BIRMINGHAM, Ala – The transition into 2015 brought 5 significant acquisitions to the Shannon Waltchack managed portfolio. SW is thrilled to increase its presence in emergent markets, extending the firm’s statewide footprint.
1. Madison Retail
Madison Retail Partners, LLC purchased Promenade Point, a ±11 acre project featuring a 23,062 SF shopping center and a ±50,000 SF retail pad adjacent to the Wal-Mart Supercenter in Madison, Alabama (Huntsville MSA). Due to its appealing demographics and steady growth, Madison is currently one of the most sought-after retail trade areas in all of Alabama. Promenade Point is located on Highway 72, with excellent proximity to the Madison Hospital. This is SW’s first portfolio property in the Huntsville area. Andrew Patterson, Derek Waltchack and Scott Hinkle represented the buyer; the seller was Colonial Properties Services, Inc.
2. Elliottsville Plaza
This 16,900 SF retail center is located on Highway 119 in the effervescent retail and medical community of Alabaster, AL. There is a solid retail tenant mix and multiple major national tenants nearby. Len Shannon represented the buyers, Seedcorn, LLC and J&S Realty. Mark Dinan represented the seller, Elliottsville Plaza, LLC.
3. Auburn Retail
Opelika and Gay, LLC acquired a 7,000 SF building located at its namesake intersection of Opelika Road and Gay Street. This retail building sits prominently with rare proximity to downtown Auburn. This is SW’s first property in Lee County. Tim Blair represented the buyer and Bill Perry of Overton Real Estate represented the sellers, Keith and Scott Pridgen.
4. Third Avenue North Building
SWBP Colonnade, LLC purchased the former Massey Business College, a ±21,000 SF building at 2024 3rd Avenue North, from the City of Birmingham. With a prime location in the heart of the city center, this historic building is full of architectural potential and charm. Its 14-18 foot ceilings, floor-to-ceiling windows and penthouse skylights open the possibilities to mixed-use, office or retail options.
5. 4509 Pine Tree Circle
Shannon Waltchack and Harris Doyle Homes will join forces to construct a garden office building at 4509 Pine Tree Circle. Pine Tree Partners, LLC, an affiliate of Shannon Waltchack, has owned this property for 7+ years and has been waiting for the right time to develop. With the new Grandview Medical Center opening in the next year and the economy on the rebound, now is the time. The proposed building is ±5,250 SF and will appeal to both general office and medical office users alike. It is currently on the market to be leased. Check out the listing here.
Photos from left to right: Madison Retail, 4509 Pine Tree Circle, and Elliottsville Plaza; Full-size, high-resolution images are available via [email protected].
About Shannon Waltchack
A full service commercial real estate firm, Shannon Waltchack manages, brokers, develops, and acquires property across the Southeast. Since its inception in 2005, Shannon Waltchack has closed more than $1 billion in real estate deals and manages a diverse portfolio that includes more than 70 properties spanning five states and over 2.7 million square feet. For more information, please visit shanwalt.com.
Shannon Waltchack is a member of TCN Worldwide, a global network of independent commercial real estate firms with offices throughout the United States and abroad. This affiliation allows us to utilize a network of global resources, including an on-the-ground presence and research analytics in more than 200 different markets including over 800 brokers.
205.868.3807 / [email protected]