Trussville Promenade — Sale in Birmingham, AL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Birmingham, AL 35235
  • Year built: 1999

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Description

JLL is pleased to announce the opportunity to acquire Trussville Promenade, located in Birmingham, Alabama, a top 50 US metro. This property offers a unique opportunity to invest in a high-performing retail asset at 96% occupancy. The assets features a best-in-class tenant lineup including Walmart, Marshalls, Ross Dress for Less, Planet Fitness, PetSmart, Regal Cinemas, and Chick-Fil-A, along with Kohl's and Sam's Club shadow anchors. Five of the six anchors pay a below market rent and three of the six anchors roll within a 10-year hold period, offering Investors substantial value creation potential. Additionally, eight shop suites totaling ~16K SF are available for immediate lease up, providing an opportunity to immediately increase NOI by $400K+. Trussville is one of Birmingham's most desirable and fastest growing submarkets, with 87% population growth since 2000 and an average household income of $145K. The city has invested significant capital into the area, with new public parks, a redeveloped downtown, along with new schools and civic center in immediate plans for development. Birmingham has been ranked a top city in the United States, with 1.2M residents, the #5 lowest unemployment rate (2.6%), and the #4 highest job growth. Please reach out to the JLL deal team to learn more about this opportunity.

Market Context

This retail in Birmingham, AL is listed for sale. The building dates to 1999. Compare it against other retail listings for sale in Birmingham, AL — view the full market.

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