Wildwood Centre shopping mall goes up for sale

The Wildwood Centre strip mall, which includes Hobby Lobby, OfficeMax and a Sears Outlet, is currently up for sale. The mall is located at 247-265 Lakeshore Parkway, adjacent to Wal-Mart and Sam’s Club.

Graham & Company broker Matt Rowan, who is handling the sale with fellow broker Dan Lovell, said a price has not been listed on the 225,900-square-foot property but a call for offers will be made “in the near future.”

According to an executive summary Rowan provided, the sale includes approximately 53 acres of land, including 17.5 undeveloped acres west of the OfficeMax that have future development possibilities. Wildwood Centre was built in 1991 and is currently at 83 percent of its leasing capacity.

Hobby Lobby is the largest retailer in the complex, leasing 58,900 square feet, and the summary states that over half of Wildwood Centre’s retailers have leased there for 12 years or more. The sale does not include the nearby Taco Bell, Chick-fil-A or Goodyear Tire retailers.

The western, undeveloped portion of the property is located in the City of Birmingham and zoned B-2 Business District, while the eastern portion is in Homewood and zoned for Planned Mixed-Use Development. Rowan said he’s already seen prospective buyers for the property.

“There’s been a fair amount of interest in it,” Rowan said.