Picture by Markus Spiske through Unsplash
Final Mile Investments has acquired Whitesburg Middle, a 49,821-square-foot retail asset in Huntsville, Ala. JLL brokered the deal on behalf of the vendor, Baker Storey McDonald Properties.
The property was accomplished in 1990 and upgraded in 2002. Each nationwide and regional retailers are among the many heart’s tenants, together with Greenback Tree, Hollywood Feed, Edible Preparations, Baskin Robbins, Buff Metropolis Cleaning soap and Papa Murphy’s, amongst others.
Situated at 5000 Whitesburg Drive, Whitesburg Middle is in shut proximity to Crestview Medical Middle and Huntsville Excessive Faculty. Located simply east of U.S Route 231, the retail heart is uncovered to a every day automotive site visitors of roughly 60,000 automobiles. The placement can also be lower than 4 miles from downtown Huntsville and a few 10 miles from Cummings Analysis Park.
In keeping with a 3rd quarter 2022 retail report from Marcus & Millichap, the nationwide retail emptiness returned to ranges recorded earlier than the onset of the pandemic, with operations on this sector being supported by the labor market restoration.
With greater than 250 million sq. ft of retail house being leased within the U.S. within the 12 months ending in June, Whitesburg Middle presents a stable value-add alternative for the brand new proprietor, having three vacant areas obtainable for lease.
The JLL staff representing the vendor was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Affiliate Andrew Michols.
Earlier this month, a JLL Capital Markets staff brokered the sale of a 99,839-square-foot Harris Teeter grocery retailer in New Bern, N.C., on behalf of Columbia Growth Group and Lubert Adler.
