News release

Birmingham super-regional retail center sells

JLL Capital Markets arranged the sale of the grocery-anchored Brook Highland Plaza on behalf of DRA Advisors and DLC Management

August 03, 2022

Kimberly Steele

Industries, Work Dynamics and PDS PR
+1 713 852 3420

ATLANTA, August 3, 2022 – JLL Capital Markets announced today that it has closed the sale of Brook Highland Plaza, a 594,466-square-foot, super-regional retail center anchored by Sprouts Farmers Market and other high-credit tenants in Birmingham, Alabama. 

JLL marketed the property on behalf of the seller, a joint venture between DRA Advisors and DLC Management. First National Realty Partners acquired the asset.

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 presented 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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About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of June 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About DRA Advisors

DRA Advisors LLC is a New York-based registered investment advisor specializing in real estate investment management services for institutional and private investors, including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA was founded in 1986, the firm has opened additional offices in Miami and San Francisco while acquiring over $36 billion of real estate. The acquisitions include 84 million square feet of industrial, 63 million square feet of office, 83 million square feet of retail and 80,000 multifamily units. As of March 31, 2022, DRA has $12.0 billion in gross assets under management.

About DLC Management

DLC Management Corporation is one of the nation’s preeminent private retail real estate companies, with expertise in acquisitions, new developments, redevelopments, leasing, and management. Headquartered in New York, DLC has regional offices in Atlanta, Buffalo, Chicago, Dallas and Washington, D.C. For additional information about DLC Management Corporation and its portfolio, please visit  

About First National Realty Partners

Red Bank, N.J.-based First National Realty Partners is one of the fastest-growing vertically integrated commercial real estate investment firms in the United States. FNRP’s mission is to provide everyday accredited investors with access to real estate assets that traditionally have been available only to institutional investors. Specializing in grocery-anchored, necessity-based retail, the firm sources opportunities both on and off-market nationwide. From acquisition to disposition, FNRP oversees the entire investment lifecycle 100 percent in-house, leveraging top talent in legal, acquisitions, leasing, and other key areas to ensure its properties achieve maximum value and partners realize exceptional risk-adjusted returns.