2 retail centers in Huntsville area sell for $10 million

2 retail centers in Huntsville area sell for $10 million

Two commercial retail centers in north Alabama – one in Huntsville, one in Madison – recently sold separately for a total price of almost $10 million.

The transactions were arranged by Colliers’ Southeast Investment Sales Team and the properties are considered prime locations with multiple tenants with nationally-known brands.

Related: Huntsville’s Foundry development on Governors is now complete

The Huntsville property is Magna Carta, located on South Memorial Parkway near Hays Farm and a Walmart shopping district. The Madison property is Madison Corners, located on Balch Road off U.S. 72 near Clift Farm and adjacent to Madison Hospital.

Magna Carta includes tenants such as Results Physiotherapy, Bedzzz Express, Marco’s Pizza, T-Mobile, Great Clips and First Franklin. It has 22,378 square feet of retail space and Washington-based Pacific West Land purchased it for $4.85 million from Magna Carta Place LLC. Magna Carta generated more than 20 offers, according to the announcement.

Madison Corners includes tenants such as Stretch Zone, Tropical Smoothie and Firehouse Subs. It has 14,400 square feet of retail space and a private family office in Montgomery purchased it for $4.9 million from a private seller.