October 21, 2019
By Dennis Kaiser
SRS Real Estate Partners expanded its national footprint to Greater Los Angeles. The new office in Santa Monica, which houses SRS’ Signature Group, is led by SVP and Managing Principal Mike Rielly, who joined SRS in late 2018 to launch this newly-formed group nationally. Connect Media asked Rielly to share what is behind the growth of the Dallas-based firm, as well as SRS Signature. Check out his responses below in our latest 3 CRE Q&A.
Q: Why a new office in L.A.?
A: This new office is now the headquarters for our Signature Group, which caters to aspirational and high-end brands targeting coast-to-coast growth in high-street, “A” mall, lifestyle, premium outlet and design/arts district environments. It will also house SRS’ growing capital markets teams, national net lease group, debt and equity team, and provide an LA extension for SRS’ tenant rep and project leasing teams. It was a natural progression for the firm when you consider L.A. is the second largest city in North America, as well as a renowned hotbed of retail brands and a focus of active commercial development.
Q: What market trends do you see?
A: The rise of digitally native brands is pervasive. However, we also see retailers and restaurant operators from Asia moving into Southern California. Entertainment and flagship box concepts from around the world are coming to the fore. Well-curated food halls in various incarnations are also evolving and increasing in number.
Q: What’s on the horizon for retail?
A: Retail is exciting and the brands and tenants keep reinventing themselves to meet the wants and needs of new generations. We’ve seen nothing but explosive growth and increasing transactional activity at SRS, which I think reflects how strong retail is today. Looking ahead, uses such as digitally native companies, global brands from Asia and entertainment flagships will keep filling the pipeline of available, top-tier GLA out there. Health and fitness is another category with depth of competition and innovation taking street and mall space opportunities.
For comments, questions or concerns, please contact Dennis Kaiser