GBT Realty Corp. to Develop $18M Shopping Center in Alabama

ALBERTVILLE, ALA. — GBT Realty Corp. will soon begin developing The Shoppes of Albertville, an $18 million, 135,000-square-foot retail center located on a 13.2-acre tract of land in Albertville. The property is currently 92 percent pre-leased to tenants such as PetSmart, T.J. Maxx, Hobby Lobby, Ross Dress for Less and Hibbett Sports. GBT Realty expects to deliver the property in spring 2016. GBT entered into a development agreement with the city of Albertville whereby the city agreed to sell bonds to provide $5 million of funding to offset pre-development and development costs. Upon completion, a portion of the sales tax generated at the shopping center will pay off the bonds.

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

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties