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Local Investor Group Lands Dothan Power Center in $33.8 Million Deal

InvenTrust Properties Completes Sale of 327,000-SF Dothan Pavilion Home to Bed Bath and Beyond, Barnes & Noble, Carmike Cinemas AMC
January 3, 2018
A dominant retail power center located near the Alabama-Florida border has traded hands in a $33.75 million deal.

Morris Realty Co., comprised of a group of local investors, paid approximately $103 per square foot to InvenTrust Properties (NYSE: IARE) for the Dothan Pavilion, a 327,423-square-foot shopping mall located along Montgomery Hwy. in Dothan, AL.

Built in 2007, the 89% leased center is anchored by Bed Bath and Beyond, Barnes & Noble, Carmike Cinemas AMC, Michaels, Ross Dress for Less and Dick’s Sporting Goods, and is shadow anchored by Target, Lowe’s and Kohl’s. Additional tenants include Moe’s Southwest Grill, Cold Stone Creamery, America’s Best Contacts & Eyeglasses, Ulta Beauty, GNC and GameStop.

Dothan Pavilion sits on an 82-acre site five miles from downtown Dothan, 16 miles north of Florida and 20 miles west of Georgia.

Jim Hamilton, Richard Reid and Barry Brown of HFF's investment advisory represented InvenTrust in negotiations.

Please see CoStar COMPS #4098197 for more information on this transaction.
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