HFF Closes on Suburban Birmingham’s 115,282 SF Cahaba Village
- Sep 09, 2010
September 9, 2010
By Allison Landa, News Editor
The retail sector saw a little bit of thawing this week as the Dallas and Atlanta offices of Holliday Fenoglio Fowler L.P. announced that they have closed the sale of Cahaba Village, a grocery-anchored shopping center in Mountain Brook, Alabama. The 115,282-square-foot property is located at 2800-311 Cahaba Village Plaza about 5.5 miles from downtown Birmingham. It houses the only Whole Foods Market in the state of Alabama.
According to HFF senior managing director Barry Brown, who with managing director Ryan Shore and director Jim Hamilton led the investment sales team on behalf of seller Bayer Properties, Cahaba saw positive sales results in 2009 while most of the retail industry was experiencing woes.
Cahaba was bought by ING Clarion Partners on behalf of an institutional investor. The purchase price was not disclosed.
The shopping center was completed in 2007 and is currently 98 percent leased to tenants including FedEx Office, LensCrafters and Charles Schwab.