SRS’ Investment Properties Group (IPG) exclusively marketed and brokered the sale of a fee simple ground lease sub-leased to At Home located near downtown Huntsville, Ala. The land tract consist of 17.15 acres and is located at 1401 North Memorial Parkway. The property benefits from its strategic position fronting the parkway, which is the primary north-south traffic corridor serving the city of Huntsville with 65,700 vehicles per day. Area retailers include Kroger, Costco Wholesale, AT&T, Five Guys Burgers and Fries, Dunkin’, Firestone Complete Auto Care, Staples, and CitiTrends. The seller, Ashburn Family Properties, sold the property on October 22, 2020 for $1.52 million to EBR Huntsville, LLC.
“It was great to be able to secure a motivated buyer for this strategic piece of land, while in the midst of the pandemic,” said Boris Shilkrot, associate of SRS’ Investment Properties Group. “Huntsville continues to receive a lot of attention – not just from local buyers, but also from an increasingly expansive portion of the national investment community, which recognizes the strength of the Huntsville market.”
Kyle Stonis, managing principal, Pierce Mayson, managing principal, and Boris Shilkrot, associate, of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer was self-represented in this transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit www.srsre.com.
