REBusinessOnline

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 …

Marcus & Millichap Negotiates $3.4M Sale of New Store Leased to Aldi in Phenix City, Alabama

PHENIX CITY, ALA. — Marcus & Millichap has negotiated the $3.4 million sale of a 21,000-square-foot, Aldi-occupied property in Phenix City. The seller, Halpern Enterprises Inc., delivered the asset earlier this year. The store is located at 3670 Marketplace Drive, six miles northwest of downtown Columbus, Ga. Aldi is occupying the space on a 20-year triple-net lease. Don McMinn of Marcus & Millichap’s Taylor McMinn Group represented the seller in the transaction. Martina Crevecoeur …

Novare Group, BCDC to Develop 286-Unit Multifamily Community in Birmingham

BIRMINGHAM, ALA. — Novare Group and Batson-Cook Development Co. (BCDC) will develop a 286-unit multifamily community in Birmingham. The joint venture acquired the 48-acre plot. The existing AT&T operations center is located on the land and will remain there for the immediate future. Phase I will include studio to three-bedroom floor plans. Communal amenities will include a clubroom, coworking space, fitness center, yoga room, pool, grilling area, fire pit, bocce ball court, dog wash area …

Marcus & Millichap Arranges $12.9M Sale of Walmart in Sylacauga, Alabama

SYLACAUGA, ALA. — Marcus & Millichap has arranged the $12.9 million sale of a 178,420-square-foot Walmart in Sylacauga. The property, which was built in 1996, is double net-leased to Walmart with 11 years remaining on the lease. The asset is located at 41301 U.S. Highway 280, 45 miles southwest of downtown Birmingham. Don McMinn of Marcus & Millichap’s Taylor McMinn Group represented both the buyer, Agree Development, and the seller, RP Payton Park LLC, in the

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