#USA #Huntsville #Hunnington Center #Legacy Commercial

Legacy Commercial Property Expands Retail Footprint

Legacy Commercial Property, a prominent name in retail real estate, has made a significant move by acquiring the Hunnington Center located in Huntsville, Alabama. This acquisition marks an important step for the company, enabling it to penetrate one of Alabama's most dynamic markets.

An Overview of the Hunnington Center

The Hunnington Center is a noteworthy retail plaza offering over 55,000 square feet of prime retail space, strategically located on Memorial Parkway SW. This area is one of the busiest thoroughfares, with more than 29,000 vehicles passing daily. Surrounded by leading retail outlets such as Lowe's, Home Depot, Sam's Club, and Publix, the plaza is poised to attract even more local and national retailers looking to tap into this growing market.

According to Ben Hoogland, Vice President of Legacy Commercial Property, “Huntsville continues to emerge as a national hub for technology, aerospace, and innovation.” This aligns perfectly with the vision for Hunnington Center, which is set to cater not only to residents but also to the influx of professionals drawn by industry growth and job opportunities.

Renovation Plans and Future Prospects

In an effort to enhance the appeal of the Hunnington Center, Legacy has outlined ambitious plans for renovations. These upgrades will include a new facade, roof, signage, and improved parking facilities. Such renovations are crucial, particularly in a city where retail vacancy rates are notably low, spurred by a remarkable 15% population growth since 2020—a rate that far exceeds the national average.

The property will feature 10 flexibly sized units ready for immediate leasing, along with 36,000 square feet of additional space aimed at accommodating various retail businesses. According to Brent Conley, Senior Director of Acquisitions and Development, the company is committed to delivering exceptional support to its tenants, reflecting their fourth-generation family-owned values in providing reliable real estate solutions.

Understanding Legacy's Operations

With a portfolio that includes over 700 properties across 22 states, Legacy Commercial Property has established itself as a market leader in convenience retail. Their vertically integrated approach to real estate—spanning acquisition, development, and management—has contributed to their successful operations in a competitive environment. This streamlined model not only fosters efficiency but also enables Legacy to maintain a consistent quality across all of its properties.

In a landscape where flexibility and responsiveness are paramount, Legacy promises a robust partnership for tenants. Their extensive experience allows them to identify and nurture value, particularly within the sunbelt regions, thus making the Hunnington Center a prime example of their commitment to long-term success.

Opportunities for Businesses

As the Hunnington Center begins to welcome tenants, local businesses and retailers should consider this opportunity to establish themselves within one of Alabama's fastest-growing markets. Interested parties can reach out to Legacy's Nashville-based leasing team for an in-depth understanding of available spaces and leasing terms. The current retail dynamics in Huntsville represent a unique chance for new and expanding businesses to gain a foothold in an evolving market.

Overall, Legacy Commercial Property's commitment to enhancing the retail landscape in Huntsville through the acquisition of the Hunnington Center is a promising development for the community and businesses alike. As Huntsville continues to transform into a hub of activity, Legacy's strategic expansion is set to play a vital role in supporting its growth trajectory.