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Sprouts Farmers Market is coming to Vestavia Hills.
Franklin, Tenn.-based developer GBT Realty purchased a 3.34-acre site along U.S. 31 in Vestavia which contains two closed restaurants, Pizza Hut and Ruby Tuesday.
GBT Realty paid Alabama Power Co. $2.8 million for the property.
Walter Brown and Dan Lovell of Graham & Co. represented Alabama Power in the disposition, and Tom Hickman of GBT Realty represented the purchaser.
The developer confirmed Monday the site at 1099 Old Montgomery Highway will be the future home of the Arizona-based grocer.
This is the third confirmed Sprouts Farmers Market for the Birmingham area this year and the second that involves GBT Realty.
Sprouts announced it had signed a lease with Brook Highland Plaza in September, a store set to open in 2015.
Also in September, GBT Realty confirmed Sprouts would be the anchor tenant in the Crossings of Hoover development at the intersection of John Hawkins Parkway and I-459.
It has not been determined yet the size or the opening date of the Vestavia Hills store.
The Brook Highland location will be just over 22,000 square feet, and the Crossings at Hoover store will be 28,000 square feet.
The Vestavia development has been in the works for several months.
In May, the BBJ reported the City of Vestavia Hills would sell its former public library to America’s First Credit Union. The proceeds from that transaction are to be used to help fund a $1.6 million incentives package for GBT Realty to develop the property.
The sale of the library closed last week for $850,000.
City officials say, once developed, the site could bring as much as $500,000 per year in new sales tax revenues.
This announcement comes days after Austin, Texas-based Whole Foods Market announced it would open its first Hoover location at the site of the former Belle Foods at Riverchase Village.
[/fusion_builder_column][fusion_builder_column type=”1_1″ background_position=”left top” background_color=”” border_size=”” border_color=”” border_style=”solid” spacing=”yes” background_image=”” background_repeat=”no-repeat” padding=”” margin_top=”0px” margin_bottom=”0px” class=”” id=”” animation_type=”” animation_speed=”0.3″ animation_direction=”left” hide_on_mobile=”no” center_content=”no” min_height=”none”][ Read article at bizjournals.com][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]