As we reflect on 2017, we decided to review the year’s portfolio acquisitions. We currently own, lease and manage 80+ commercial properties, which range from retail to office, medical and industrial throughout Birmingham and across the Southeast. Our firm studies the real estate cycle carefully, buying and selling properties based on current positioning in the cycle. 2017 was a year of steady growth for our firm, adding six diverse properties to the SW portfolio.
We purchased this retail center located along Alabaster’s growing “Medical Mile” corridor on Highway 31 near the Shelby Baptist Medical Center, the only hospital in Shelby County.
Morgan Village is a 32,988 SF neighborhood shopping center with a high traffic count and visibility from I-459. The property is minutes from Bessemer, McCalla and Helena. We purchased this asset by buying it out of foreclosure from a regional bank. Part of the terms included the bank to issue a new loan on the assets, and a quick closing.
McAdory Plaza is an 11,000 SF neighborhood shopping center, located in the thriving McCalla submarket, with a high traffic count and visibility from I-459. We purchased this asset from a regional bank, and it is currently 100% leased.
Iron Tribe portfolio (2)
In late 2017, a three-building portfolio of exercise facilities became available for purchase. We simultaneously bought three and sold one, retaining the properties in Homewood and Crestline Village. The 5,339 SF building in Homewood is located in the heartbeat of a thriving community. The 2,480 SF building in Crestline is located on Dexter Avenue.
This 9,600 SF freestanding building is located in the highly-coveted village of Crestline in Mountain Brook. The building features two separate units, a restaurant, and office space in the rear.
“We are excited about our 2017 acquisitions and their addition to our portfolio,” said Managing Partner Andrew Patterson. “As we enter the new year, we are ready to embrace some exciting projects. The future of Shannon Waltchack is bright, and we look forward to the evolution of our portfolio in 2018!” Patterson said.