Wheeler REIT buys first property in Alabama
Virginia Beach-based Wheeler Real Estate Investment Trust Inc. has completed its acquisition of Alex City Marketplace in Alexander City, Ala. for about $10.25 million.
The 147,791-square-foot shopping center is the company’s first in Alabama.
The property was built in 1995, and was renovated in 2001. Anchored by a Winn-Dixie supermarket, the shopping center is 98.3 percent leased to tenants such as Dollar Tree, Goody’s, Domino’s Pizza, Verizon Wireless, Advance America, Subway and Cato Fashion.
Alexander City, a city in Tallapoosa County, Ala., has a population of about 14,875.