Madison, Ala. — Fairway Investments has sold Heritage Square, a 60,767-square-foot retail center located in Madison. Halpern Enterprises acquired the property, which is anchored by T.J. Maxx, for an undisclosed price. Built in 2008, the center was fully leased at the time of sale. Franklin Street represented Fairway Investments in the transaction.
Birmingham, Ala. — Gulf Coast Commercial has acquired River Ridge, a shopping center located in Birmingham, for $27 million. Nuveen Real Estate, which purchased the property in 2007, was the seller. Tenants at the center, which was 75 percent leased at the time of sale, include Academy Sports + Outdoors, Marshalls, World Market and Dollar Tree. Jim Hamilton and Brad Buchanan of JLL Capital Markets represented the seller in the transaction.
Montgomery, Ala. — Matthews Real Estate Investment Services has brokered the sale of Promenade North Shopping Center, a 57,441-square-foot retail center located in Montgomery. Tenants at the property, which was 97.3 percent leased at the time of sale, include Harbor Freight Tools, AutoZone and ArchWell Health. Pierce Mayson and Kyle Stonis of Matthews represented the seller, an affiliate of Hackney Real Estate Partners, in the transaction.
Vestavia Hills, Ala. — KPR Centers has secured a $42.5 million loan for the refinancing of Vestavia Hills City Center, a 389,736-square-foot retail center located in Vestavia Hills, roughly 10 miles outside Birmingham. An affiliate of MetLife Investment Management provided the floating-rate financing. Chris Drew, Gregg Shapiro and Kelsey Bawcombe of JLL arranged the loan on behalf of KPR Centers. Publix anchors the property, and other tenants at the center include AMC Theaters, Planet Fitness, Pet Supermarket, Shoe Station, Dollar Tree, Panera Bread and Dave’s Hot Chicken.
Jacksonville, Ala. — Marcus & Millichap has negotiated the sale of Jacksonville Crossing, a 56,401-square-foot retail center in Jacksonville, a city in northeast Alabama. The property was 67 percent leased at the time of sale to tenants including Dollar Tree, Baja California Grill, Cricket Wireless and Five Below, which recently signed a new 10-year lease at the center. Philip Levy and Zach Taylor of Marcus & Millichap represented the seller and secured the buyer. Eddie Greenhalgh served as Marcus & Millichap’s broker of record in Alabama for the transaction.
Spanish Fort, Ala. — JLL has arranged the $33.2 million sale of Eastern Shore Centre, a 432,158-square-foot shopping center located in Spanish Fort, a suburb of Mobile. Jim Hamilton, Brad Buchanan and Andrew Nichols of JLL represented the seller, Allied Development, in the transaction. Chip Sykes, Hunter Goldberg, Hamp Gibbs and Mikey Minihan, also of JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, Wicker Park Capital Management. Dillard’s anchors the property. Other tenants at the center include Belk, Shoe Station, Barnes & Noble, Stock & Trade, …
Birmingham, Ala. — Cove Capital Investments has acquired Eastwood Village, a 130,056-square-foot retail center located in Birmingham. Tenants at the property, which was 96 percent occupied at the time of sale, include Ross Dress for Less, Five Below, Office Depot, Michaels, Party City and Starbucks Coffee. The acquisition marks the newest addition to Cove Capital’s DST portfolio, which includes 89 properties totaling 2.1 million square feet throughout the country.
Rogersville, Ala. — Legacy Realty Group Advisors has arranged the sale of a single-tenant property located in Rogersville. Foodland occupies the building, which features 24,000 square feet, on a net-lease basis. Jacob Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
Florence, Ala. — Legacy Realty Group Advisors has brokered the $8.4 million sale of Florence Plaza, a retail center located in Florence. Ollie’s Bargain Outlet, Crunch Fitness, AutoZone and Badcock Furniture anchor the property, which totals 150,000 square feet. Jacob Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
Birmingham, Ala. —Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $17.6 million sale of Eastwood Village, a 130,056-square-foot shopping center in Birmingham. A Walmart, not included the transaction, anchors the center. Tenants at the property include Ross Dress for Less, Office Depot, Michaels and Party City. Zach Taylor of IPA represented the seller, a partnership based in Louisiana, in the transaction and sourced the buyer, a private syndicator based in California that paid all-cash.
