Huntsville, Ala. -- Birmingham, Ala.-based Bayer Properties said it has been engaged by Institutional Mall Investors to oversee management of Bridge Street Town Centre, a mixed-use outdoor fashion center in Huntsville, Ala. IMI’s assets now represent 2 million sq. ft. of Bayer’s 12 million-sq.-ft. owned and managed portfolio.
Located in the heart of Cummings Research Park, one of the largest research parks in the U.S., the 600,000-sq.-ft. Bridge Street Town Centre features over 70 specialty shops and restaurants as well as a 14-screen Monaco Pictures. Non-retail components of the mixed use project (owned by others) include a 210-room Westin Hotel as well as a 144,000-sq.-ft. office building.
An additional 220,000 sq. ft. of specialty retail, department store and restaurant space is planned to open in the fall of 2014, with construction starting this spring. This new development phase will be anchored by a 170,000-sq.-ft., two-story flagship Belk department store.