Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of Westside Centre, a 477,408-square-foot retail power center with multiple national anchors in Huntsville, Alabama.
HFF marketed the property on behalf of the seller, a partnership between Nuveen Real Estate and SITE Centers. Big V Property Group purchased the asset.
Westside Centre is home to a variety of tenants, including Ross Dress for Less, Shoe Carnival, Five Below, Big Lots, PetSmart, Men’s Wearhouse, Tuesday Morning, Stein Mart, Dollar Tree, Zoës Kitchen and Party City. Completed in 2001, the center is shadow anchored by a Super Target. Westside Centre is located at 6275 University Drive NW and is visible to more than 58,000 vehicles per day. The center is adjacent to the 4,000-acre Cummings Research Park, which is the second largest research park in the country and the fourth largest in the world. More than 38,500 residents earning an average annual income of $81,000 live within a three-mile radius of the center.
The HFF investment advisory team representing the seller included senior managing director Jim Hamilton and directors Brad Buchanan and Mike Allison.
About Nuveen Real Estate
Nuveen Real Estate is one of the largest investment managers in the world with $125 billion of assets under management. Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, Nuveen Real Estate provides access to every aspect of real estate investing. With over 80 years of real estate investing experience and more than 500 employees located across over 20 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise. For further information, please visit www.nuveen.com.
About SITE Centers
SITE Centers is an owner and manager of open-air shopping centers that provide a highly-compelling shopping experience and merchandise mix for retail partners and consumers. The company is a self-administered and self-managed REIT operating as a fully integrated real estate company and is publicly traded on the New York Stock Exchange under the ticker symbol SITC. Additional information about the company is available at www.sitecenters.com.
About Big V Property Group
Big V Property Group (BVPG) is a vertically-integrated shopping center investment management and property management company, with comprehensive services including leasing, on-site property management, construction management, finance/accounting and marketing. Utilizing state of the art technical platforms, the company has an excellent track record of providing quality property management and construction management services for over 40 years. The management team prides themselves on their attention to detail and expertise in this space and on providing a best-in-class experience for their key constituencies: tenants, shopping center owners and shopping center customers. BVPG owns and operate 44 grocery and discount anchored neighborhood and community shopping centers totaling 5.3 million square feet, primarily located in strong secondary markets throughout the Southeast U.S. For more information, visit https://www.bigv.com.
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.
