Alabama Archives - REBusinessOnline

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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Travel + Leisure Breaks Ground on $150M Sports Illustrated Resort Near University of Alabama

Abby Cox — Mon, 01 Jun 2026 14:06:59 +0000

TUSCALOOSA, ALA. — Travel + Leisure Co., a vacation ownership and membership travel company, has broken ground on the $150 million Sports Illustrated Resort near the University of Alabama in Tuscaloosa. Slated to open in 2028, the planned mixed-use resort will feature a six-story tower with 75 hotel-managed condominiums and a six-story tower with 86 vacation ownership units, which will be connected by a central lobby. Owners and guests will have access to a lounge with stadium-style seating for watch parties, as well as a fitness center and pool deck amenities. The development will include retail and public-facing gathering spaces, including indoor/outdoor bars, a game lounge and a coffee bar. Plans also include a broadcast booth and rooftop terrace event space. Upon completion, the development will become the first ground-up collegiate Sports Illustrated Resort in the country, and will join previously announced projects in Baton Rouge, Nashville and Chicago. Travel + Leisure Co. operates, develops and manages the Sports Illustrated Resorts brand and its vacation club under a license from Authentic Brands Group, the owner of the Sports Illustrated name.

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Northmarq Arranges $19.5M Sale of Distribution Facility in Auburn

John Nelson — Thu, 21 May 2026 13:15:13 +0000

AUBURN, ALA. — Northmarq has arranged the $19.5 million sale of a 160,000-square-foot distribution facility located at 2250 Riley St. within Auburn Technology Park West in Auburn. Robert Poirier led Northmarq’s Atlanta team that represented the seller, SiO2, which previously owned and occupied the facility. The buyer was INFAC. Built in 2012 and situated on approximately 40 acres near I-85, the property features distribution space and approximately 28,000 square feet of “pharmaceutical-grade” clean room space. The fully air-conditioned building also offers 29- to 31-foot clear heights, eight dock doors with dock levelers, one oversized drive-in door, 2,000-amp electrical switchgear and 48 parking spaces.

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Halpern Acquires 74,224 SF Shopping Center in Athens, Alabama

John Nelson — Wed, 13 May 2026 12:03:00 +0000

ATHENS, ALA. — Atlanta-based Halpern Enterprises has acquired Athens Marketplace, a 74,224-square-foot shopping center located at 1061 Kelli Drive in Athens, a western suburb of Huntsville. Drew Fleming and Mark Joines of Newmark represented the privately held seller in the transaction. The sales price was also not disclosed. Built in 2024, Athens Marketplace was fully leased at the time of sale to T.J. Maxx, Ross Dress for Less, Ulta Beauty, Five Below, Rack Room Shoes, America’s Best Contacts & Eyeglasses, High Cotton Nail Bar and Therapy South.

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Newmark Negotiates $64M Sale of Apartment Community in Huntsville

John Nelson — Wed, 06 May 2026 14:23:39 +0000

HUNTSVILLE, ALA. — Newmark has negotiated the $64 million sale of The Liam at Hays Farm, a 329-unit apartment property located within the 850-acre Hays Farm master-planned community in south Huntsville. Greystone purchased the property from a joint venture between Bomasada Group and an affiliate of The Wolff Co. Justin Uffinger and Sarah Nee of Newmark represented the seller in the transaction. Built in 2024, The Liam at Hays Farm features one-, two- and three-bedroom apartments, as well as a resort-style swimming pool, Zen courtyard with a fireside lounge and a modern fitness center. The sale is the largest multifamily deal in the Huntsville market since 2023, according to Newmark.

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