Valley Bend at Jones Farm. Picture courtesy of AlbaneseCormier Holdings
AlbaneseCormier Holdings has acquired Valley Bend at Jones Farm, a 430,792-square-foot, open-air retail middle in Huntsville, Ala. Crawford Sq. Actual Property Advisors was the vendor, public information present.
Valley Bend options anchor tenants equivalent to HomeGoods, Dick’s Sporting Items, Pastime Foyer, Marshalls, PetSmart, in addition to a number of native and regional retailers and eating institutions. The property additionally options 10 outparcels and is residence to an independently owned Tremendous Goal, which is probably the most visited Goal location inside a 50-mile radius.
READ ALSO: An Insider’s View on Retail Demand within the Southeast
Positioned at 2742 Carl T. Jones Drive SE, the retail middle serves a inhabitants of 96,075 residents inside a 5-mile radius, in keeping with the proprietor’s web site. Spanning 57.8 acres, the buying middle has solidified its place as the highest retail vacation spot in Huntsville, having 5.9 million guests yearly.
Whereas the general year-over-year progress of retail gross sales decreased within the first quarter of this yr, sure classes like malls, miscellaneous retail, and electronics shops nonetheless caught the eye of buyers, a latest CBRE report reveals.
The identical supply additionally signifies that the nationwide common retail availability dropped to 4.8 p.c within the first quarter, which marks a 50-basis-point decline from the earlier yr and the bottom degree since CBRE started monitoring the market in 2005.
