Reporter- Denver Business Journal
Don Edrington, who has run the SRS Real Estate Partners
office in Denver for 10 years, is heading to Hong Kong. Dallas-based SRS plans to open its first international office there and Edrington has been picked to run it.
“The growth in Asia, according to our clients and other retailers, is going to be tremendous over the next 10 to 20 years,” said Chris Maguire, CEO and chairman. “This move has been driven by our clients’ need.”
Some of those clients, including grocers, mass merchandisers, fashion and luxury brands, are looking to make a bigger presence in Asia, Maguire said.
“Hong Kong was a very logical choice for our first international office due to its strong economic growth, proximity to mainland China, high consumer confidence, dynamic retail market and middle class population on the rise,” he said in a statement.
The Hong Kong market has seen retail sales grow 17 percent year over year, according to SRS.
Edrington said his decision to go was twofold: “The business opportunity itself is tremendous. I really can help expand business for our company, internationally and here in the states. I’ll be pushing business back to our offices in the U.S. as well. It’s also a life adventure.”
“U.S. retailers have struggled in different ways to enter Asia,” he said. “First is finding a good site. But once that’s found, they haven’t had sales experience over there. We think we’ll be able to do that with our partnerships. We’ll bring American knowledge how retailers work and inter-wind that with knowledge of Chinese culture and help them do a better job over there.”
When Edrington started in Denver, he said it was “me in a cubical by myself in the corner.” His expertise is in “strategic, multi-market expansion planning and implementation,” according to SRS.
Dennis Huspeni covers real estate and retail for the Denver Business Journal and writes for the “Real Deals” blog.
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