A Madison shopping center anchored by Publix has sold for $19.15 million.
JLL Capital Markets announced the sale of Madison Commons, a 75,340-square-foot complex at 300 Hughes Rd.
JLL marketed the property on behalf of the seller, Michael Collard Properties. JRW Realty was the sourcing broker on behalf of ExchangeRight.
Completed in 2018, the 92% occupied Madison Commons is anchored by Publix along with tenants Easy Vet Clinic, Golden China, ATI Physical Therapy, Goodwill, Primp and Posh Nail, Pita Mediterranean and others.https://0768e7c69d18abeecbc320d2a4962a32.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html
The JLL Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Brad Peterson, Senior Director Whitaker Leonhardt and Director Michael Brewster, along with Senior Managing Director Jim Hamilton, Senior Director Brad Buchanan and associate Andrew Michols.
“Publix-anchored shopping centers continue to command the highest demand from retail investors in the southeast, and the sale of Madison Commons reaffirms this trend,” Peterson said.
It’s the latest deal in the heavily competitive Huntsville-area market, which also saw this month the JLL-brokered sale of Strong Station, a 95,940-square-foot shopping center anchored by Sprouts Farmers Market and Hobby Lobby. It sold as part of a deal with a Hoover shopping center for $26.55 million.
“There is significant interest from top-tier capital and retailers that wants a presence in Huntsville,” Hamilton said.