Agents Sourced Both Buyer and Seller of AL Grocery-Anchored Retail Investment
Hartselle, AL— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the acquisition of Crestwood Shopping Center, a grocery-anchored retail center located at 241 Hwy 31 SW, Hartselle, AL. Senior Associate Tripp Brown and Market Leader and Vice President Johnny Blue Craig represented the buyer in the transaction.
The buyer, a private investor out of Florida, acquired the 102,625-square-foot center to expand an already in-place portfolio that features several properties within the market. In addition to being a high-performing grocery asset, the property features upside potential through a lease-up strategy. The building was sold by a local developer.
“The seller did not want this asset on the open market, so our relationships with various buyers throughout the Southeast proved invaluable in getting the deal done,” Brown said. “We navigated plenty of road bumps along the way, but our connections and market knowledge allowed us to source a great asset for the buyer and achieve the seller’s goals.”
Crestwood Shopping Center is anchored by grocery giant Kroger, which operates over 2,700 stores nationwide. The retail facility also features a fuel center, Harbor Freight Tools, Pet Depot, Domino’s, and more.
“This investment offers several national chains and local retailers, providing stability and profitability for an owner,” Craig said. “We navigated adjustments during escrow effectively and were in constant contact with both parties to get this deal across the finish line before year-end.”
Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 15 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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