From The Trussville Tribune staff reports
TRUSSVILLE — The Trussville shopping center staple, Pinnacle at Tutwiler Farm, is now up for sale.
The 248,988-square-foot lifestyle shopping center, anchored by national and regional tenants, was listed by the Transwestern Southeast Investment Services Group for $19 million.
The property, which was built in 2006, has over 1.8 million square feet of retail space that surrounds the property and is home to Best Buy, Target, Home Depot, Bed Bath & Beyond, Michaels and others. The shopping center is located near Colonial Promenade Tutwiler Farm and recent road project allows for easier access to the center. The project eased congestion by extending Valley Road and making the Pinnacle more accessible from the interstate.
According to Transwestern Southeast Investment Services Group, the Pinnacle is 84% occupied with over four years average remaining lease term. The Pinnacle draws from a 15-mile radius with a population of over 450,000. The investment group calculates that there is a potential revenue increase of $634,524 through vacant suite lease-up, which goes along with a proposed increased rental rate that would generate more income.