Newmark Arranges $508M Sale of The Summit, Alabama's Largest Single-Property Deal

PR Newswire·6 Oct 2026·

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Corporate Action Real Estate Management & Development

NMRK ▲

Summary · why it matters

Newmark Group has arranged the $508 million sale of The Summit, an 870,000-square-foot mixed-use lifestyle destination in Birmingham, Alabama, marking the largest single-property commercial real estate transaction in Alabama history by purchase price. Newmark President and Head of Retail Capital Markets for North America Conor Lalor represented JDJ, a privately-owned retail investor, in the sale of the asset to Federal Realty. Located at the intersection of Interstate 459 and U.S. Route 280, The Summit features more than 110 retailers, restaurants and entertainment concepts, including Trader Joe's, Apple, lululemon, Restoration Hardware, Nordstrom Rack and Alo Yoga. At the time of sale, the property was approximately 95% leased and experiencing strong leasing momentum, with recent commitments from retailers including Vuori, Reformation, Arizona, Alo Yoga, LoveShackFancy and Brandy Melville. More than 40 retailers operate their only Birmingham-area location at the property, while approximately 30 brands maintain their only Alabama location at the center.

Newmark Group Inc ▲