REBusinessOnline

CBRE Brokers $8.4M Sale of Shopping Center in Birmingham

BIRMINGHAM, ALA. — CBRE has arranged the $8.4 million sale of The Shops on Montevallo, a 64,851-square-foot shopping center located near I-20 in Birmingham. Built in 1985 and renovated in 2012, the retail center was 97 percent leased at the time of sale to tenants including anchor Planet Fitness. Baltimore-based Continental Realty Corp. purchased the property from local developer Merchants Retail Partners. Craig Taylor of CBRE’s Atlanta office and Cliff Taylor of the firm’s Jacksonville office represented the seller in the transaction.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

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