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| 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.
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| Jim Hamilton |
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.
“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.
Brad 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
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