Trussville Promenade

JLL is pleased to announce the opportunity to acquire Trussville Promenade, located in Birmingham, Alabama, a top 50 US metro.

This property offers a unique opportunity to invest in a high-performing retail asset at 96% occupancy. The assets features a best-in-class tenant lineup including Walmart, Marshalls, Ross Dress for Less, Planet Fitness, PetSmart, Regal Cinemas, and Chick-Fil-A, along with Kohl's and Sam's Club shadow anchors. Five of the six anchors pay a below market rent and three of the six anchors roll within a 10-year hold period, offering Investors substantial value creation potential. Additionally, eight shop suites totaling ~16K SF are available for immediate lease up, providing an opportunity to immediately increase NOI by $400K+.

Trussville is one of Birmingham's most desirable and fastest growing submarkets, with 87% population growth since 2000 and an average household income of $145K. The city has invested significant capital into the area, with new public parks, a redeveloped downtown, along with new schools and civic center in immediate plans for development. Birmingham has been ranked a top city in the United States, with 1.2M residents, the #5 lowest unemployment rate (2.6%), and the #4 highest job growth.

Please reach out to the JLL deal team to learn more about this opportunity.