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Birmingham, Ala. — JLL has negotiated the $32.5 million sale of the second phase of Village at Lee Branch, a power center located at 1201 Doug Baker Blvd. in Birmingham. Brad Buchanan, Jim Hamilton and Anton Serafini of JLL represented the seller, Atlanta-based Cygnus Capital, in the transaction. The buyer was Richmond, Virginia-based Hackney Real Estate Partners. Phase II of the project totals 223,300 square feet.
Situated in Birmingham’s Meadowbrook submarket along U.S. Highway 280, Village at Lee Branch II was 83 percent leased at the time of sale to tenants including Onelife Fitness, Hobby Lobby and Dollar Tree. The property sits adjacent to the first phase of Village at Lee Branch, which is anchored by Publix.