Huntsville, Madison retail centers sell for $10M

HUNTSVILLE — A pair of retail centers in Madison County were sold in separate transactions recently for nearly $10 million, Colliers announced.

The centers were in South Huntsville and Madison and are classified Class A unanchored, Colliers said. Executive Managing Director Joe Montgomery and Vice Presidents Henry Kushner and Scott Israel sold the properties “at a premium during an otherwise challenging time for capital markets.”

Magna Carta on South Memorial Parkway in Huntsville was sold to Pacific West Land for $4,850,000. Originally built in 2009, Magna Carta gained two more buildings in 2018. Its tenants include Results Physiotherapy, Bedzzz Express, Marco’s Pizza, T-Mobile, Great Clips and First Franklin.

Madison Corners at 1079 Balch Road in Madison sold last month for $4,900,000 to a family-based office in Montgomery, represented by Russell Realty. The tenants include Stretch Zone, Tropical Smoothie and Firehouse Subs. The center is adjacent to Madison Hospital and across from the Clift Farm mixed-use community.