Alabama Archives - REBusinessOnline

JLL Negotiates $32.5M Sale of Power Retail Center in Birmingham

John Nelson — Fri, 30 Oct 2026 14:56:48 +0000

BIRMINGHAM, ALA. — JLL has negotiated the $32.5 million sale of the second phase of Village at Lee Branch, a power retail center located at 1201 Doug Baker Blvd. in Birmingham. Brad Buchanan, Jim Hamilton and Anton Serafini of JLL represented the seller, Atlanta-based Cygnus Capital, in the transaction. The buyer was Richmond-based Hackney Real Estate Partners. Situated in Birmingham’s Meadowbrook submarket along U.S. Highway 280, Village at Lee Branch was 83 percent leased at the time of sale to tenants including Onelife Fitness, Hobby Lobby and Dollar Tree. The property sits adjacent to the first phase of Village at Lee Branch, which is anchored by Publix.

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Adler Real Estate Partners Receives $212.8M Refinancing for Sun Belt Industrial Portfolio

Hayden Spiess — Thu, 29 Oct 2026 11:31:00 +0000

MIAMI — Adler Real Estate Partners has received a $212.8 million loan for the refinancing of an eight-property industrial portfolio spanning several states in the Southeast and Texas. Together, the properties total 43 buildings and roughly 1.6 million square feet in Alabama, Florida, Maryland, North Carolina and Texas, located in markets including Austin, Dallas-Fort Worth, South Florida, Charlotte, Birmingham and the Baltimore-Washington corridor. The collection includes multi-tenant business parks and light industrial assets. At the time of financing, the properties were leased to more than 115 tenants within 22 industries, including the medical and pharmaceutical, building services, manufacturing, technology, professional services, healthcare and logistics industries. The average tenant tenure across the portfolio is 10.5 years. Melissa Rose, Michael DiCosimo, Jack Britton, Kate Rathman, Nicole Diaz and Magnus Kron of JLL Capital Markets secured the financing on behalf of the borrower. An undisclosed life insurance company provided the loan. Based in Miami, Adler Real Estate Partners specializes in acquiring and operating multi-tenant light industrial properties throughout the United States. This transaction marks the second major recapitalization for the company this year. In July, Adler secured a $343 million refinancing for a portfolio of light industrial assets, including $140 million in equity and…

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Marcus & Millichap Negotiates Sale of New Wawa-Leased Gas Station, Store in Loxley, Alabama

John Nelson — Tue, 20 Oct 2026 12:27:00 +0000

LOXLEY, ALA. — Marcus & Millichap’s Taylor McMinn Retail Group has negotiated the sale of a newly constructed gas station and convenience store in Loxley, an eastern suburb of Mobile, Ala. Wawa occupies the retail property on a 20-year lease that features 7 percent rental increases starting in year 11 of the initial term and extension options. An investor purchased the property for an undisclosed price in a 1031 exchange all-cash from an Alabama-based development firm. Both parties requested anonymity. Don McMinn and Andrew Koriwchak of Taylor McMinn Retail Group brokered the transaction. “This marks our third Wawa closing in Alabama,” says McMinn. “As the third brokerage team engaged to market the property, we drew on our platform’s reach and extensive investor network to bring the transaction to a successful close at 97 percent of list price despite challenging market conditions.”

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JCCG Delivers 225-Unit Build-to-Rent Community in Opelika, Alabama

Abby Cox — Fri, 16 Oct 2026 14:41:41 +0000

OPELIKA, ALA. — Jim Chapman Construction Group (JCCG), on behalf of an undisclosed REIT, has delivered Creekside Cottages, a 225-unit build-to-rent (BTR) development located at the intersection of Society Hill Road and Gateway Drive in Opelika, about eight miles east of Auburn, Ala. A ribbon-cutting ceremony is scheduled for Wednesday, Oct. 28. The project first broke ground in September 2025. Built by JCCG, Creekside Cottages features two- and three-bedroom homes with attached one- or two-car garages and main-level primary suites ranging in size from 1,000 to 1,439 square feet. Amenities include a clubhouse, swimming pool, sidewalks, streetlights, a dog park and onsite property management and maintenance teams. Monthly rental rates begin at $1,875. Capstone Communities is the property manager for Creekside Cottages.

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JLL Arranges $53M Refinancing for Apartment Community in Huntsville

John Nelson — Tue, 06 Oct 2026 15:29:55 +0000

HUNTSVILLE, ALA. — JLL has arranged a $53 million refinancing loan for Bobo Development Group’s Arcadia Huntsville. The 250-unit property at 4810 Bradford Drive in Huntsville’s Cumming Research Park was completed in 2024. Newport Beach, Calif.-based Revitate is a limited partner in the project. Arcadia features studios, one- and two-bedroom floor plans, 18,000 square feet of retail and such amenities as a heated saltwater pool, clubhouse with demonstration kitchen, fitness center, coworking space, dog park, electric vehicle charging stations and outdoor grilling stations and lounge areas with gas fire pits. Gregg Shapiro, Anthony Sansone, Kelsey Bawcombe, Connor McCarthy and Jada Cooper headed up JLL’s team for the refinancing.

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Federal Realty Acquires The Summit Shopping Center in Birmingham for $508M

Abby Cox — Fri, 02 Oct 2026 11:26:00 +0000

BIRMINGHAM, ALA. — Maryland-based Federal Realty Investment Trust (NYSE: FRT) has acquired The Summit, an 870,000-square-foot, open-air shopping center in Birmingham, for $508 million. Purchased from the original developer, locally based Bayer Properties, the 100-acre property is the most visited retail destination in Alabama, drawing nearly 9 million annual visits, according to Federal Realty. As reported by the Birmingham Business Journal, Bayer sold its property management and leasing portfolio to Dallas-based Centennial in 2022, though the company’s original underlying real estate assets were not part of that sale. The acquisition is expected to be funded on a long-term basis with a combination of net sale proceeds, free cash flow and funds from Federal Realty’s recently issued convertible notes. Situated at the intersection of I-459 and U.S. Highway 280, The Summit opened in 1997 with initial retailers like Barnes & Noble and Parisian (which later transitioned into a flagship store for Belk), expanding in phases through 2009. The Summit now features more than 110 tenants, including Apple, Trader Joe’s, RH, Nordstrom Rack, Alo Yoga, Sephora and North Italia, with over 30 tenants operating their only Alabama location at the center. At the time of sale, The Summit was 92 percent occupied. In…

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PRP Purchases Hyundai Mobis-Leased Distribution Center in Montgomery for $66.5M, Plans Expansion

John Nelson — Tue, 22 Sep 2026 14:14:16 +0000

MONTGOMERY, ALA. — PRP Real Assets has acquired a newly built distribution center in Montgomery for $66.5 million. Delivered in September 2025, the 459,680-square-foot property is leased to Hyundai for 14 years and guaranteed by Hyundai Mobis, a supplier that is using the facility as its flagship redistribution center for Hyundai, Kia and Genesis aftermarket service parts. The facility services more than 2,000 car dealerships nationwide and is fully integrated within a larger, 1.6 million-square-foot Hyundai campus. The property is situated on a 60-acre site and features 36-foot clear heights, 36 dock-high doors and ESFR fire protection. In addition to the acquisition, PRP Real Assets has agreed to provide $30 million in incremental funding to expand the facility by more than 240,000 square feet. Graham & Co.’s industrial brokerage team handled site acquisition, leasing and disposition of the facility. The firm’s property management division oversees ongoing operations at the property, and Graham Capital, its Birmingham-based real estate investment affiliate, served as equity partner and sourced financing for the project’s development.

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Trilogy Obtains Construction Loan for 172-Unit Build-to-Rent Project in Huntsville

John Nelson — Thu, 17 Sep 2026 13:29:07 +0000

HUNTSVILLE, ALA. — Trilogy Investment Co. has closed on a construction loan for REV3 at The Celeste, a 172-unit build-to-rent (BTR) townhome community underway in Huntsville. The loan amount was not released. Situated on Plummer Road on the north side of Huntsville, the property represents Trilogy’s second BTR opportunity zone fund development with Pinnacle Partners. REV3 at The Celeste will feature three-bedroom townhomes with attached garages, as well as a resort-style pool, clubhouse, fitness center and outdoor gathering spaces. Trilogy and construction affiliate REV3 Homes plan to deliver the first residences at the project in early 2027.

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Pattillo Breaks Ground on 262,880 SF Industrial Facility in Huntsville

Abby Cox — Fri, 11 Sep 2026 13:14:27 +0000

HUNTSVILLE, ALA. — Pattillo Industrial Real Estate has broken ground on Greenbrier Commerce Center, a new 262,880-square-foot industrial development in Huntsville. The Atlanta-based development firm plans to deliver the facility in August 2027. Tripp Alexander, Joe Azar and Miller Conaway of Colliers will lead leasing and marketing efforts for the development. Situated near the Port of Huntsville, Greenbrier Commerce Center will be able to accommodate single or multiple users, with spaces ranging in size from 50,000 to 262,880 square feet. Upon completion, the facility will feature 32-foot clear heights, 46 dock-high doors, two drive-in doors, 156 car parking spaces and 65 off-dock trailer spaces, along with ESFR fire protection, clerestory windows and concrete tilt-panel construction. The development will also provide an adjacent build-to-suit site of up to 254,200 square feet. Planned to be pad-ready in 2027 as part of the initial development, the site will offer users the flexibility to accommodate future expansion or pursue a facility tailored to their specific operational requirements.

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JLL Arranges Sale of 10.5 MSF Southeast Industrial Portfolio for EQT Real Estate

John Nelson — Tue, 01 Sep 2026 14:22:51 +0000

CHICAGO — JLL has arranged the sale of a 10.5 million-square-foot industrial portfolio in the Southeast. EQT Real Estate is selling the 46-building portfolio to an affiliate of California-based LBA Realty for an undisclosed price. John Huguenard, Trent Agnew, Will McCormack and Tara Hagerty of JLL represented the seller in the transaction. Additionally, Kevin MacKenzie, Peter Thompson, Steven Klein and Chris Pratt of JLL arranged an undisclosed amount of acquisition financing through two national banks for the buyer. The sold portfolio features properties in 10 separate markets, including Charlotte and Greensboro, N.C.; Greenville-Spartanburg, S.C.; Atlanta and Savannah, Ga.; Tampa, Orlando and Jacksonville, Fla.; and Birmingham and Huntsville, Ala. The logistics facilities in the portfolio average 230,000 square feet in size, according to JLL.

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JLL Income Property Trust Acquires Shopping Center in Tuscaloosa, Alabama for $94M

Abby Cox — Fri, 28 Aug 2026 11:07:00 +0000

TUSCALOOSA, ALA. — Chicago-based JLL Income Property Trust has acquired Midtown Village, a 345,000-square-foot shopping center located near the University of Alabama campus in Tuscaloosa, for $94 million. The seller requested anonymity. Built in 2007, Midtown Village consists of eight single-story buildings across a 30-acre site. The open-air center features a mix of retailers such as Barnes & Noble, Ulta Beauty, Old Navy, Best Buy, lululemon, American Eagle & Aerie, Fab’rik, Kay Jewelers, South Boutique, Loft, Tuscaloosa Nail & Spa and GameStop. Restaurants include Panera Bread, Blaze Pizza, Metro Diner and Tropical Smoothie Café. The tenant roster has a weighted average lease-term (WALT) of more than 16 years. “The enduring demand of this strong tenant roster supports stable operating performance, and the center is well-positioned in a thriving submarket with proven traffic,” says Allan Swaringen, president and CEO of JLL Income Property Trust. Midtown Village is situated on the southwest corner of McFarland Boulevard East and 15th Street and is one of the most visited retail shopping centers in the state, with over 5.7 million annual visits, according to JLL Income Property Trust. It is also located within one mile from DCH Regional Medical Center, Tuscaloosa’s largest regional hospital. With the…

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IHG Opens 112-Room Hotel Indigo at $2.2B MidCity District in Huntsville

John Nelson — Thu, 20 Aug 2026 13:32:05 +0000

HUNTSVILLE, ALA. — IHG Hotels & Resorts has opened a new 112-room Hotel Indigo within MidCity District, a $2.2 billion mixed-use district in Huntsville by RCP Cos. Located at 940 Nunnuhsae Park Drive NW, the hotel features a lobby restaurant and bar called The Indie, a fitness center and 1,100 square feet of meeting and event space. The property is the only Hotel Indigo in Huntsville and the fourth in Alabama. Other elements of MidCity District include the Orion Amphitheater, Trader Joe’s, REI, Topgolf, Holiday Inn, multiple apartment communities and several chef-driven restaurants.

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Prudent Growth Purchases Retail Strip Center in Montgomery for $3.7M

John Nelson — Wed, 19 Aug 2026 13:38:51 +0000

MONTGOMERY, ALA. — Chapel Hill, N.C.-based Prudent Growth Partners LLC has purchased Somerset Shoppes, a 27,250-square-foot strip retail center located at 7730 Atlanta Highway in Montgomery. The seller was not disclosed. Built in 2003, Somerset Shoppes was 85 percent leased at the time of sale to nine tenants, including Martha’s Place, Latitudes Salon & Spa, Body Serene Nails & Spa, J&T Acupressure and Southern Muscle & Fitness.

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Thompson Thrift to Develop 300-Unit Apartment Community in Chelsea, Alabama

John Nelson — Tue, 18 Aug 2026 14:53:28 +0000

CHELSEA, ALA. — Thompson Thrift plans to develop Rivet, a 300-unit apartment community in Chelsea, a suburb of Birmingham in Shelby County. The Indianapolis-based developer is capitalizing the project with equity from Thompson Thrift 2025 Multifamily Development LP. Situated on nearly 29 acres along the U.S. Highway 280 corridor, Rivet will offer a mix of one-, two- and three-bedroom apartments. Amenities will include a resort-style heated swimming pool, 24-hour fitness center, pickleball court, community grilling areas and fire pit, social hub with billiards and shuffleboard, dog park and pet spa, business center with conference rooms and an Amazon package hub. Thompson Thrift plans to deliver Rivet in late 2027.

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Morrison Avenue Completes 128-Bed Student Housing Development Near Auburn University

John Nelson — Wed, 12 Aug 2026 13:27:19 +0000

AUBURN, ALA. — Morrison Avenue Capital Partners has completed Hilltop Auburn, a 128-bed student housing property located near the Auburn University campus in Alabama. The community offers four- and five-bedroom townhomes with bed-to-bath parity and attached garages. The development team for the project included Lauderdale Architecture + Development and Reed Construction. 360 Property Management operates Hilltop Auburn on behalf of Morrison Avenue.

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Dobbins Group Delivers 475-Unit Apartment Community in Birmingham

John Nelson — Thu, 30 Jul 2026 13:20:31 +0000

BIRMINGHAM, ALA. — Dobbins Group has delivered Colina Hillside, a 475-unit apartment community located at 1121 Colina St. in Birmingham. Capstone Building Corp. served as the general contractor for the project, which comprises one-, two- and three-bedroom apartments across multiple four- and five-story buildings. Monthly rental rates range from $1,390 to $3,050, according to Apartments.com. Amenities at Colina Hillside include two saltwater pools with private cabanas, a fitness center, pet spa, dog parks, clubhouse with coworking areas, firepit and outdoor entertainment venues, EV charging stations, garages, storage space and a market for residents.

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IPA Brokers $23.1M Sale of Publix-Anchored Shopping Center in Alexander City, Alabama

John Nelson — Tue, 28 Jul 2026 14:28:35 +0000

ALEXANDER CITY, ALA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $23.1 million sale of The Gateway at Lake Martin, a grocery-anchored shopping center in east-central Alabama. Built in 2024, the 93,352-square-foot center is situated on a 22-acre site at the intersection of U.S Highway 280 and Ala. Highway 63 in Alexander City. The Gateway at Lake Martin’s tenant roster includes Publix, Marshalls, Starbucks, Rack Room Shoes and Five Below, as well as four outparcels that were not part of the transaction. Zach Taylor of IPA’s Atlanta office, along with Robby Pfeiffer and Eric Abbott of Marcus & Millichap, represented the seller, a repeat developer of Publix-anchored shopping centers, in the transaction. Eddie Greenhalgh served as Marcus & Millichap’s broker of record in Alabama. Anita Paryani and David Fierroz of IPA Capital Markets arranged an undisclosed amount of acquisition financing for the buyer, an entity doing business as Calhoun Shores LLC, which purchased the center along with a grocery store in Naples, Fla., leased to Sprouts Farmers Market. David Weinberg, Jacob Keith, Greenhalgh and Ryan Nee of Marcus & Millichap procured the buyer along with Scott Sutphin of Jet Properties.

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JLL Arranges Sale of 45,904 SF Outpatient Medical Facility in Florence, Alabama

John Nelson — Thu, 23 Jul 2026 13:43:51 +0000

FLORENCE, ALA. — JLL has arranged the sale of Singing River Cancer Center, a 45,904-square-foot outpatient medical facility located at 180 Cox Creek Parkway S in Florence, a city in North Alabama’s Tennessee Valley region. Purpose-built on a 6.6-acre site in 2020, Singing River is a single-story cancer center operated by OneOncology affiliates. Evan Kovac, Andrew Milne, John Chun, Matt DiCesare and Timothy Joyce of JLL’s Medical Properties Group represented the seller, Cypress West Partners, in the transaction. The buyer, a joint venture between Remedy Medical Properties and Kayne Anderson Real Estate, purchased Singing River for an undisclosed price.

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FrostPoint Capital Acquires 22,069 SF Metro Birmingham Retail Center for $5.6M

Abby Cox — Tue, 30 Jun 2026 13:57:40 +0000

HOOVER, ALA. — FrostPoint Capital has acquired Lake Crest Plaza, a 22,069-square-foot retail center located in Hoover, roughly 10 miles south of Birmingham, for $5.6 million. The seller requested anonymity. The property, which was fully leased at the time of sale, features a mix of 13 tenants including Whiskey Foxtrot Burger Dive, Oak & Ale and Cajun Cleaver. Crawford Square Real Estate Advisors will manage and lease the center, along with FrostPoint Capital.

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SLIB Arranges Sale of 54-Unit Seniors Housing Community in Tuscaloosa

John Nelson — Thu, 18 Jun 2026 13:58:37 +0000

TUSCALOOSA, ALA. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community located in Tuscaloosa. Built in 1994 and 2003, the property comprises 54 units. Dan Geraghty, Jeff Binder and Brad Clousing of SLIB represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

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