5415 Beacon Dr, Irondale, AL 35210

Sean Glickman, CCIM, Managing Director at the Milano-Glickman Retail Team and Colliers International is proud to present Grant’s Mill Station, a 224,955 square foot anchored shopping center located in Birmingham, Alabama. This is an excellent opportunity to acquire a true destination shopping center with great value-add potential in an established retail submarket in a major MSA.

EXCELLENT VALUE-ADD POTENTIAL
Although A 7 square foot box. The prospective purchaser has the potential to drastically increase the NOI by releasing the space. Additional capital investment may be required to release this space and could be financed in addition to the purchase price.

TRUE DESTINATION CENTER THAT CREATES A UNIQUE EXPERIENCE
Not only does Grant’s Mill Station offer a great mix of value-oriented retail and service tenants that cater well to the demographics, there are multiple family friendly entertainment components to the shopping center that help draw traffic to the property. Grant’s Mill Station has been revitalized into a true destination shopping center that creates a unique experience and is unlike any other shopping center in the competitive set of retail properties.

PROFESSIONALLY OWNED AND MANAGED
When the current owner acquired the property in December of 2012 the property had a list of deferred maintenance issues. The owner spent a substantial amount of money improving the façade and giving the shopping center a face lift. In addition, the owner put a brand-new Firestone membrane roof over a a portion of the property with a fifteen (15) year transferable warranty effective March, 2015.

ESTABLISHED RETAIL SUBMARKET IN A MAJOR MSA
Birmingham is the largest city in the State of Alabama with an MSA population of over 1.1 million, a significant increase of 17% since 1990. Birmingham serves as one of the most substantial business centers in the Southeast, enjoying a balanced manufacturing, technology, medical research, banking and service-based economy. In a 3-mile radius there are 39,007 people with an average household income of $73,484.