SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of University Place in Huntsville, Ala. The community center consists of 169,585 square feet and is situated on 17.15 acres of land. The center is shadow-anchored by Burlington and anchored by Conn’s HomePlus and 24e Health Clubs. The center is 100 percent occupied by a mixture of national, regional and local tenants including Cheddar’s Scratch Kitchen, Armed Forces Career Center, Zaxby’s, Panda Express, Red Wing Shoes, Republic Finance, T-Mobile, Subway and more. The property is located at 6125 University Drive along US-72, at the signalized intersection of University Drive and Enterprise Way, just west of Research Park Boulevard. The center’s strategic, regional location provides high visibility and excellent traffic count of 58,190 vehicles per day. The seller, MGold Properties and Mishorim Real Estate Investments, who own and operate numerous commercial properties throughout the U.S., sold the property on April 25, 2019 for $27 million to Colterra Capital Corporation.
“University Place was a great transaction for everyone involved”, said Pierce Mayson, principal, Investment Properties Group. “The success of the shops and restaurant tenants at the property truly is a testament to its phenomenal location in Huntsville, which continues to see unbelievable growth and job creation in the technology and aerospace sectors.”
Kyle Stonis, managing principal, and Pierce Mayson, principal, 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 20 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 www.srsre.com.