Real Estate Roundup is a look at some of the commercial real estate dealmaking across the region. Send items to email@example.com.
• Shannon Waltchack brokers Tyler Bradford, CCIM and Keith Shamblin represented both the landlord and tenant in the lease of a 23,400-square-foot free-standing building in Montgomery’s Eastchase Mall area to Florida gym operator Amped Fitness. This will be the second location for Amped Fitness in the state of Alabama. Its first was in Birmingham’s Colonnade. Amped will be taking over the former Gold’s Gym space after it closed many locations throughout Alabama due to the Covid-19 pandemic.
• A partnership between Arch Companies and Drake Real Estate Partners has acquired a three-property portfolio of garden-style multifamily properties in Tuscaloosa, totaling 649 units. The acquisition was financed by Walker & Dunlop Commercial Property Funding and was arranged by Josh Jacobs, first vice president, investments with Marcus & Millichap, as well as Brian Savage, partner and managing director of Colliers International. The portfolio includes three properties south of downtown Tuscaloosa and the University of Alabama in the Southwood and Idlewood neighborhoods: Broadmoor Gardens, Copper Creek and Woodlawn Manor. As the Southeast market continues to appreciate, this is the third acquisition of a garden-style portfolio by the Arch-Drake partnership in less than five months. This purchase follows an acquisition of 672 garden-style units in Columbia, South Carolina, and 486 garden-style units in Birmingham earlier in this year.
• Hibbett (NASDAQ:HIBB) has opened its second Raleigh Hibbett Sports location. The new store is located at 5900 Poyner Anchor Lane, Raleigh, at Poyner Place. A grand opening event was held Aug. 28.
By: Birmingham Business Journal