For Sale Contact for pricing
Property Type Retail
Property Size 106,795 SF
Lot Size 12.43 SF
Year Built 1971
Date Updated Apr 26, 2024

Colliers Southeast Retail Investment Sales team is pleased to offer to qualified investors the opportunity to acquire Crestwood Shopping Center in Hartselle, AL. Anchored by Kroger, a tenant in successful operation since 1979, the subject property features a unique opportunity to acquire a low price point, grocery-anchored center within the Huntsville MSA. Kroger boasts over $700 PSF in sales, showing their tremendous success at this location. Other than Walmart to the north, Kroger has limited grocery competition from national retailers within Hartselle. The next closest Kroger and Publix stores are 8 miles north in Decatur. Kroger also includes a Fuel Station, which was built in 2017 / 2018, showing Kroger’s further investment in this location.

Additionally, Crestwood benefits from a strong and synergistic tenant mix. Habor Freight executed a ten-year lease in 2020. Pet Supplies Plus, formerly Pet Depot, has a well-established track record of over ten years. The remaining tenants are e-commerce resistant and successfully serve the demand of the local consumer. Furthermore, Crestwood Shopping Center is currently 84% occupied, allowing the potential to increase NOI through the lease-up of the vacant spaces.

Strategically placed off I-65, Crestwood Shopping Center features a “center of town” site. The subject sits off the intersection of Highway 31 and 36, i.e. Main Street. Furthermore, this center benefits from strong combined traffic counts of approximately 38,000 VPD. The three-mile average household income is $88,000±. Immediate surrounding retailers include but are not limited to Planet Fitness, Tractor Supply, Farmer’s Home Furniture, Walgreens, and many others. Additionally, the subject property pulls from a wide trade area of 20± miles (source: Credit Intel).

Hartselle sits about forty minutes south of Huntsville, one of the fastest-growing cities in the nation. Located in Morgan County, more than 144 diverse industries, including 11 Fortune 500 Companies, call this county home. The county has consistently led the state of Alabama in capital investment in new and expanding industries. As Huntsville expands, surrounding markets such as Hartselle benefit. Hartselle is a charming, historic North Alabama town. The subject property has been a staple of the community for decades.