Midland Atlantic Purchases Valleydale Marketplace Shopping Center
Winn-Dixie-anchored center has opportunity to quickly create value for expanding area
BIRMINGHAM, Ala. - Real estate developer Midland Atlantic has acquired Valleydale Marketplace, a 64,000 square-foot retail center located at 2653 Valleydale Road.
Purchased from Valleydale Associates Ltd. on July 26, the center is anchored by Winn-Dixie and is currently 85 percent occupied. Midland Atlantic is already working with a national tenant to fill the majority of the vacancy.
"We were initially attracted to the center due to its great visibility and access," said Dave Wik, director of acquisitions for Midland Atlantic. "The property is located at a strong retail intersection in the rapidly growing Hoover area of south Birmingham."
The property marks the third purchase for Midland's Acquisitions Division, which was introduced in May to purchase grocery-anchored shopping centers in the Midwest, mid-Atlantic and southeast regions of the country. Midland-s in-house property management and leasing divisions will handle the ongoing operations of the center.
BIRMINGHAM, Ala. - Real estate developer Midland Atlantic has acquired Valleydale Marketplace, a 64,000 square-foot retail center located at 2653 Valleydale Road.
Purchased from Valleydale Associates Ltd. on July 26, the center is anchored by Winn-Dixie and is currently 85 percent occupied. Midland Atlantic is already working with a national tenant to fill the majority of the vacancy.
"We were initially attracted to the center due to its great visibility and access," said Dave Wik, director of acquisitions for Midland Atlantic. "The property is located at a strong retail intersection in the rapidly growing Hoover area of south Birmingham."
The property marks the third purchase for Midland's Acquisitions Division, which was introduced in May to purchase grocery-anchored shopping centers in the Midwest, mid-Atlantic and southeast regions of the country. Midland-s in-house property management and leasing divisions will handle the ongoing operations of the center.
