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Publix-anchored Flint Crossing shopping center in Meridianville sells for $6.5 million

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An aerial photo of Flint Crossing in Meridianville, Ala. (Contributed photo)

Lucy Berry | lberry@al.comBy Lucy Berry | 
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on December 02, 2014 at 4:32 PM, updated December 03, 2014 at 4:52 PM

MERIDIANVILLE, Alabama – A 65,000-square-foot retail center in Meridianville is under new ownership after The Shopping Center Group closed on the property in late October.

The 18-year-old Flint Crossing property on Highway 231/431 was sold Oct. 21 to Lakeland, Fla.-based Real SUB, LLC for $6.5 million. The Shopping Center Group, which represented seller Flint Crossing Market Center, LLC, said the deal marks one of two closed transactions totaling more than $10 million in Madison County and Marietta, Ga.

Flint Crossing is anchored by Rite Aid and Publix, and located on Meridianville’s busiest thoroughfare. Although at full capacity, the project includes about 9.25 acres of additional land for future expansion.

“Flint Crossing features stable tenants with a historically low turnover rate,” Shopping Center Group Director of Investment Sales and Finance T. Neal Pringle, Jr., said in an announcement. “With only one exception, the tenants have been in the center for 10 years or more.”

Mattress King, Regis Salons, Subway, Domino’s Pizza, China One and the Madison County Commission are tenants at Flint Crossing.

The Shopping Center Group also recently closed on The Shoppes at Due West Pavilion for a trade value of $3.32 million in metropolitan Atlanta. The 18,200-square-foot, unanchored development was built in 2006 and is about 92-percent leased.

The largest privately-owned real estate advisory firm in the eastern U.S. declined to disclose additional terms. Pringle handled both transactions.

Flint Crossing had been on the market since August. Property changes are not planned at this time.

Updated at 4:52 p.m. Dec. 3 with additional details about the buyer, sale and property changes.

Original article appeared here.

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