Birmingham super-regional retail center is on the market

ATLANTA, Feb. 23, 2022 – JLL Capital Markets announced today that DRA Advisors and DLC Management have selected it to market for sale Brook Highland Plaza, a 594,466-square-foot super regional retail center anchored by an array of high-credit tenants in Birmingham, Alabama.

JLL anticipates pricing for the asset to approach or exceed $80 million.

Brook Highland Plaza is positioned on 65.9 acres at 5291 US Highway 280 within the highly sought-after US-280 retail corridor – the dominant retail and most affluent retail corridor in Alabama. Located in the highly affluent Meadowbrook submarket, the property draws from an extended trade area that includes more than 80,000 residents within a five-mile radius who earn an average annual household income of $130,743.

As one of the most dominant shopping centers in Birmingham, the 98-percent-leased Brook Highland Plaza is anchored by a best-in-class roster that includes Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Lowe’s Home Improvements, Ashley Furniture, Goodwill, ULTA Beauty, Party City, Office Max, Michaels, Five Below, Club 4 Fitness and Petco. The property benefits from an extremely diversified income stream with no single tenant accounting for more than 13 percent of the in-place rent revenue.

The JLL Retail Capital Markets Investment Sales and Advisory team representing the seller was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Associate Andrew Michols.

“Brook Highland Plaza present investors with the rare opportunity to acquire one of the most dominant retail assets throughout Alabama,” Hamilton said. “The property sits along the US-280 Corridor in the Meadowbrook submarket, one of the most heavily traveled arteries in Birmingham and the gateway to the most affluent neighborhoods in the MSA.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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