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February 20, 2008
Capital Growth Buchalter to Build Major Retail Center in South Tuscaloosa
Publix Super Market will anchor new Capital Market Center;
40,000 square feet of Retail Shops Planned
BIRMINGHAM, Ala., Feb. 20, 2008-- Capital Growth Buchalter, Inc. announced today it will
build a major shopping center in south Tuscaloosa that will be anchored by a Publix Super Market.
One of Capital Growth Buchalter's founders, longtime Tuscaloosa developer Mr. Robert Buchalter, is spearheading the development.
The project, Capital Market Center, is located at the corner of Highway 69 South and Southview Lane on approximately 20 acres.
The Publix Super Market will be 46,500 square feet, with an additional 40,000 square feet of retail shops and up to eight
outparcels for sale or lease.
Construction is expected to begin in the spring ('08) on the project, which is valued at more than $20 million.
"We are looking forward to bringing the highest quality grocery-anchored shopping center to support the growth in
the South Tuscaloosa area," Mr. Buchalter said.
The developer is working with a number of local, regional, and national tenants to be located at Capital Market Center.
"There is a lot of positive traction and momentum with the tenants we are currently negotiating with," he said.
Capital Growth Buchalter (CGB) is a Birmingham-based private commercial real estate developer. The company is a division
of Capital Growth Properties, Inc., a full service development, marketing, and management real estate investment company
also based in Birmingham, with additional offices in Ft. Lauderdale, Fla., and Minneapolis, Minn. Capital Growth Properties
owns, leases, manages or is developing approximately 5.5 million square feet of retail real estate across the United States.
Its portfolio includes retail, office and industrial/light industrial properties.
Services provided by CGB, previously operating as The Buchalter Co., include build to suit, retail development, remerchanting
and retenanting asset management, leasing and construction management. These properties primarily consist of retail, office warehouse,
commercial office and medical field-related developments in Alabama, Florida, Georgia, Iowa, Louisiana, Michigan, Minnesota, Mississippi,
Tennessee, Texas and Wisconsin.
The company has another project underway in Tuscaloosa: Commons North, an approximately $40 million, 50-acre mixed-use retail
development that will include retail, office, and multifamily. That project will be completed in 24-36 months.
The developer also was involved in the development of another Publix-anchored shopping center in Northport at the intersection of
Highway 82 and Highway 69.
Capital Market Center details:
- Anchor tenant: Publix Super Market, 45,600 square feet
- Retail shops: 20,000 square feet first phase; 20,000 square feet, second phase
- Parcel size: Approximately 20 acres
- Timeframe: Work will begin in spring 2008. The Publix is expected to occupy the space by the end of 2008.
- Outparcels: 8 total; four parcels fronting major highway, Highway 69 South
- Architect: Paul B. Krebs & Associates, Birmingham, AL
- Engineering Design: Gonzalez - Strength & Associates, Inc., Birmingham, AL
- Sales and Leasing for shop space and outparcels: The Shopping Center Group, LLC, Birmingham, AL. Please contact Mr. Will Akin or Mr. Matt Carlson at 205-776-6727
- Other Partners: Entitlement and construction management company for Publix deal, Mr. Scott Smith, R.S. Smith and Associates, Birmingham, AL; Mr. Scott Holcombe is Publix project coordinator
Note: Site plans and elevation available for media use
Contacts:
Tabitha J Lacy (205-939-4001, 936-8326 cell) - tabitha@harebrains.com
Chris Byrum (205-939-4001) - chris@harebrains.com
Francis Hare (205-939-4001) - francis@harebrains.com
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