ATLANTA (October 26, 2021) – SRS’ Investment Properties Group exclusively marketed and brokered the sale of Stadium Trace Village, a 33,625-square-foot mixed-use retail center shadow-anchored by Aldi, Duluth Trading Company, and UAB Medicine. Stadium Trace Village is part of a master-planned mixed-use development that was approved by Hoover’s City Council to be the city’s first open container entertainment district. The property is a food and service-centric retail asset and has a distinctive town center appeal that makes it one-of-a-kind within the Birmingham-Hoover MSA. MAP Development sold the property on September 24, 2021, for $13.9 million to Liberty Retail Properties.
The mixed-use property was constructed in 2019 with an institutional quality, architecturally minded design with a town center aesthetic, phenomenal walkability and ample outdoor seating. Stadium Trace Village is 100% occupied with national and regional retailers, along with popular local restauranteurs and boutiques, which have long-established reputations within the Birmingham market such as OHenry’s Coffee, Edgar’s Bakery, Mooyah Burgers, Cookie Cutters, Taco Mama, Super Chix, and more. In addition to a plethora of bars and restaurants, the surrounding development is also set to include two hotels and a 1,000-seat amphitheater.
The center’s location at 5220 Peridot Place, accommodating 39,905 vehicles per day, is adjacent to the brand new 39,000-square-foot UAB Medical clinic, and directly across from Brookwood Baptist Health Center, adding to the nearby infrastructure and overall foot traffic. Occupying direct access just off I-459 serving 69,067 vehicles per day, within a major retail node which includes Publix, Sprouts, Super Target, At Home, Marshalls, Kohl’s, Petco, Dollar Tree, and more. Additionally, the demographic profile for the area is exceptional with a growing, affluent population with over 100,000 people within a 5-mile radius and an average household income of $140,622 within one mile.
“We were thrilled to get this unparalleled, generational asset sold to an accomplished local buyer, said Boris Shilkrot, associate, of SRS’ Investment Properties Group. “Stadium Trace Village is a truly exciting lifestyle center development, which will be the preeminent gathering place in Hoover for many years to come.”
Boris Shilkrot, associate, along with Kyle Stonis, and Pierce Mayson, both managing principals of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer was self-represented in this transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.