Monday, October 2, 2017

HFF announces sale of and financing for multi-anchor retail center in Tuscaloosa, AL


 
McFarland Plaza Shopping Center, Tuscaloosa, AL

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and financing for McFarland Plaza Shopping Center, a 234,124-square-foot retail center with multiple national anchors in Tuscaloosa, Alabama.

The HFF team marketed the property for the seller, a partnership between DDR Corp. and TH Real Estate.  GBT Realty Corporation purchased the asset.  Additionally, working on behalf of the new owner, the HFF team placed the three-year, floating-rate loan with Värde Partners.  Loan proceeds will be used to fund the acquisition of the property and to execute a capital and leasing plan to stabilize the property.

Jim Hamilton
McFarland Plaza Shopping Center is anchored by T.J. Maxx, Ross Dress for Less, Michaels and Stein Mart and also home to Cato, Dollar General, H&R Block, Pet Supplies Plus, Nail Club and Lendmark Financial.

 Situated on 20 acres at 2600 McFarland Boulevard East, the center is located on Tuscaloosa’s dominant retail artery and is exposed to more than 58,000 vehicles per day.  Additionally, McFarland Plaza Shopping Center is one mile south from the University of Alabama, the largest university in Alabama with almost 38,000 students and more than 13,000 employees. 

The HFF investment sales team representing the seller included senior managing directors Jim Hamilton and Richard Reid and associates Mike Allison and Brad Buchanan.

The HFF debt placement team representing the borrower consisted of managing director Bill Fishel and director Matthew Stewart.

For more information on this press release, please contact:

Kristen M. Murphy
Director, Public Relations
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com


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