Holliday Fenoglio Fowler, L.P. announces the sale of Whole Foods Market Plaza, a 175,673-square-foot, Whole Foods Market-anchored retail center in the suburban Birmingham community of Hoover, Alabama.
The HFF team marketed the property on behalf of the seller, Boyle Investment Company’s Midsouth Capital Fund. TH Real Estate, an affiliate of Nuveen (the investment arm of TIAA), purchased the assets.
Originally completed in 1980, Whole Foods Market Plaza was renovated in 2016 and is considered a top shopping destination in Birmingham. The center is home to a Whole Foods Market – the most sought-after and technologically advanced grocery in the market – in addition to PetSmart, Best Buy, Bella’s Bridal and Formal, Newk’s and more. Situated on 18.9 acres at 3780 Riverchase Village, the retail center is at the “Main and Main” intersection of Montgomery Highway and Lorna Road, the top shopping destination in Birmingham with a combined traffic count of 84,400 vehicles per day. Whole Foods Market Plaza is in Hoover, an affluent suburb about 10 miles south of downtown Birmingham. Approximately 120,000 residents earning an average annual household income of $109,000 live within a five-mile radius of the center.
The HFF investment advisory team representing the seller included senior managing director Jim Hamilton and associate Shea Petrick.
About Boyle Investment Company
Founded in 1933, Boyle Investment Company offers extensive development, sales, leasing and property management capabilities, including the development of office, retail, residential and mixed-use properties. Boyle provides premier locations, innovative design and long-range planning. Boyle is a master at developing stimulating environments that endure the test of time. Their reputation for quality has been achieved through great attention to detail and service. Learn more at http://www.boyle.com.
About TH Real Estate
TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with $114 billion in AUM. TH Real Estate provides access to every aspect of real estate investing. With over 80 years of investing experience, and more than 530 real estate professionals located across 22 cities throughout the US, Europe and Asia-Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise. Visit https://threalestate.com for more information.
About HFF
HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.
