As appeared in bizjournals.com | 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.