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New Acquisition: The Plaza – Gardendale

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PROPERTY: The Plaza – Gardendale

ADDRESS:     592 Fieldstown Road, Gardendale, AL

SIZE:               16,800 SF

BUYER:          Gardendale Plaza, LLC – an investment group lead by Shannon Waltchack, LLC

SELLER:         McAdam Properties, LLC

PRICE:            $3,137,000

This fully-leased center is anchored by Fresenius Medical (NYSE: FMS) and Rehab Associates and sits in the heart of Gardendale’s most traveled corridor.

“This property is a stabilized investment that fills a need within our portfolio as there are long-term leases in place with national credit tenants,” said Andrew Patterson, CCIM, CPM, a Principal at Shannon Waltchack. “We are bullish both on the Gardendale submarket as well as healthcare tenants.  Medical real estate is an asset class that should outperform over the next decade due to current demographic trends and the additional demand created by the Affordable Care Act.

The acquisition was financed by Aliant Bank.

ABOUT US

Shannon Waltchack is a Birmingham-based commercial real estate firm that manages a diverse portfolio of approximately 2 million SF of real estate across the Southeast.  More information can be found at www.shanwalt.com.

If you would like more information on this topic, or to schedule an interview, please contact Judy Ryan at (205) 977-9797 x 227 or emailing Judy at jr@shanwalt.com.

This property is a stabilized investment that fills a need within our portfolio as there are long-term leases in place with national credit tenants

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by Suzanne Echols
12.13.2012