Developer eyes former Hoover Winn Dixie for major redevelopment project

//Developer eyes former Hoover Winn Dixie for major redevelopment project

Developer eyes former Hoover Winn Dixie for major redevelopment project

Walter Brown of Graham & Co. is representing the seller.

A Birmingham developer has plans to redevelop an old Winn Dixie Shopping Center in Hoover.

Chris Yates of Yates Development is looking to purchase nearly 15 acres at 5201 Princeton Way from Hoover Baptist Medical Center LLC to make way for retail space.

Walter Brown of Graham & Co. is representing the seller. Jack Key at J. Key Properties LLC is providing leasing services.

As we reported, Georgia-based Stars and Strikes plans to invest $7 million in a 55,000-square-foot facility at the center that would employ more than 100 residents.

Yates said he also plans to develop adjacent vacant property for office or multifamily use.

“We are excited about this redevelopment and what it will do for the area and the city of Hoover,” he said.

Yates said he expects to close on the deal within 90 days.

According to Jefferson County Records, Hoover Baptist Medical Center LLC purchased the retail center and parking lot for $7.5 million, or about $101.48 per square foot of building space, in 2006, and it bought the adjacent vacant land for $1.375 million two years later.

Built in 1997, the 73,909-square-foot former Winn-Dixie building sits on about 10 acres and has parking spots for 412 vehicles, according to information from Graham & Co. As it is located at the intersection of John Hawkins Parkway and Interstate 459, the property has high traffic counts.

The property sits next to a Brookwood Baptist primary care center along with several banks and gas stations. On the other side of Preserve Parkway, Publix Super Market anchors the Trace Crossings Shopping Center, and across the interstate, Target anchors another large shopping center.

As we reported, the new Stadium Trace Village development at the corner of Stadium Trace Parkway and John Hawkins has added new tenants such as Super Chix and Cookie Cutters Haircuts for Kids among others.

[Read Article Here]

By |2019-09-10T09:55:01-06:00September 10th, 2019|Categories: News|0 Comments

About the Author: