels box spans 18,000 SF and will open early 2018, alongside an updated, Panerra Bread and other, new restaurant offerings for the Auburn market.
“Like many other University-towns, Auburn continues its significant transformation. We are excited to bring a new, updated and re-merchandized offering to Auburn’s most highly-trafficked corner, “ said Bill Leitner, Managing Principal at Merchants Retail Partners LLC.
This is MRP’s third development in Auburn, where it owns approximately 1,000,000 SF of commercial space. Flints Crossing spans 80,000 SF and is located at the corner of Opelika Road and University Drive. The center is currently 95% occupied with existing tenants spanning medical, restaurant, and grocery-uses.
About Merchants Retail Partners
Merchants Retail Partners (MRP) is a full-service development and acquisition investment platform owned by management and Protective Life Insurance Corporation, a national insurance provider that has a $70.5 billion balance sheet. MRP’s vertically integrated platform develops green-field projects and acquires underperforming assets with near-term growth potential. The MRP management team has more than 100 years of collective retail experience and has acquired and/or developed over 20 million square feet of retail assets worth approximately $4 billion in the Southeast and Mid-Atlantic states.