Real estate fund advised by Crow Holdings Capital acquires shopping center in Birmingham, Ala.
A real estate fund advised by Crow Holdings Capital announced that it has acquired 280 Station, a 24,760-square-foot shopping center located in Birmingham, Ala.’s dominant US-280 retail corridor.
JLL represented the seller and procured the buyer.
280 Station is 91 percent occupied and home to a tenant mix of national and regional tenants, including Dunkin’, Oasis Nails & Spa, Eyemart Express, Subway, Bedzzz Express, Isbell’s Jewelry, Budget Car Rental, Tint World, State Farm Insurance and Tao Massage. The tenancy features a weighted average tenure of 8.3 years.
Situated on 1.7 acres at 420 Cahaba Park Circle, 280 Station features direct road frontage on US-280, where more than 90,000 vehicles pass the property each day. The US-280 corridor is one of Alabama’s most dominant retail corridors, home to 5.4 million square feet of retail estimated at 96 percent occupancy, and supported by the area’s affluent demographics, with an average household income