DECATUR, AL – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today it has closed the sale of Decatur Commons shopping center in Decatur, AL, for $13.2 million. Located at 1605 Beltline Road, the shopping center is anchored by Publix, Petco and Goody’s.
Vice Presidents Drew Fleming and Mark Joines of Cassidy Turley’s Southeast Retail Group represented the seller in the transaction. Cole Real Estate Investments purchased the shopping center. The name of the seller was not disclosed. The shopping center is 86% leased, and houses the only Publix grocery store in Decatur, AL.
“Grocery-anchored shopping centers remain in demand and continue to attract premium pricing from the investment market,” Mr. Fleming said. “With its three solid anchors and excellent location along the city’s main retail corridor just south of Decatur Mall, Decatur Commons offers strong revenues and the opportunity to increase returns.”
Located six miles from downtown Decatur, the shopping center includes a 44,840-square-foot Publix, a 19,288-square-foot Goody’s, a 13,500-square-foot Petco, 29,875 square feet of retail shops, and one available retail box of 17,708 square feet.
About Cassidy Turley Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. The company represents a wide range of clients — from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services — including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.