
AlbaneseCormier Acquires Popular Huntsville, AL Shopping Destination
AlbaneseCormier has acquired Valley Bend at Jones Farm in Huntsville, AL from Crawford Square Real Estate Advisors. The 430,792-square-foot shopping center includes anchor tenants HomeGoods, Dick’s Sporting Goods, Hobby Lobby, Marshalls, and PetSmart. It also features local and regional specialty retailers and restaurants, and includes 10 outparcels.
The 57.8 acre-property at 2742 Carl T. Jones Drive SE draws almost six million visitors each year.
“We are very pleased to add Valley Bend to our growing portfolio of high performing open-air centers,β said Clinton Mitchell, Chief Investment Officer. βThis acquisition provides an attractive mix of stable in-place cash flow with several value enhancement opportunities in one of the most dynamic and rapidly growing markets in the Southeast. It is rare to acquire a center of this scale where you can maintain site control owning all 10 outparcels, which we believe provides future mark-to market-potential and exit flexibility.”