ATLANTA–The Shopping Center Group has finalized the sale of Flint Crossing, located in Meridianville, Alabama. The complex sold for $6.52 million on October 21; no additional terms were disclosed.

"Flint Crossing was on the market for less than two months until the time the offer was accepted,” T. Neal Pringle, Jr., director of investment sales and finance for The Shopping Center Group, told GlobeSt.com. “This is absolutely attributed to the continued strength and significant growth in the Huntsville MSA. Investors continue to find grocery-anchored assets in suburban secondary markets such as Flint Crossing attractive for the basic necessities they provide -- also a great draw for other shop tenants in these types of centers as well."

Pringle, who leads a Georgia investment sales team that includes directors of investment sales Mark D. Cooley and Daniel Earles, was responsible for the transactions.

Situated in a growing northern Huntsville suburban community, the 65,000-square-foot Flint Crossing is anchored by a Publix supermarket and Rite Aid, and includes an additional 9.25 acres of excess land for future development. The property, originally built in 1996, is currently 100 percent leased. Located on the “going home” side of Highway 231/431, Meridianville's busiest thoroughfare and direct route to Huntsville, the center benefits from a dense trade area that includes single- and multifamily homes. Other tenants include Mattress King, Regis Salons, Subway, Domino's Pizza, China One and Madison County Commission. The Shopping Center Group represented the seller, Flint Crossing Market Center LLC, in the transaction. Real SUB LLC purchased the property. 

“Flint Crossing features stable tenants with a historically low turnover rate,” says Pringle.  “With only one exception, the tenants have been in the center for 10 years or more.”