Montgomery, Ala. — Red Bank, New Jersey-based First National Realty Partners has acquired Country Club Centre, a 67,622-square-foot retail center located in Montgomery. The center — which was 85 percent leased at the time of sale — is anchored by Winn-Dixie, which totals 35,922 square feet. Additional tenants at the property include Dollar Tree, Martin’s Restaurant, Subway and Wingstop. Gary Chou of Berkley Capital Advisors represented the undisclosed seller in the transaction.
Alabama
Dothan, Ala. — SRS Real Estate Partners has brokered the $7.7 million ground lease sale of a retail property located in Dothan. Built in 2004 and situated on 10.4 acres, The Home Depot occupies a 128,517-square-foot retail store on the site, which is adjacent to Northside Mall. Patrick Luther and Matthew Mousavi of SRS represented the seller, a Texas-based partnership, in the transaction. The buyer was a private investment firm based on the East Coast.
Irondale, Ala. — CBRE has secured a $15 million loan to refinance Cahaba Crossing, a 67,874-square-foot shopping center located in the Birmingham suburb of Irondale. Construction of the property was completed in 2023. A 48,837-square-foot Publix supermarket anchors the property. The 9.8-acre property, which is fully leased, comprises 10 tenants including The UPS Store, Starbucks Coffee and Heartland Dental. Additionally, there is a 1.45-acre outparcel reserved for future development. Carmel, Indiana-based 40|86 Advisors provided the five-year fixed-rate, interest-only loan. Richard Henry, Mike Ryan, Brian Linnihan and JP Cordiero of CBRE …
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.