Harbert Retail’s Casey Howard and Lacey Scott secured a regional buyer and represented the Seller, Battal Partners, LLC, in the recent sale of the +/- 31,482 square foot Talladega Plaza Shopping Center in Talladega, Alabama, for $2.95M. This value-add multi-tenant medical and retail-anchored shopping center is located on the primary retail corridor, Stephen J. White Memorial Boulevard, in Talladega, Alabama, only 1 mile from Walmart and Tractor Supply.
This center has a mix of retail and medical/dental tenants that provide longevity and synergy. Tenants include: Therapy South, Cheaha Dentistry, Talladega Pediatrics, Greystone Neurology, H&R Block, Sherwin Williams, Red Bowl Asian and more. All Tenants were on Triple Net (NNN) Leases. The center was 81% occupied with one vacancy remaining and under-markets rents, as well as strong annual base rent increases for over 70% of the existing tenants, which created a rare investment opportunity with huge value-add.
Both Seller & Buyer were great to work with and successfully navigated through challenging market conditions and the Seller and Harbert Retail team utilized Ten-X to navigate a successful sale of the investment.
