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Buchalter, Sharp sell Northport shopping center to Atlanta firm

As appeared in | January 18, 2006

Robert Buchalter of the Buchalter Companies Inc. and Sam Sharp of Sharp Realty & Management LLC announced Wednesday they have sold Northwood Crossings Shopping Center in Northport to Inland Real Estate Acquisitions Inc. of Atlanta.

They did not disclose terms of the deal.

A redeveloped center that includes a new Publix Supermarket and Office Depot, Northwood Crossings is located at U.S. Highway 69 and McFarland Boulevard.

The deal was co-brokered by Michael Randman of Southpace Properties Inc. and Jesse Shannon of Atlanta-based Easlan Capital.

Buchalter and Sharp bought the 200,000-square-foot center in 2002 and renovated it in 2004. Besides Publix and Office Depot, tenants include a Wachovia bank, McDonald’s, Dollar General, Sally Beauty Supply and Family Dollar.

This isn’t the pair’s first Northport venture. Buchalter and Sharp on Nov. 1, 2005, bought Kmart-anchored Northport Corners Shopping Center from Atlanta-based The Gipson Co. That center is across McFarland Boulevard from Northwood Crossings.

The Buchalter Companies is headquartered in Tuscaloosa and has a Birmingham office. Sharp Realty is based in Birmingham.

Both are full-service real estate firms that own, lease, develop and manage retail and office properties throughout the country.

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