Alabama

HOOVER, ALA. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Stadium Trace Village, a 33,625-square-foot retail center in Hoover. MAP Development sold the property for $13.9 million to Liberty Retail Properties. Boris Shilkrot, Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller. The buyer was self-represented in the transaction. Built in 2019, Stadium Trace Village is shadow-anchored by Aldi, Duluth Trading Co. and UAB Medicine. The center is fully occupied by retailers such as OHenry’s Coffee, Edgar’s Bakery, Mooyah Burgers, Cookie Cutters, Taco Mama and Super Chix. Located at 5220 Peridot Place, the property has access to Interstate 459 and is situated directly across from Brookwood Baptist Health Center. The property is part of a master-planned mixed-use development that was approved by Hoover’s City Council to be the city’s first open container entertainment district. The development is also set to include two hotels and a 1,000-seat amphitheater.

GULF SHORES, ALA. — Franklin Street has arranged the sale of Pelican Place at Craft Farms, a 220,372-square-foot shopping center in Gulf Shores. Bryan Belk and John Tennant of Franklin Street’s Atlanta-based Retail Investment Sales Team represented the seller, an affiliate of RCG Ventures, in the transaction. Atlanta-based Octave Holdings purchased the property for $16 million. Pelican Place at Craft Farms was 82.9 percent leased at the time of sale to tenants such as CMX Cinemas movie theater, Books-A-Million, Bed Bath & Beyond and Dollar Tree. The property is shadow-anchored by Target and Publix. Located at 3800 Gulf Shores Parkway, Pelican Place at Craft Farms is situated approximately 1.6 miles from the Jack Edwards National Airport. The property is also situated at the entrance of Craft Farms, a 150-acre master-planned community that features a golf course.

MADISON, ALA. — JLL Capital Markets has arranged the $19.2 million sale of Madison Commons, a 75,340-square-foot shopping center in Madison. JRW Realty represented the buyer, ExchangeRight. Brad Peterson, Whitaker Leonhardt, Jim Hamilton, Brad Buchanan, Andrew Michols and Michael Brewster of JLL represented the seller, Michael Collard Properties. Completed in 2018, Publix anchors the property, which is currently 92 percent occupied. Other national and regional tenants include Easy Vet Clinic, Golden China, ATI Physical Therapy, Goodwill, Primp and Posh Nail and Pita Mediterranean. Located at 300 Hughes Road, the asset sits at the intersection of Hughes and Brows Ferry roads less than two miles from U.S. Highway 72.

BIRMINGHAM AND HUNTSVILLE, ALA. — JLL Capital Markets has arranged the sale of Crossings of Hoover and Strong Station, two retail centers totaling 133,705 square feet in Birmingham and Huntsville, respectively. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the Brentwood, Tenn.-based seller, GBT Realty Corp., in the transaction. Warner Robins, Ga.-based Livingston Properties acquired both properties for a total of $26.6 million. Built in 2015, Crossings of Hoover is a 37,765-square-foot retail center anchored by Sprouts Farmers Market. The property is located 11 miles south of downtown Birmingham and has direct access to Interstate 459. Strong Station is anchored by Sprouts Farmers Market and Hobby Lobby and is shadow-anchored by Academy Sports + Outdoors. Built in 2015, the shopping center spans 95,940 square feet.