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SunCap Real Estate Investments Acquires 15-Acre Development Site In Hoover For $20.74M

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SOLD
$20,740,000

Alabama

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Development Site620,000 SF
Sold 04/21/2025
the dealdetailscomps
Property Image
SOLD

SunCap Real Estate Investments Acquires 15-Acre Development Site In Hoover For $20.74M

245 Riverchase Parkway East, 255 Riverchase Parkway East, 265 Riverchase Parkway East & 2190 Parkway Lake Drive

See Similar Deals
Development Site620,000 SF
Sold 04/21/2025
the dealdetailscomps

Summary

ALABAMA
Asset Type:Development Site
Price Per Square Foot:$33
Total Square Footage:620,000 SF
Transaction Type:Sale

The transaction involved the acquisition of a 15-acre development site located at 245, 255 & 265 Riverchase Parkway East and 2190, 2192 & 2194 Parkway Lake Drive in Hoover, AL. The deal was finalized for a total of $20,740,000, equating to approximately $134 per square foot, with a total square footage of 155,000, which includes office and warehouse space across four buildings.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $20,740,000
  • Market: Hoover, AL
  • Acres: 15
  • Square Footage: 155,000
  • Price Per Square Foot: $134
  • Buyer: SunCap Real Estate Investments
  • Seller: AL Hoover Riverchase LLC

SunCap Real Estate Investments was involved in the acquisition, while AL Hoover Riverchase LLC served as the seller in this transaction. The deal reflects a strategic investment in the Riverchase Business Park.

Details

SOLD
IMAGE: 04/21/2025 ADDRESS: 245, 255 & 265 Riverchase Parkway East; 2190, 2192 & 2194 Parkway Lake Drive MARKET: Hoover, AL ASSET TYPE: Development Site ~ ACRES: 15 BUYER: SunCap Real Estate Investments SELLER: AL Hoover Riverchase LLC SALE PRICE: $20,740,000 SF: 155,000 ~ PPSF: $134 NOTE: SunCap Real Estate Investments acquired the 15-acre Riverchase Business Park in Hoover for $20.74M, which includes 155K SF of office and warehouse space across four buildings.

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