HFF closes sale of Publix-anchored shopping center in Birmingham, Alabama
MIAMI, FL – July 27, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has closed the sale of Clay Marketplace, a 66,165-square-foot community shopping center anchored by Publix in Birmingham, Alabama.
HFF marketed the property on behalf of the seller, Kite Realty Group Trust. The property was purchased free and clear of financing.
Clay Marketplace is anchored by Publix, the dominant grocery store in the region, and is 98 percent leased to AutoZone, Subway, Phil Rose Shoes, Spirit Locker, Pasquale’s and more. Situated on 7.8 acres at 2121 Sweeney Hollow Road, the center is in northeastern Birmingham on the west corner of the intersection of Chalkville Mountain Road, Old Springville Road and Sweeny Hollow Road, three of the trade area’s major roadways with combined traffic counts of approximately 53,970 vehicles per day. There are more than 48,000 residents earning an average annual household income of $64,747 within a three-mile radius of Clay Marketplace.
The HFF team representing the seller was led by senior managing director and co-head of HFF’s retail practice Daniel Finkle, senior managing directors Jim Hamilton and Brad Peterson and director Eric Williams.
“Clay Marketplace represented a rare opportunity to acquire a dominant Publix-anchored shopping center in Birmingham, Alabama, with strong tenant performance,” Hamilton said.
About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged in the ownership, operation, management, leasing, acquisition, construction, redevelopment and development of neighborhood and community shopping centers in selected markets in the United States. As of March 31, 2017, the company owned interests in a portfolio of 120 operating, development and redevelopment properties totaling approximately 24 million total square feet across 20 states. For more information, please visit the company’s website at kiterealty.com.
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.