Huntsville, Ala. — Tanger has acquired Bridge Street Town Centre, an open-air retail center located in Huntsville, for $193.5 million. Tenants at the property, which totals 825,000 square feet, include lululemon, Sephora, Lovesac, Dry Goods, Victoria’s Secret, Athleta, Anthropologie, Altar’d State, Ulta Beauty, Barnes & Noble, Dick’s Sporting Goods, Old Navy, H&M and Belk. The center was 93 percent occupied at the time of sale. This marks Tanger’s 39th property and first open-air center.
Mobile, Ala. — Topgolf has opened a new venue in Mobile, Alabama, marking the third in the state for the brand. Situated within McGowan Park Shopping Center, the venue features 60 outdoor, climate-controlled hitting bays across two levels, as well as a full-service restaurant, 22-foot video wall and more than 100 TVs. According to the company, Topgolf Mobile will employ roughly 200 associates and is the 95th outdoor Topgolf venue in the country.
Huntsville, Ala. — Legacy Realty Group Advisors has brokered the sale of an 18,300-square-foot retail center located in Huntsville. IGA anchors the property. Daniel Baruch and Max Yardeni of Legacy represented both the buyer and seller in the transaction.
Theodore, Ala. — Dorsey Development, an entity owned and operated by G. Paul Dorsey III, has purchased Island Road Shopping Center in Theodore. Winn-Dixie anchors the property, which totals 59,822 square feet. Other tenants at the center include Pizza Hut, Subway, Buddy’s Home Furnishings and Premier Nails.
Birmingham, Ala. — JLL has arranged the sale of 280 Station, a 24,760-square-foot shopping center located in Birmingham. Tenants at the property, which was 91 percent leased at the time of sale, include Dunkin’ Donuts, Oasis Nails & Spa, Eyemart Express, Subway, Bedzzz Express, Isbell’s Jewelry, Budget Car Rental, Tint World, State Farm Insurance and Tao Massage. Jim Hamilton, Brad Buchanan and Anton Serafini of JLL represented the seller and procured the buyer, Crow Holdings Capital.
San Diego — High Bluff Capital Partners will assume ownership of a portfolio comprising 81 Hardee’s locations following an auction. Located in Alabama, Florida, Georgia, Kansas, Missouri, Montana, South Carolina and Wyoming, the restaurants were previously owned by franchisee Summit Restaurant Group, which filed for Chapter 11 bankruptcy in May of this year. The transaction is expected to close in August. Dave Dixon will oversee operation of the restaurants. “High Bluff is the ideal partner to support our efforts…while making critical investments in restaurant remodels and other initiatives to boost traffic …
Huntsville, Ala. — Albanese Cormier has acquired Valley Bend at Jones Farm, a 430,792-square-foot shopping center located in Huntsville. Tenants at the property include HomeGoods, Dick’s Sporting Goods, Hobby Lobby, Marshalls and PetSmart. A separately owned SuperTarget and 10 outparcels are also located at the center, which spans 57.8 acres and attracts 6 million annual visitors.
Los Angeles — Matthews Real Estate Investment Services has brokered the $20.1 million sale of a portfolio comprising 12 single-tenant retail properties. Located in Alabama, California, Florida, Georgia, Illinois, Mississippi, New York, North Carolina, Texas, Virginia and Washington, the properties are all occupied by Napa Auto Parts on a net-lease basis. Brandon Perez and Bill Pedersen of Matthews arranged the sale on behalf of the undisclosed limited liability company. A publicly traded REIT purchased the portfolio.
Tuscaloosa, Ala. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Five Points Shopping Center, a 57,850-square-foot retail center located in Tuscaloosa. Winn-Dixie anchors the property. Other tenants include Dollar Tree, AT&T, State Farm Insurance and H&R Block. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, an entity doing business as H&R Tuscaloosa LLC, in the transaction. The buyer, an entity doing business as Five Points SC LLC, purchased the property for an undisclosed price.
Huntsville, Ala. —Northmarq has secured a $14 million loan for Madison Plaza, a 153,739-square-foot shopping center located in Huntsville. Randy Wolfe of Northmarq arranged the 10-year financing through a regional credit union on behalf of RCP Cos. The loan features one year of interest-only payments and a 25-year amortization schedule. Built in 1984 and renovated in 2016, Madison Plaza is leased to tenants including Havertys, Stars and Strikes, State Farm, Dragon Alley and Viet Huong.
