From The Trussville Tribune staff reports
TRUSSVILLE — A popular entertainment destination in Trussville has been sold to a New Jersey investment fund for $10,000,000.
According to The Birmingham Business Journal, Spare Time, which was owned by a Vermont based bowling alley chain, sold the property in a sales-leaseback transaction.
The journal said that the buyer is SCF RC Funding IV LLC. The purchaser of Spare Time is registered to a real estate investment trust company called Essential Properties Realty Trust Inc. The trust company is based out of Princeton, New Jersey.
Spare Time has been a popular location since it was built in 2003. It is in a prime location situated near the Tutwiler Pinnacle.
Trussville has experienced significant growth in the area of real estate over the past few years, according to The Birmingham Business Journal.