JLL Income Property Trust Acquires Midtown Village Retail Center In Tuscaloosa For $94 Million
1800 Mcfarland Boulevard East
$94,000,000
$272/SF
Building Size
345,000 SF
Asset Type
Retail
Closing
Aug 27, 2026
About this deal
AI
JLL Income Property Trust acquired a retail asset located at 1800 McFarland Boulevard East in Tuscaloosa, Alabama. The transaction was valued at approximately $94 million, encompassing 345,000 square feet of space at a price per square foot of $272.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $94,000,000
- Address: 1800 McFarland Boulevard East
- Market: Tuscaloosa, AL
- Square Footage: 345,000
- Price per Square Foot: $272
- Buyer: JLL Income Property Trust
The acquisition involved a shopping center known as Midtown Village, which has 16+ years of weighted average lease term and garners more than 5.7 million annual visits. The tenant mix includes necessity retailers, enhancing JLL’s grocery-anchored and necessity-driven retail portfolio.
On the Map
$94,000,000
$272/SF
Retail
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Players
Tuscaloosa Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93