NAI Chase Commercial Real Estate Facilitates Multi-Million Dollar Sale of Lincoln Center in Huntsville, AL
Huntsville, AL – January 24, 2024 – NAI Chase Commercial, a distinguished member of the…
Birmingham, Alabama – January 30, 2024 – NAI Chase Commercial Realty, a member of the world’s premier managed network of commercial real estate firms, announced today that it signed four new leases totaling over 142,000 SF at Crestwood Festival Shopping Center on behalf of owners Citywide Properties LLC & V&S LLC Shopping Center Development. Vanessa Morris Sales & Leasing Specialist with Chase Commercial represented the Landlord. Steve Verstandig, President of City-Wide Properties, represented the lease with Fun City.
Fun City Adventure an indoor family entertainment facility signed a 15-year lease and took over the former Edge Movie Theatre. The indoor family entertainment center will have activities such as a trampoline center, Bumper car rides, Go Carts, Virtual Reality gaming, Laser Tag, bowling, roller skating, and more. Crestwood Pickers Antique Mall & Marketplace will occupy 69,082 SF when Burlington Coat Factory vacates the space at the end of February and Armor Gym – 24-hour fitness has leased 17,690 SF previously the Eplex which will also open next month. “We are very happy to welcome all of the new tenants to Crestwood Festival said Vanessa Morris, Leasing and Sales Specialist for NAI Chase Commercial.” “The Center will now be 90% leased, with solid tenants”.
Steven Verstandig, President of Citywide Properties, purchased Crestwood Center with a vision of making it a family-friendly experience. “These new tenants will offer something for all ages. The re-development will include a new façade and parking lot.” Verstandig said the company has three deals with Fun City and Crestwood will be the first site to open. “These three new tenants will transform the shopping center experience. Fun City will draw from over twenty miles away and families will come to the plaza and spend the entire day. We will have family fun, shopping, and food a great place to shop, dine, and enjoy your day,” said Verstandig.
“Vanessa Morris’s adept navigation of the retail sector exemplifies unparalleled market expertise and a proven track record of success,” said Randy Thomas, Executive Vice President of Brokerage for NAI Chase Commercial. “Her ability to secure significant leases and foster transformative developments underscores her unwavering commitment to excellence in every transaction.”
About NAI Chase Commercial
NAI Chase Commercial is recognized as one of the top full-service commercial real estate companies in Alabama, with offices in both Birmingham and Huntsville. In addition, NAI Chase Commercial is an Accredited Management Organization® (AMO®), a designation granted by the Institute of Real Estate Management in recognition of quality standards and best practices in property management and leasing services. The firm has been operating in Alabama and the Tennessee Valley since its founding in 1985. NAI Chase Commercial and its principals have over 60 years of combined real estate experience and is a leading full-service real estate organization with the ability to manage all facets of real estate transactions. Services include office, industrial, and retail leasing and sales, commercial development, property management, asset management, facilities management, investment brokerage, and construction/renovation. For more information on NAI Chase Commercial, please visit www.chasecommercial.com
About NAI Global
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices strategically located throughout North America, Latin America, Europe, Africa, and Asia Pacific, with over 5,100 local market professionals, managing more than 1.1 billion square feet of property and facilities. Annually, NAI Global completes more than $20 billion in commercial real estate transactions throughout the world.
NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. To learn more, visit www.naiglobal.com.