Philip Burton Of Burton Property Group Acquires 389,471 Square Foot Retail Center In Vestavia Hills For $76M
700 Montgomery Highway
$76,000,000
$195/SF
Building Size
389,471 SF
Asset Type
Retail
Closing
Jul 14, 2026
About this deal
AI
The property involved in this transaction is a retail asset located at 700 Montgomery Highway in Vestavia Hills, AL. The retail center spans 389,471 square feet and sits on 28 acres. The sale price for the asset was $76,000,000, resulting in a price per square foot of $195.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $76,000,000
- Address: 700 Montgomery Highway
- Market: Vestavia Hills, AL
- Size: 389,471 square feet
- Price per Square Foot: $195
- Buyer: Philip Burton - Burton Property Group
- Seller: KPR Centers
- Acreage: 28
Philip Burton represented the buyer in this transaction through Burton Property Group, while KPR Centers listed the property for sale, executing the transaction on July 14, 2026.
On the Map
$76,000,000
$195/SF
Retail
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Vestavia Hills 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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93