JLL Capital Markets closes sale of the 24,760-square-foot 280 Station shopping center in Birmingham, AL

280 Station, a 24,760-square-foot
shopping center located in Birmingham,
 Alabama’s dominant US-280 retail corridor 

 

ATLANTA, GA, Sept. 20, 2023 – JLL Capital Markets has closed the sale of 280 Station, a 24,760-square-foot shopping center located in Birmingham, Alabama’s dominant US-280 retail corridor. The price was not disclosed.

 

JLL represented the seller, and procured the buyer, a real estate fund advised by Crow Holdings Capital.

 

The JLL Retail Capital Markets team was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Analyst Anton Serafini.

 Jim Hamilton

280 Station is 91% occupied and home to a synergistic tenant mix of national and regional tenants, including Dunkin’, Oasis Nails & Spa, Eyemart Express, Subway, Bedzzz Express, Isbell’s Jewelry, Budget Car Rental, Tint World, State Farm Insurance and Tao Massage. 

The tenancy features a weighted average tenure of 8.3 Years.

 

Situated on 1.7 Acres at 420 Cahaba Park Circle, 280 Station features direct road frontage on US-280, where over 90,000 vehicles pass the property each day.

 

The US-280 corridor is one of Alabama’s most dominant retail corridors, home to 5.4 million square feet of retail estimated at 96% occupancy, and supported by the area’s affluent demographics, with an average household income exceeding $150,000 and over 115,000 residents within five miles of the property.

 

Brad Buchanan

“280 Station is a well-established retail center ideally positioned along Highway 280, one of the most heavily trafficked thoroughfares in the Birmingham MSA with nearly 90,000 vehicles passing by the property each day," said Buchanan.

 

"We received significant interest from a wide variety of capital sources, which is a testament to the quality of the asset and the continued investor demand for service-oriented neighborhood retail centers throughout the Southeast.”

 

CONTACT:

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com