JLL Capital Markets announced today that it has closed the sale of Whitesburg Center, a 49,821-square-foot retail center with significant value-add potential located in Huntsville, Alabama.

JLL marketed the property on behalf of the seller, Baker Storey McDonald Properties. Last Mile Investments acquired the asset.

Built in 1990 and renovated in 2002, the center offers both national and regional tenants, including Dollar Tree, Hollywood Feed, Edible Arrangements, Baskin Robbins, Buff City Soap and Papa Murphy’s. The property presented a value-add opportunity for the new owner via the lease up of three vacant spaces and several mark-to-market opportunities.

Located at 5000 Whitesburg Dr., the center is surrounded by Huntsville’s top economic drivers, including Crestview Medical Center, Huntsville High School, and a dominant retail corridor. The center also has convenient access to US-231 (60,000 VPD), which offers connection to downtown Huntsville and the Cummings Research Park.

The JLL Retail Capital Markets Investment Sales and Advisory team that represented the seller was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Associate Andrew Michols.

“Whitesburg Center is a quintessential neighborhood center located at the epicenter of one of the most well-established retail corridors within the Huntsville MSA. The property offered the buyer upside via lease up and several mark to market opportunities,” said Buchanan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.