3421-3435 South Shades Crest Rd • Hoover, AL 35244

Year Purchased: 2021
Purchase Amount: $4,353,000.00
Equity: $2,095,000.00

South Shades Crest Station was purchased in August 2021 and is a 25,500 square foot multi-tenant retail center located in Hoover, Alabama (part of the Birmingham MSA). Built in 2002, the property was 95% leased at the time of closing to a strong group of twelve largely e-commerce resistant tenants. With a diverse tenant base, below market rents, and weighted average tenant tenure of over 3 years, South Shades offered our investors the prospect of current cash flow stability combined with upside from future leasing and planned rent increases.