Newmark arranges $508 million sale of Summit lifestyle center in Alabama to Federal Realty
FRT•JDJ sold The Summit, an 870,000-square-foot mixed-use lifestyle center in Birmingham, Alabama, to Federal Realty for $508 million; the property was about 95% leased at closing.
1. Sale details
Newmark arranged JDJ’s $508 million sale of The Summit to Federal Realty. The 870,000-square-foot mixed-use lifestyle center in Birmingham was about 95% leased at closing, and the transaction was Alabama’s largest single-property commercial real estate sale by purchase price.
