HFF closes $6.1M sale of Publix in Birmingham, AL

ATLANTA, GA – The Atlanta office of HFF (Holliday Fenoglio Fowler, L.P.)  has closed the sale of a 44,271-square-foot Publix grocery store in Birmingham, Alabama.

The HFF investment sales team was led by director Jim Hamilton (top right photo) who represented the seller, Inland Western Retail Real Estate Trust, Inc. Cole Capital – Cole Real Estate Investments purchased the property for $6.1 million free and clear of debt.

 In addition, HFF Atlanta recently closed the sale of a Harris Teeter store in North Carolina on behalf of Inland Western Retail Real Estate Trust, Inc.

Completed in 2004, the property is fully leased to Publix through November 2024. The store is situated on a 4.8-acre site at 3141 Overton Road in the Mountain Brook area of Birmingham.

“There are only three competing grocers in the immediate Mountain Brook area, encouraging strong sales and stability at the property,” said Hamilton.

“In addition, the Mountain Brook area is an extremely affluent area of Birmingham with an average household income of more than $132,000 within a three-mile radius from the property.”

Inland Western Retail Real Estate Trust, Inc. is a self-managed real estate investment trust that acquires, manages and develops a diversified portfolio of real estate, primarily multi-tenant shopping centers across the United States.

As of June 30, 2009, Inland’s portfolio under management totaled in excess of 49 million square feet, consisting of 301 wholly-owned properties. They also have interest in 12 unconsolidated operating properties and 17 properties in 7 development joint ventures.

For further information, please see the company website at http://www.inlandwestern.com/.

For three decades, Cole has partnered with thousands of investors in the ownership of various types of commercial real estate. Since 1979, Cole has introduced more than 100 investment programs and manages a portfolio of properties valued at approximately $4.0 billion across 45 states and the U.S. Virgin Islands.

Contacts:

Jim Hamilton, HFF Director, (404) 942-2212, jhamilton@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com