Alabama

Montgomery, Ala. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a single-tenant retail property in Montgomery. Instant oil change provider Valvoline occupies the building on a 15-year, triple-net ground lease that features 10 percent rent increases in the initial term. Don McMinn and Andrew Koriwchak of the Taylor McMinn Retail Group represented the seller, a preferred developer for Valvoline, in the transaction. “This transaction demonstrates the demand for investment-grade credit tenants on long-term leases with attractive rent increases,” says McMinn. “We represented the seller, and …

Owens Cross Roads, Ala. — Franklin Street has brokered the sale of Hampton Cove Shops, a 41,681-square-foot retail center located in Owens Cross Roads, approximately 15 miles southeast of Huntsville. Bryan Belk and John Tennant of Franklin Street represented the seller, Fairway Investments, in the transaction. Prudent Growth Partners purchased the property for $7.6 million. Built in 2008, Hampton Cove Shops was 96 percent leased at the time of sale to tenants including Dollar Tree, H&R Block, sports bar Jefferson’s, We Rock the Spectrum Kid’s Gym and ALFA Insurance.

Pell City, Ala. — Atlanta-based The Aly Group has acquired Coosa Commons, a 9,824-square-foot retail center located in Pell City, approximately 30 miles west of Birmingham. Tenants at the property include Starbucks Coffee, Jersey Mike’s, Wingstop and The St. Clair. Jacob Fahner of Hanley Investment and Scott Reid of ParaSell Inc. represented the seller in the transaction.

Huntsville, Ala. — JLL Income Property Trust has acquired Westbury Square, a 115,000-square-foot shopping center located in Huntsville, for $32 million. Tenants at the center, which was fully leased at the time of sale, include T.J. Maxx, Michaels, Stein Mart, Metro Diner, Chicken Salad Chick, Captain D’s, BB&T, Moe’s Southwest Grill, Jenny Craig, Jimmy John’s and Cricket Wireless. Cushman & Wakefield brokered the transaction on behalf of the undisclosed seller.

Auburn, Ala. — Matthews Real Estate Investment Services has arranged the sale of Flint’s Crossing, a 97,668-square-foot neighborhood center situated three miles from Auburn University. HomeGoods and Michaels anchor the fully leased center. Other tenants include Panera Bread, The UPS Store, Subway, Cici’s Pizza, Plato’s Closet, Kumon and uBreakiFix. In addition to the 22,850-square-foot HomeGoods store, which operates at the property on a new 10-year lease, Flint’s Crossing has introduced roughly 15,115 square feet of new tenants since 2022. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the …