The News Courier in Athens, Alabama

January 24, 2013

Madison shopping center 70 percent leased

From staff reports
The News Courier

— The new shopping development called Madison Corners on U.S. 72 is now 70 percent filled.

GBT Realty Corp., a national retail real-estate development company, said the tenants at the 12.86-acre property — located at 72 and Balch Road — include Hibachi Express and La Belle Nail Salon join Firehouse Subs and LawLer’s Barbecue in the first phase of the multi-tenant building. Four additional, 1,600-square-foot spaces remain available. Firehouse Subs is currently open for business and LawLer’s Barbecue will open in the coming weeks.

The company has also closed on the sale of out parcels to BB&T bank and I Love Sushi, a local restaurant with one other location in Huntsville. Both are under construction and expected to be completed this summer.

A remaining 3.12-acre parcel is still available, which could accommodate many uses including office space or a hotel.

The sale of a 3.49-acre parcel has been sold to Triad Properties Corp. for the construction of a planned 60,000-square-foot, Class A, medical office building.

“At 70 percent leased, we are pleased that Madison Corners is bringing a good mix of retailers and medical-related businesses to serve the local market and those who work at or visit Madison Hospital,” said Fraser Schaufele, vice president of leasing for GBT. “And being located near the Target-anchored Shoppes of Madison makes this property particularly appealing to potential tenants.”

A second phase multi-tenant retail building is also to be developed containing 7,200 square feet. This addition is expected to start in spring.