Multi-anchor power center in the Birmingham MSA sells

ATLANTA, May 6, 2021 – JLL Capital Markets announced today that it has closed the sale of Pinnacle at Tutwiler Farm, a 248,988-square-foot regional retail center in Trussville, Alabama, one of the fastest-growing submarkets in the Birmingham MSA.

JLL marketed the property in coordination with Ten-X on behalf of the seller, Credit Suisse First Boston Mortgage Securities Corp., Commercial Mortgage Pass-Through Certificates, Series 2007-C1. A private investor based out of Texas acquired the asset.

The property is at 5006 Pinnacle Square in a well-established retail node with more than 8.4 million square feet of retail space within a five-mile radius that attracts more 24 million visitors per year. The center was 75% leased at the time of sale and boasts a well-tenured mix of national and regional tenants, including anchors Best Buy and At Home.

The JLL Retail Capital Markets team that represented the seller was led by Senior Director Brad Buchanan, Senior Managing Directors Jim Hamilton and Will Sledge, Managing Director Tom Hall and Associate Taylor Callaway.

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 sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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