We are pleased to announce the acquisition of Inverness Corners in Alabama, anchored by a 242,000 square-foot asset marks our third grocery-anchored shopping center acquisition in Alabama. Inverness Corners is anchored by a 54,000-square-foot Winn Dixie and a 92,600-square-foot Kohls. Winn Dixie has been a tenant since 2013 and is a subsidiary of Southeastern Grocers, which owns and operates over 520 locations.
The market-dominant grocer plans to invest over $1 million in an interior store renovation that will include more grocery pickup capabilities. The center’s tenant mix includes Orange Theory, Mellow Mushroom, Tropical Café, Wing Stop, H&R Block and Enterprise.
Inverness Corners sits at a signalized intersection along Route 280, the region’s dominant east-west thoroughfare, which sees combined daily traffic counts of over 106,000 vehicles. A growing population of over 91,000 with an average household income of $152,000 lives within a five-mile radius of the center.
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