Pinnacle at Tutwiler Farm

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The Colonial Pinnacle at Tutwiler Farm is a 75-acre, 248,988 square-foot, $100 million shopping center in Trussville which opened on October 11, 2006. The center was developed by Colonial Properties Trust on land previously distinguished by a rocky hillside behind and above the nearby Promenade at Tutwiler Farm, also developed by Colonial. In 2007 the property was valued at $60.7 million.

The original anchor tenants included Belk, JC Penney and Parisian (which relocated their existing stores from Century Plaza). Parisian anchored the east end and designed the two-story 100,800 square-foot location to serve as their new prototype store. During construction of the center, Belk acquired Parisian, and was obligated to operate both of their two stores at the shopping center. The anchor department store spaces are on separate parcels from the remainder of the shopping center.

In October 2013, the Trussville City Council authorized Mayor Gene Melton to purchase 2 parcels of land from the center's developer for $1.45 million. Trussville constructed a Valley Road extension between the Tutwiler Farm subdivision and Chalkville Road, connecting to the shopping center at the northeaster curve of Roosevelt Boulevard.

Later the property was acquired by an affiliate of Gregory Greenfield & Associates of Atlanta, Georgia. Two major tenants declared bankruptcy in 2015. A special servicer took over financial management of the property in 2016, and the owners defaulted on the mortgage in December of that year. Wells Fargo Bank subsequently executed a deed in lieu of foreclosure and continued to manage the shopping center, which was offered for sale in December 2019 with an asking price of $19 million. Wells Fargo eventually put the center up for auction in March 2021. A group of investors affiliated with the Dallas, Texas-based cloud services firm Active Cyber tendered the winning bid of $11.577 million. They retained JLL Birmingham as property managers and expressed an intention to invest in upgrades to attract family-friendly tenants.

Tenants

2006 logo


References

  • Tomberlin, Michael (July 28, 2006) "Colonial Pinnacle to Open Oct. 11" Business Brief. The Birmingham News
  • Tomberlin, Michael (October 11, 2006) "Trussville Pinnacle retail center has official opening." The Birmingham News
  • Lloyd, Gary (October 29, 2013) "Trussville to acquire 2 parcels of land for $1.4 million; part of Valley Road extension." Trussville Tribune
  • Thornton, William (December 12, 2019) "Trussville’s Pinnacle at Tutwiler Farm is on the market." The Birmingham News
  • Van der Bijl, Hanno (April 29, 2021) "Pinnacle at Tutwiler Farm sells to Texas investors in $11.5M deal." Birmingham Business Journal

External links