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Colliers Brokers Sale of Huntsville Trader Joe's

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Asset sets record for price and CAP

Huntsville, AL. – February 23, 2022 – Colliers today announced the record sale for a single-tenant Trader Joe's. Located in Huntsville, AL, the deal set a new high for price and CAP of a similar asset type. The recently constructed property sits at State Route 255 and University Drive. Positioned on the premier outparcel and entrance to MidCity District, the site grants easy access and excellent visibility to the 61,100 vehicles that travel adjacent roads daily. Exceptionally well planned and with outstanding real estate fundamentals, MidCity District was recently cited as one of the 12 largest mixed-use developments in the nation. The project expects to receive over $1 billion in private investment.

"Trader Joe's seldom trades in the public market," said Eric Carlton, Executive Vice President at Colliers. "Due to the lack of availability for private investors, it is incredibly rare to see a property like this trade hands. All the necessary pieces were present to position this asset for a record price and CAP."

Colliers' Snyder Carlton Team, a southern California-based brokerage team specializing in single-tenant and multi-tenant retail investment properties nationwide, represented the seller in the deal. Negotiations by the Snyder Carlton Team demonstrate the current strength and tremendous demand for NNN properties across the country.

"Following population migration, California buyers will continue to move assets and investments out of California, New York, and across the country for taxation issues," said Carlton. "Somewhat overlooked by big capital investment, Huntsville has tremendous population and commercial growth potential."

An undisclosed 1031 buyer from California purchased the property with a brand new 10-year guaranteed lease and rental increases every five years. The sales price for the transaction was also undisclosed.
 

Media Contact: 
Leanne Daly 
PR & Communications Specialist | Southwest 
Leanne.Daly@colliers.com 
760-930-7941 
 
Bryan Welch 
Sr. PR & Communications Manager | Southwest 
Bryan.Welch@colliers.com 
801-453-6819 


 
About Colliers 
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers, or LinkedIn

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