Wednesday, September 29, 2010
Cohen Commercial Properties Announces the Acquisition of Former McRae's Department Store in Birmingham, AL
The non-contingent contract had a firm closing date of 30 days from contract signing and American Commercial Properties closed with cash.
The former McRae's (a division of Saks) is a 64,000 square feet free standing building with two floors of retail. The store is located in Roebuck Marketplace (middle right photo) in a 167,140 square foot community shopping center shadow anchored by Super Wal-Mart.
Formerly anchored by Winn Dixie and Goody's, the center has been re-tenanted by Cititrends, It's Fashion Metro, and Rainbow Shops.
In addition, a full redevelopment is planned for the shopping center including the addition of several outparcels in addition to the renovation of the former McRae's.
Cohen Commercial Properties has owned the Roebuck Marketplace shopping center since 2004 and has been actively repositioning the property with the continual growth spurred by the Super Wal-Mart traffic to the area.
Cohen Commercial Properties, with its affiliates, Cohen Asset Advisory, LLC and American Commercial Realty Corp., own and operate properties throughout the United States.
For further information, please contact
Arun Singh, Acquisitions Director, 212.803.5781, firstname.lastname@example.org