IPA Brokers $17.6M Sale of Eastwood Village Retail Center in Birmingham

by John Nelson

BIRMINGHAM, ALA. — Zach Taylor of Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $17.6 million sale of Eastwood Village, a 130,056-square-foot shopping center in Birmingham. Situated near a new Amazon facility, the center is anchored by Walmart, which was not part of the transaction. Other tenants of Eastwood Village include Ross Dress for Less, Office Depot, Michael’s and Party City.

Taylor represented the seller, a partnership based in Louisiana, and sourced the buyer, a private syndicator based in California that paid all-cash.

“The key to this transaction was selecting a buyer that was truly all-cash,” says Taylor. “This took the uncertainty of rising interest rates off the table and allowed us to trade at an aggressive cap rate.”

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