Alabama

AlabamaLeasingNewsRetailers

GBT Realty Signs HomeGoods, Shoe Station at Tuscaloosa Shopping Center

by Alex Tostado

Tuscaloosa, Ala. — GBT Realty has signed HomeGoods and Shoe Station to lease space at McFarland Plaza, a 234,000-square-foot retail power center located in Tuscaloosa, Alabama, one mile south of the University of Alabama. HomeGoods will backfill a former Toys ‘R’ Us store spanning 23,000 square feet, and Shoe Station will lease 11,900 square feet. The center was 97 percent leased at the time of sale to tenants such as Ross Dress for Less, T.J. Maxx, Stein Mart, Cato Fashions, Michaels and Pet Supplies Plus. GBT Realty’s leasing team is …

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AlabamaInvestment salesNewsRetailers

Marcus & Millichap Negotiates $7.8 Million Sale of Retail Center in Eastern Alabama

by Alex Tostado

Gadsden, Ala. — Marcus & Millichap has arranged the $7.8 million sale of Riverview Plaza, a 148,860-square-foot shopping center in Gadsden, Alabama. Bargain Hunt, Harbor Freight Tools, Tuesday Morning and Dollar Tree anchor the center. Zach Taylor of Marcus & Millichap’s Taylor McMinn Retail Group represented the seller, EIG Riverview Plaza LLC, in the transaction. Louise Jennings of Real Estate Southeast represented the buyer, MR Stealth LLC, which is a private investor.

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AlabamaInvestment salesNewsRetailers

Big V Property Group Acquires Shopping Center in Huntsville for $35.9 Million

by Alex Tostado

Huntsville, Ala. — Big V Property Group has acquired Westside Centre, a 655,638-square-foot shopping center in Huntsville, Alabama, for $35.9 million. The property was 74 percent leased at the time of the sale to tenants including Big Lots, Stein Mart, Tuesday Morning, PetSmart, Ross Dress for Less, Shoe Carnival and Party City. Super Target shadow anchors the center. Westside Centre is situated at 6275 University Drive NW, adjacent to the 4,000-acre Cummings Research Park and six miles west of downtown Huntsville. The seller was not disclosed.

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AlabamaCompany newsNews

Bayer Promotes Wadkins, Lassiter to Co-Presidents

by Alex Tostado

Birmingham, Ala. — Bayer Properties promoted Jami Wadkins and Libby Lassiter to co-presidents of the Birmingham, Alabama-based development company. The promotions complete a leadership transition that began two years ago. Jeffrey Bayer and David Silverstein have formally stepped down from their respective operating roles at the firm but retain an ownership position in the company and its real estate assets. Wadkins will continue her role as chief financial officer and Lassiter will continue her role as executive vice president of retail leasing and development. Wadkins and Lassiter will oversee operational …

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AlabamaFinanceNewsRetailers

Revere Capital Provides $25 Million Loan for Refinancing of Shopping Center in Alabama

by Alex Tostado

Birmingham, Ala. — Revere Capital has provided a $25 million refinancing loan for Brookwood Village, a 411,441-square-foot shopping center in Birmingham. The asset sits on 22 acres, about six miles south of downtown Birmingham. Tenants include Target, Verizon Wireless, DSW, Macy’s and The Fresh Market. The borrower was not disclosed, but the property is listed under management by CAPREF Manager, a subsidiary of Dallas-based Cypress Equities.

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