REBusinessOnline

Cushman & Wakefield Arranges $26.5M Sale of Multifamily Community in Prattville, Alabama

PRATTVILLE, ALA. — Cushman & Wakefield has arranged the $26.5 million sale of Prattville at Highland Lakes, a 224-unit multifamily community in Prattville. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a fitness center, spa, pool, sundeck, tennis court and a playground. The community is situated at 1908 Briarwood St., 10 miles northwest of downtown Montgomery. Craig Hey and Jimmy Adams of Cushman & Wakefield represented the seller, Blue Magma …

SRS Arranges $10.3M Sale of Walmart-Occupied Property in Tuscaloosa

TUSCALOOSA, ALA. — SRS Real Estate Partners has arranged the $10.3 million sale of a Walmart Neighborhood Market-occupied building in Tuscaloosa. The 41,921-square-foot building is located at 4201 Hargrove Road E., seven miles east of downtown Tuscaloosa. Built in 2015, the property is situated on 7.2 acres and includes a gas station with 12 fuel pumps. Dan Elliot and Sean Lutz of SRS represented the seller, an Illinois-based private investor, in the transaction. The buyer was a Miami-based …

Aldi to Develop 564,000 SF Distribution Center in Loxley, Alabama

LOXLEY, ALA. — Aldi will develop a regional office and distribution center in Loxley. The facility will serve Aldi grocery stores in southern Alabama, the Florida Panhandle and Louisiana. Details of the building were not disclosed, but multiple media outlets report the property will span 564,000 square feet upon completion. Aldi operates 180 stores in Florida and Alabama. The German-based grocer plans to break ground on the distribution center in 2021. The exact location of the facility was …

Orchestra Partners Breaks Ground on Mixed-Use Project in Downtown Birmingham

BIRMINGHAM, ALA. — Orchestra Partners has broken ground on Mercantile on Morris, a mixed-use project in downtown Birmingham. Located at 2212 Morris Ave., the property will feature 47 residential units and 14,000 square feet of commercial space, as well as a pedestrian thoroughfare with storefronts connecting First Avenue North and Morris Avenue. Birmingham-based Retail Specialists is handling the commercial leasing effort, which includes spaces ranging from 500 to 1,800 square feet. There is …

Marcus & Millichap Negotiates $5.4M Sale of Retail Center in Sylacauga, Alabama

SYLACAUGA, ALA. — Marcus & Millichap has negotiated the $5.4 million sale of Payton Park, a 53,400-square-foot retail center in Sylacauga. Walmart shadow anchors the property, which was leased to tenants such as Burke’s Outlet, CATO, Shoe Show and Sally Beauty at the time of sale. Payton Park is located at 41301 U.S. Highway 280, 45 miles southeast of downtown Birmingham. MBD Properties, an Atlanta-based private investor, acquired the asset. The seller, Chattanooga, Tenn.-based Rise …

NitNeil Partners to Construct 100,000 SF Self-Storage Facility in Huntsville

HUNTSVILLE, ALA. — NitNeil Partners will develop a four-story, 100,000-square-foot self-storage facility in Huntsville. The Atlanta-based developer acquired 2.1 acres at 2312 Memorial Parkway SW for the project, which is two miles southwest of downtown Huntsville. NitNeil expects to break ground in August and anticipates opening the property in summer 2021. The development will also feature a one-acre outparcel along Memorial Parkway for a future restaurant or retail

ApexOne Investments Acquires 135-Unit Multifamily Property in Metro Birmingham

HOMEWOOD, ALA. — ApexOne Investments has acquired The Moretti at Vulcan Park, a 135-unit multifamily community in Homewood. The property offers one-, two- and three-bedroom floor plans. Communal amenities include a pool, car wash area, clubhouse, fitness center and a conference room. The asset is located at 101 Moretti Circle, three miles south of downtown Birmingham. Stephen West, Matt Wallach and Will Baker of Walker & Dunlop originated a Freddie Mac acquisition loan on behalf of the …

SiO2 to Invest $163M to Expand Auburn Plant to Provide Vials for Potential COVID-19 Vaccine

AUBURN, ALA. — SiO2 Materials Science will invest $163 million to expand its Auburn plant that will produce vials and syringes to aid a potential COVID-19 vaccine. Construction is underway on the 70,000-square-foot project, which is located at 2425 Innovation Drive, less than one mile from SiO2’s current plant located at 2250 Riley St and seven miles southwest of Auburn University. SiO2 expects to create 220 jobs when the expansion is complete. In June, SiO2 announced a $143 million …

Kalikow Group, EYC to Develop $67M Residential Community in Huntsville

HUNTSVILLE, ALA. — Kalikow Group and EYC Cos. will develop Anthem, a $67 million, 406-unit apartment community spanning 40 acres in Huntsville. The developers expect to begin leasing in second-quarter 2021 with construction slated to be complete in early 2022. The developers secured a $42 million syndication loan from IberiaBank and Trustmark Bank. The property will comprise three-story walk-up buildings, one- and two-story single-family homes and duplexes. The single-family homes and …

Middleburg Communities Breaks Ground on 290-Unit Multifamily Community in Huntsville

HUNTSVILLE, ALA. — Middleburg Communities has broken ground on Mosby Bridge Street, a planned 290-unit multifamily community in Huntsville. The community is situated within a designated Opportunity Zone in Cummings Research Park. Middleburg expects to complete the property in April 2022 with preleasing beginning in May 2021. Once complete, the community will offer one-, two- and three-bedroom floor plans across four four-story buildings. Unit interiors will feature stainless steel Energy Star …

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