Burton Property Group announces new partnership

Mobile-based Burton Property Group (BPG) recently announced the recapitalization of its firm with a new institutional partnership with North Carolina-based SilverCap Partners. The move is anticipated to strengthen the firm and broaden its real estate portfolio, per a news release.

“The partnership with SilverCap marks a new chapter for our company,” BPG President and CEO Philip Burton said. “It not only increases our ability to tackle major real estate projects, but also represents a secure path forward for the company and its investors.”

SilverCap’s additional funding brings BPG’s total investment dollars to more than $125 million, which will be used to take on new projects such as the $23 million expansion of BPG’s Foley Square Shopping Center in Foley.

In addition to BPG’s current list of projects, there is also an estimated $100 million in planned development, which BPG forecasts to be executed within the next two to three years.

BPG, founded in 2012, is a private regional commercial real estate investment, development and management firm. The company can trace its capitalization back over a century to the Mobile-based Smith’s Bakery and its sale, which successfully financed more family-owned real estate investments such as the Silver Sands Retail Outlet in Destin, Florida.

From an initial investment outlay of $15 million, BPG has grown to manage a portfolio of $200 million in retail development covering the Southeast. The portfolio includes Springhill Village, Crestview Corners, Schillinger Town Center, Westwood Plaza, BB&T Financial Plaza, Jubilee Square, Foley Square and McKenzie Village. 

SilverCap Partners is a real estate private equity firm based in Charlotte, North Carolina, focuses on investments in the southeastern U.S. The firm’s expertise crosses multiple property sectors with a predominant focus on office, retail, industrial and residential investments.

Mobile real-estate investment firm anticipates growth

A Mobile-based real estate investment company, Burton Property Group, has announced a partnership with a private equity firm that will give it millions of dollars in additional money for development projects in the region.

According to information released Tuesday by Burton Property Group BPG), the “transition reflects a new institutional partnership with North Carolina-based SilverCap Partners, which will strengthen the firm and broaden its direction.” It increases Burton’s available investment dollars to more than $125 million, “which will be used to take on new projects, including a $23 million expansion of BPG’s Foley Square Shopping Center.”

Burton foresees about $100 million in planned development in the next two to three years in addition to its current projects, according to Tuesday’s statement.

Burton was founded in 2012 but “can trace its capitalization back over a century to the Mobile-based Smith’s Bakery and its sale,” which financed investments in developments such as the Silver Sands Retail Outlet in Destin. BPG says it now manages a $200 million portfolio of properties.

Mobile Area Chamber of Commerce: Business Headlines Mobile

Business Headlines Mobile-based Burton Property Group (BPG) announced the recapitalization of its private regional commercial real estate investment company, reflecting a strategic investment made by North Carolina-based SilverCap Partners. “The partnership with SilverCap marks a new chapter for our company,” says Philip Burton, BPG’s president and CEO. “It not only increases our ability to tackle major real estate projects, but also represents a secure path forward for the company and its investors.”

New retail stores, Publix coming to Foley next spring


 

FOLEY, Ala. (WKRG) – Even more shopping options are coming to South Baldwin County in 2019.

The official groundbreaking ceremony for the ‘Riviera Square’ was Thursday morning off Highway 59.

The 18-acre property, owned by ‘Burton Property Group,’ will soon be home to several retail stores and a Publix.

Although the ceremony was held Thursday, ground was officially broken the first week of May and construction is underway. It will be home to a Marshalls, Tuesday Morning, Five Below, HomeGoods and a Publix.

The property group also owns the complex next door, which has a Petsmart and a Ross.

Company officials say it’ll be a good addition to the city’s retail market which is in need of a grocery store. “Actually this is what’s considered a food desert. So there’s a badly needed grocer in this part of the market. So we’re filling the need and Publix decided they wanted to have a store here so we’re happy to accommodate,” Philip Gillette Burton tells News 5.

The retail stores are set to open next spring, with the Publix opening shortly after in the summer.

Rouses to Open New Supermarket

Grocery shoppers in west Mobile are about to get another option: A new Rouses Market will occupy the former Gander Mountain site near the intersection of Airport Boulevard and Schillinger Road.

CEO Donny Rouse, third-generation leader of the family-owned, Louisiana-based grocery chain, said potential patrons won’t have to wait long. “We should be open in the next six to seven months,” he said.

Rouse said the expansion shows that Lower Alabama has been fertile ground for his company, which has been doing business in the area for less than five years. “We like Mobile,” he said. “We have a lot of great customers.”

Rouses entered the market in a big way in 2013, taking ownership of former Belle Foods stores in the region after that chain filed for bankruptcy. By early 2014, Rouse’s had remodeled and reopened five locations: One in Mobile’s Spring Hill district as well as stores in Theodore, Saraland, Spanish Fort and Gulf Shores. At the time, Rouse said the company was investing about $2 million in each remodeling.

Business is good for Rouses, which was founded in 1960. Aside from Mobile, it has new stores coming in Baton Rouge and Lake Charles, La. It currently has 54 stores open. The west Mobile location will be its 56th, following one that’ll open in November in Baton Rouge.

The company also sealed a deal earlier this year that makes it the official grocer of the New Orleans Saints. Rouse said for his company, it’s not a business-as-usual sponsorship contract.

“It’s a huge deal for a company this size,” he said, adding that it’s a source of pride for employees. “It makes sense. We’re from the Gulf Coast. Everyone on the Gulf Coast is a Saints fan.”

As for the new Mobile store, Rouses said it’ll occupy about 50,000 square feet, making it comparable to the other Rouses Markets in the area. But it’ll also include at least one new feature: A classroom where customers and chefs can engage, swapping recipes and learning about culinary approaches such as wine pairings.

“We can do some exciting things,” Rouse said.

Rouse said discussions had been under way on the Gander Mountain site for about four months. It puts Rouses near one of the most heavily traveled intersections in west Mobile, serving an area with tens of thousands of residents.

“We feel it’s one of the best locations in Mobile,” Rouse said. “It’s definitely in need of a grocery.”

Mobile Chamber of Commerce-the Business View

Company official: Philip G. urton, president/CEO Years in business: 5 Brief company description: Burton Property Group (BPG) is a full-service real estate development, investment and management firm. Its focus is the acquisition, leasing, development and management of real estate assets. BPG’s goal is to enhance the value of retail spaces by attracting strong national tenants and building well-balanced portfolios. Local properties include Jubilee Square in Daphne; BB&T Centre, Westwood Plaza Shopping Center and Schillinger Town Center in Mobile; and McKenzie Village and Foley Square in Foley. Why are you located in Mobile? “Family,” said Burton. “The genesis of our company can be traced back to 1900 and five generations.” Why do you support the Mobile Area Chamber of Commerce’s Partners for Growth initiative? “We are bullish on Mobile, and south Alabama as a whole,” said Burton. “Our view is that the Mobile Area Chamber is the best tool available to our community to recruit and retain business in Mobile, which in turn helps our business. As the pie grows, hopefully, our piece grows with it. Our investment in Partners for Growth is our way of supporting that mission.” What do you see as Mobile’s greatest potential? “That’s a tough question, as we are rich in so many different areas but, generally speaking, I view our local economy as being well-balanced with tremendous potential in all sectors,” Burton said.

Archives

8/27/2015
 Petco to open in Daphne’s Jubilee Square
8/26/2015
 Burton Property Group announces Phase II for Foley Square – Ross Dress for Less
1/11/2015
 New tenants continue to open at Westwood Plaza
10/12/2014
 Bed Bath & Beyond to open in Jubilee Square
9/30/2014
 Foley Hobby Lobby to open on Oct. 13 in McKenzie Village
9/3/2014
 Work begins on $15 million Foley Square, anchored by Academy Sports
8/25/2014
 Should developers consider adding elaborate lighting display similar to the RSA Tower?
7/1/2014
 Foley to welcome McKenzie Village anchor Hobby Lobby in mid-October
5/5/2014
 Foley attracts another hard-hitting retailer in Academy Sports
5/5/2014
 Mobile lands 50,000-square-foot outdoor retailer; grand opening slated for fall 2014
4/22/2014
 Hobby Lobby to offer up to 50 jobs at new location in Foley
2/28/2014
 Retail businesses coming to Foley
2/27/2014
 Mobile Chamber Business View – BPG Announces Foley purchase
2/25/2014
 Hobby Lobby-anchored McKenzie Village
1/7/2014
 Fox 10: Hobby Lobby heads to Foley
1/7/2014
 Gander Mountain coming to Pensacola
11/21/2013
 Westwood Plaza redevelopment to nearly double shopping center’s size, attract new retailers to Mobile 
10/4/2013
 Pinebrook progress: Mobile shopping center’s renovations on track for partial holiday debut
5/9/2013
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5/8/2013
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5/8/2013
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5/8/2013
 Whole Foods Market to open in 2015, spearhead Pinebrook shopping center facelift
3/4/2013
 Burton Property Group Buys Alabama’s Jubilee Square for $37M
3/4/2013
 BPG buys Alabama’s Jubilee Square
2/8/2013
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2/1/2013
 Burton Property Groupbuys Jubilee Square in Daphne, AL for $37,000
12/19/2012
 Burton Property Group sells Walmart Supercenter for $17 million
9/23/2012
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7/7/2012
 Smith’s Bakery descendants see windfall in Florida outlet mall deal
6/14/2012
 MCS Investments sells stake in Florida-based Silver Sands Outlet Mall
6/8/2012
 BB&T Centre purchased by Burton Property Group
6/8/2012
 Silver Sands shifting
6/8/2012
 BB&T Commercial Office Building Sells
6/8/2012
 Southeast News
6/8/2012
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6/7/2012
 Burton Property Group purchases BB&T Centre
6/5/2012
 Simon Property Group buys half interest in Silver Sands
Simon Property Group Inc (SPG:New York)