JLL Capital Markets arranged the sale of the 89,576-square-foot Riverchase Crossings in Hoover, Alabama
News release
22 August 2022
Birmingham MSA retail center sells for $12.9M
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ATLANTA, August 22, 2022 – JLL Capital Markets announced today that it has closed the $12.9 million sale of Riverchase Crossings, an 89,576-square-foot retail center located in Hoover, Alabama within the Birmingham MSA.
Both JLL and EHG Properties represented the seller, Riverchase Crossings, LLC, and procured the buyer, Livingston Properties.
Built in 1977 and renovated in 2004, the 100-percent-occupied Riverchase Crossings spans approximately 8.51 acres. Current tenants of the property are Bed Bath & Beyond, Michaels, Office Depot and Chipotle. The site also offers a total of 556 parking spaces.
Located at 1761 Montgomery Hwy., the property offers super-regional access with Interstate 459, Interstate 65 and Route 31. The property features six points of ingress/egress, including two signalized access points off of Montgomery Highway and Lorna Road. Nearly, 78,000 vehicles pass the property along the two intersection streets. Additionally, the center benefits from an affluent submarket with an average household income within a three-mile radius of over $100,000, 42% higher than the Alabama average.
The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Managing Director Brad Buchanan, Senior Managing Director Jim Hamilton and Associate Andrew Kahn. The EHG Properties team that represented the seller was led by Emris Graham.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Livingston Properties
Livingston Properties owns, develops, redevelops, manages and leases shopping centers, NNN properties, and office buildings throughout the Southeast with its primary focus in the northern suburbs of Atlanta. Livingston Properties is a privately held company based out of Warner Robins, Georgia. The company’s current portfolio consists of over 1.3 million square feet focusing primarily on grocery and other big box anchored or shadow centers. In business for over 35 years, Livingston Properties welcomes opportunities for other acquisitions within the region.