University Place Sold in Huntsville, Ala.

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.

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