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Atlanta & Southeast  + Southeast  + Retail  |  August 20, 2019
David Cohen
By: David Cohen

LBX Investments Acquires 208K-SF Retail Center Near Birmingham

LBX Investments has acquired Promenade Fultondale, a 208,568-square-foot super-regional retail center in Fultondale, AL. The center is approximately five miles north of downtown Birmingham. The sales price was not disclosed.

Located on more than 21 acres at 3345 Lowery Pkwy., the center was completed in 2008 and is currently 96% leased to a tenant roster that includes Ross Dress for Less, Five Below, JCPenney, Books-A-Million and Shoe Dept. The center is also shadow anchored by Target and Ashley Furniture HomeStore.

Jim Hamilton, Mike Allison and Brad Buchanan of JLL represented the seller, who was undisclosed, in the transaction. The transaction was secured by HFF prior to being acquired by JLL. Additionally, Miami-based Aztec Group secured a $14.7 million acquisition loan on behalf of LBX Investments through lender Alliant Credit Union.

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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