ST. PETERSBURG, FL – (April 10, 2013) – The Sembler Company continues to experience leasing growth across all market divisions and has exceeded the company’s projections for the first quarter.
The Sembler Company completed almost 100,000 square feet in leasing transactions in the first quarter of this year. The breakdown is as follows:
New Leases – 25,266 SF
Renewals – 47,080 SF
New Leases – 11,959 SF
Renewals – 8,449 SF
New Leases – 1,296 SF
Renewals – 4,860 SF
The Atlanta division of Sembler is seeing differentiated growth. “The trend we are seeing in the urban markets, such as Town Brookhaven, is strong and there is a sustained interest from unique retailers, particularly boutiques and restaurants,” explains Jim Ackerman, Sembler’s Vice President of Leasing for the Atlanta division. “In suburban markets, such as Deerfield Place, the nature of users is different – more service oriented and medical/dental related. And while urban rents are in the thirties, suburban rents are ranging in the high teens to low twenties,” Ackerman continues.
The Sembler Company is celebrating over 50 years of creating retail real estate value. Sembler provides a full array of retail real estate services, including development and redevelopment, property and asset management, leasing and other related services throughout the Southeastern United States and Puerto Rico. Sembler has developed over 325 projects totaling 27 million square feet and currently leases and manages over 12.5 million square feet. For more information, please visit www.sembler.com.