ATLANTA—As the economy improves in smaller towns around the Southeast, many major retailers are deciding to rejuvenate dated stores as a way to stay ahead of the competition. Atlanta-based Halpern Enterprises, which owns 33 retail properties in Georgia, South Carolina, and Florida, has seen this trend in a number of smaller metro areas. Two examples are Belk in Griffin, Ga. and Kroger in Carrollton, Ga. Both recently underwent major renovations.

These smaller towns are also attractive for redevelopment of vacant retail spaces as a way to attract new retailers. Case in point: Milledgeville, Ga. a Halpern-owned shopping center, recently attracted a Hobby Lobby by expanding and renovating a space previously occupied by Kroger.

GlobeSt.com caught up with Bill Brown, president of Halpern, to discuss about why retailers are looking beyond bigger cities to spend their renovation dollars. We also asked him why this is a move they expect to pay off. Be sure to return to the Southeast edition this afternoon for part two of this exclusive interview.