AlbaneseCormier Acquires Popular Shopping Destination in Huntsville, AL

AlbaneseCormier Acquires Popular Shopping Destination in Huntsville, AL

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 as well as local and regional specialty retailers and restaurants with 10 outparcels.

The 57.8 acre-property at 2742 Carl T. Jones Drive SE draws almost six million visitors each year making it a popular destination for shoppers in the area.
Clinton Mitchell Chief Investment Officer said “We are very pleased to add Valley Bend to our growing portfolio of high performing open-air centers.” He went on to say “This 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.” Mr Mitchell also noted that “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”.

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