Branch buys its first Alabama centers

Branch Properties, which owns 24 retail centers and restaurant parks in the Southeast, made its first foray into Alabama with the purchase of two Birmingham properties from Bayer and a silent partner.



The Atlanta-based Branch gets Inverness Corners, a 236,444-sq.-ft. center anchored by Winn-Dixie and Kohl’s, and Inverness Plaza a 74,818-sq.-ft property that houses Alabama’s only PGA Super Store. The deal was brokered by JLL.



“There was significant interest in the properties because of their location along Alabama’s affluent Route 280 corridor, where average household incomes top $130,000 per year,” said JLL managing director Margaret Caldwell.



Prior to this purchase, Branch’s property portfolio resided exclusively in Georgia, Florida, Tennessee, and North Carolina.

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