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Matthews Brokers $20.1 Million Sale of Napa Auto Parts Portfolio

by Hayden Spiess

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.

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AlabamaGrocery-anchoredInvestment salesNews

SRS Arranges Sale of 57,850-Square-Foot Five Points Shopping Center in Tuscaloosa, Alabama

by Hayden Spiess

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.

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AlabamaFinanceNews

Northmarq Secures $14 Million Loan for Madison Plaza Shopping Center in Huntsville, Alabama

by Hayden Spiess

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.

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AlabamaFinanceNews

Northmarq Arranges Acquisition Financing for 388,700-Square-Foot Shopping Center in Montgomery, Alabama

by Hayden Spiess

Montgomery, Ala. — Northmarq has arranged financing for the acquisition of Shoppes at EastChase, a 388,700-square-foot shopping center located in Montgomery. Chad Owens of Northmarq’s Houston debt/equity team secured the loan through an undisclosed national bank on behalf of the borrower, an entity doing business as 5Rivers CRE. The loan carries a 10-year term with 4 years of interest only and a 40-year amortization schedule. Dillard’s, Target, Kohl’s and H&M anchor the property. Other tenants include Aldi, Ross Dress for Less, PetSmart, Ashley’s, DSW, Versona, Lululemon, Starbucks Coffee, Victoria’s Secret …

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Matthews Arranges $16.1 Million Portfolio Sale of Eight Stores Leased to Family Dollar-Dollar Tree

by Hayden Spiess

Nashville, Tenn. — Nashville-based Matthews Real Estate Investment Services has arranged the $16.1 million portfolio sale of eight stores leased to the combo Family Dollar-Dollar Tree discount retail concept. The stores are located in Blountsville and Clayton, Alabama; Pauls Valley, Warner and Maud, Oklahoma; Edison, Georgia; Lincoln, Arkansas; and Coldiron, Kentucky. Josh Bishop of Matthews represented the seller, an unnamed developer that built the stores. The undisclosed institutional buyer purchased the properties at a cap rate of 6.4 percent.

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AlabamaFinanceGrocery-anchoredNews

Northmarq Arranges $22.5 Million Refinancing of Shopping Center in Huntsville, Alabama

by Hayden Spiess

Huntsville, Ala. — Northmarq has arranged the $22.5 million refinancing of Village on Whitesburg, a 118,356-square-foot shopping center located in Huntsville. Randy Wolfe of Northmarq’s Atlanta office secured the permanent, fixed-rate financing on behalf of the undisclosed borrower through a commercial bank. The loan features a seven-year term and 25-year amortization schedule. The Fresh Market anchors the property, which is home to tenants including AT&T, Bonefish Grill, Drake’s, Nadeau, Panera Bread and Learning Express.

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AlabamaGrocery-anchoredInvestment salesNews

FNRP Acquires 304,935-Square-Foot Shopping Center in Cullman, Alabama

by Hayden Spiess

Cullman, Ala. — First National Realty Partners (FNRP) has purchased Cullman Shopping Center, a 304,935-square-foot retail center located in Cullman, roughly 50 miles north of Birmingham. A 45,600-square-foot Publix anchors the property, which features other tenants including Belk, Dick’s Sporting Goods, Ross Dress for Less, Ulta Beauty, Five Below and PetSmart. Kyle Stonis of SRS represented the undisclosed seller in the transaction.

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AlabamaGrocery-anchoredInvestment salesNews

Legacy Realty Brokers $7.4 Million Sale of Hillcrest Marketplace Shopping Center in Mobile

by Hayden Spiess

Mobile, Ala. — Legacy Realty Group Advisors has brokered the $7.4 million sale of Hillcrest Marketplace, a 76,000-square-foot shopping center located at 6300 Grelot Road in Mobile. Anchored by grocer Winn-Dixie, the property was 95 percent leased at the time of sale. Jacob Baruch and Max Yardeni of Legacy Realty represented both the buyer and seller in the transaction.

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AlabamaInvestment salesNews

Newmark Facilitates $24 Million Sale of Cox Creek Shopping Center in Florence, Alabama

by Hayden Spiess

Florence, Ala. — Newmark has arranged the sale of Cox Creek Shopping Center in Florence. Mark Joines and Drew Fleming of Newmark represented the seller, U.S. Properties Group. The 142,044-square-foot property was fully leased at the time of sale to tenants including Dick’s Sporting Goods, Field & Stream, Petco, Old Navy, Five Below and Ulta Beauty. United Properties Corp. acquired the center, which is situated directly across from the 675,000-square-foot Florence Mall, for $24 million.

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AlabamaFinanceInvestment salesNews

Eastern Union Secures $7 Million Acquisition Financing for Shopping Center in Birmingham, Alabama

by Hayden Spiess

Birmingham, Ala. — Eastern Union has secured $7 million in financing for the $9.4 million purchase of Crestwood Festival Centre in Birmingham. Marc Tropp of Eastern Union arranged the financing on behalf of the buyer, CityWide Properties, which intends to invest $1.5 million in capital improvements at the 299,707-square-foot shopping center. The property is shadow anchored by The Home Depot.

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