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Sale of Tuscaloosa Publix Illustrates Investor Enthusiasm for Sunbelt Retail
Cushman & Wakefield has arranged the sale of Publix at Bristol Park, a 58,887-square-foot shopping center located in the Tuscaloosa, AL submarket of Northport. The final sale price was $15 million, equating to approximately $254 per square foot.
Margaret Jones and Lane Breedlove of Cushman & Wakefield represented the seller, Watkins Real Estate Group, in the transaction.
“The level of investor interest for Publix at Bristol Park demonstrates the demand for quality grocery-anchored product in the Southeast,” said Jones.
“A growing number of investors are seeking cash-flow durability and attractive risk-adjusted returns,” added Breedlove. “New investors are pouring into Sunbelt retail real after witnessing consistent performance throughout the pandemic.”
Located at 13556 Hwy 69 North, Publix at Bristol Park was 96% leased at the time of sale. The property was built in 2019 and is Publix’s only location within a four-mile radius.
- ◦Sale/Acquisition
