DRA Advisors Sells The Colonnade Shopping Center in Birmingham

Birmingham, Ala. — DRA Advisors LLC has sold The Colonnade, a 127,031-square-foot shopping center located in Birmingham.

The property is shadow-anchored by The Summit, a 981,714-square-foot regional mixed-use center. Tenants at the 91 percent occupied center include Gold’s Gym, Edgar’s Old Style Bakery, Taziki’s Mediterranean Café, Scottrade, Cracker Barrel, Johnny Ray’s BBQ, Jimmy John’s, Asian Rim Sushi Company, Drapery Studio, Teach Me Beauty and Schaeffer Eye Center. Richard Reid and Jim Hamilton of HFF represented the seller in the sale of the property to a group led by Shannon Waltchack.