CBRE Secures $15M Refinancing for Shopping Center Near Birmingham

IRONDALE, ALA. — CBRE has secured a $15 million loan to refinance Cahaba Crossing, a 67,874-square-foot shopping center located in the Birmingham suburb of Irondale. A 48,837-square-foot Publix supermarket anchors the 9.8-acre property.

Richard Henry, Mike Ryan, Brian Linnihan and JP Cordiero of CBRE secured the loan on behalf of the borrowers, Halvorsen Holdings and Ezon Inc. Carmel, Ind.-based 40|86 Advisors provided the five-year, fixed-rate, interest-only loan.

Built in 2023, Cahaba Crossing was fully leased at the time of loan closing to 10 tenants, including The UPS Store, Starbucks Coffee and Heartland Dental. Additionally, the site features a 1.5-acre outparcel reserved for future development.