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Atlanta & Southeast  + Southeast  + Retail  | 
Halpern Enterprises, Inc., has acquired the Inverness Plaza shopping center in Birmingham, AL for $13.4 million.

Halpern Enterprises Adds to Southeast Portfolio with $13M Birmingham Retail Buy

Atlanta, GA-based Halpern Enterprises, Inc., has expanded its retail portfolio with the $13.4-million acquisition of Inverness Plaza, a 74,719-square-foot shopping center at in Birmingham, AL.

The transaction represents Halpern’s fifth property purchase in the last five years, and the company’s first shopping center acquisition in the Birmingham MSA. The company owns and operates more than 50 properties totaling more than 3.7 million square feet, in AL, GA, NC, SC and TN.

The 1985-constructed Inverness Plaza was 98% leased at the time of purchase and is anchored by a 25,527-square-foot PGA Superstore and a 20,158-square-foot Planet Fitness. Other tenants include The UPS Store, Diamond Golf Cars and Metro Diner. The shopping center also features Regions Bank, PNC Bank, CVS Pharmacy and Alabama Outdoors on separately owned outparcels.

Inverness Plaza is situated at intersection of Valleydale Road and Highway 280, adjacent to Inverness Corners, a 242,000-square-foot shopping center anchored by Kohl’s and Winn-Dixie.

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About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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