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.

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.