Elexis Properties Grows Portfolio with Development of East Atlanta Retail and Office Center

Oct. 16, 2007 - PRLog -- ATLANTA - Elexis Properties, Inc. today announced the purchase and renovation of The Village at Flat Shoals, a 6,900 square foot retail and office center that is located approximately one mile southeast of the East Atlanta Village shopping district.  The company is in the process of signing tenants for the center.

The property, which used to house several churches, a barbershop, and a bait shop, underwent an extensive renovation.   The company replaced or updated all electrical and mechanical systems, repaved the large parking area, and added some cosmetic touches.  The center now has a total of 8 units ranging in size from 600 to 1,900 square feet; some units can be combined for a maximum contiguous space of 2,400 square feet.  The surrounding community is experiencing tremendous growth as reflected in the 75% increase in traffic count from 2005 to 2006.

“The Village at Flat Shoals provides a great opportunity for retail and office-type businesses to reach a rapidly developing and underserved community,” said Charles E. Williams, president of Elexis Properties.  “The surrounding area is being transformed as more and more people move into this established intown neighborhood to avoid the long suburban commutes and to enjoy the amenities of city living.  The Village at Flat Shoals is positioned to serve as a community gathering place in this fast transitioning area of town.”

Market research data indicate that households in the 30316 ZIP code spent 43% of their food dollars on “food consumed outside the home” in 2006.  

Mr. Williams continued, “We expect our tenants to flourish given the discretionary income that the surrounding population has to spend.  In particular, we would like to find a restaurant and/or a coffee shop to serve as the destination businesses that will draw customers to the center.”

The Village at Flat Shoals is located at 1580 Flat Shoals Avenue SE in Atlanta, Georgia.  Elexis Properties will complete the renovation of the property in October 2007, and it expects the center to be fully occupied by fall 2008.

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About Elexis Properties

Elexis Properties, Inc. is a real estate investment firm that develops, redevelops, and manages commercial and residential properties in the metropolitan Atlanta area.  Since 1992, the company has redeveloped six commercial retail properties and over 150 homes, built and sold 72 new single-family houses, and developed and sold over 125 infill lots in the Atlanta area.  For more information, visit http://www.elexisproperties.com or call (404) 755-6602.

Website: www.elexisproperties.com