WALMART SHADOW CENTER • The subject property is a is a 53,400 SF Walmart Supercenter Anchored Center located in Sylacauga, AL (Birmingham-Hoover MSA) • The center is shadow anchored by a well-performing Walmart Supercenter for over 20 years that just recently signed a brand new 10-year extension. • The subject property is 88% occupied with 83% national tenants including Burke’s Outlet, CATO, Sally Beauty, Shoe Show, and more. • Burke’s (42% of total GLA) has just signed a brand new 7-year extension and completed a full remodel showing its commitment to the center. • Strong tenant history with an average occupancy history of 15 years. • Leasing Momentum | In the past year four tenants have renewed and there has been one new lease. • Recently Renovated | New Paint & Awnings in 2019. • The center boasts strong real estate fundamentals | Perfect visibility, signalized intersection, ideal signage, sufficient parking, and newly renovated attractive facade.
DOMINANT RETAIL CENTER IN MARKET · REGIONAL DRAW • This Walmart Shadow Center is located as the heart of the main retail corridor of Sylacauga on US Highway 280 (21,065 VPD). • Surrounding retailers include: Brand New Construction Hobby Lobby & TJ Maxx Anchored Center (Directly adjacent), Home Depot, Chick-fil-A, Zaxby’s, Starbucks and more. • The subject property is the dominant retail center in the area and draws a regional audience | Next closest Walmart at least 30 minutes in every direction.
SYLACAUGA, AL • Sylacauga, commonly known as “The Marble City” and “Alabama’s Best Kept Secret”, is home to the finest white marble bedrock in America. The white marble bedrock was the first and largest industry in Sylacauga, with the main source being Gantts Quarry (located directly across from the Center). • Sylacauga & the surrounding Talladega county’s economy is also driven by a strong industrial presence with companies such as Honda, who’s auto plant continues to be an economic engine for Alabama, adding $12.1 Billion & 45,000+ jobs. • Sylacauga is also home to the Blue Bell Creameries distribution center, a multicomplex center that employs 300+ individuals and doubles as a major tourist attraction for visitors of Alabama. • While the city’s industrial sector has driven its economy; Sylacauga is also known as an extravagant getaway as it is home to Pursell Farms, a luxury resort with lodges, golf course, and a brand-new inn.
BIRMINGHAM- HOOVER - HOOVER MSA • With a population of 1.2M, the Birmingham-Hoover MSA is the largest and fastest growing MSA in Alabama. • Due to its rapid growth in recent years, Birmingham has earned the name “The Magic City” and has blossomed into a top-ranking business & banking center of the southeast. • The Birmingham-Hoover MSA boasts a strong and stable economy driven by Industrial expansion and automotive manufacturing | Largest Employers Include: Honda Manufacturing, Mercedes Benz U.S International, American Cast Iron Pipe Company, The United States Pipe and Foundry Company, and The United States Steel Corporation. • Another stronghold of Birmingham’s economy is its banking industry, with over $37 Billion in deposits from major banking centers.