Halpern Enterprises, Inc. announces the expansion of its retail portfolio with the acquisition of Heritage Square, a 60,767-square-foot shopping center at 7696 Hwy 72 NW in Madison, Alabama. Halpern owns, manages, and leases more than 50 retail centers across the Southeast, totaling more than 3.7 million square feet. The TJ Maxx-anchored property is the firm’s second acquisition in Alabama.
“This investment is consistent with Halpern’s strategy to acquire stabilized, high-performing properties in dense trade areas,” said Halpern Acquisitions Manager Scott Jackson. “With 100% occupancy, a strong national anchor and an exceptional position at the center of Huntsville’s market growth, we’re confident in Heritage Square’s long-term potential.”
Built in 2008, Heritage Square is anchored by a 28,000-square-foot TJ Maxx and features a healthy mix of national shop tenants. The 100%-occupied shopping center enjoys prominent positioning along Highway 72’s heavily trafficked corridor, which averages 51,669 vehicles per day and provides direct access to downtown Huntsville. The Huntsville MSA is a growing and affluent region, encompassing 1.3M residents with an average household income of more than $138,000.
Franklin Street represented the seller, Fairway Investments, in the transaction.
ABOUT HALPERN ENTERPRISES
Halpern Enterprises is a privately held commercial real estate firm specializing in retail leasing, management, acquisitions and development. For more than 60 years, our collaborative, hands-on approach has created value for hundreds of tenants and resulted in the long-term success of our shopping centers. Headquartered in Atlanta, Halpern owns and operates more than 50 properties, totaling more than 3.7 million square feet, in Alabama, Georgia, North Carolina, South Carolina and Tennessee. For more information, visit www.halpernent.com.