✉news BusinessRetail first seen 11 h ago, last 4 h ago, peak #22
The Summit shopping center sells for $508 million
Original: The Summit sells for $508M to out of state firm
The Summit, a large retail and lifestyle center in the Birmingham, Alabama area, has been sold for $508 million to an out-of-state buyer. The deal ranks among the bigger retail property transactions in the region, drawing attention to continued investor interest in open-air shopping centers despite broader uncertainty in brick-and-mortar retail. Details on the buyer and plans for the property have not been widely reported yet.
Why now: A major local shopping center changing hands for half a billion dollars is significant news for the Birmingham area's economy and retail landscape.
Evidence
- The Summit sells for $508M to out of state firm · bhamnow.com
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