The Beach Company Sells 2 Acres to Food City Parent Company in Huntsville, Ala
The Beach Company, a leader in residential and commercial real estate brokerage, development, and property management, announced its sale of two acres of land to Marathon Realty Corp., a wholly owned real estate subsidiary of K-VA-T Food Stores Inc., parent company of Food City.
The property is located in the Stovehouse District, ideally situated between The Foundry and The Range and STOVEHOUSE. The Foundry is a recently completed 342-unit mixed-use multifamily and townhouse development that is currently leasing residences, and STOVEHOUSE is Huntsville’s largest carefully curated work, eat, play, drink and event complex. The proposed grocery store will be connected to these established communities via a 10-foot-wide pedestrian sidewalk along Governors Drive as well as an internal cross access connections.
“We are looking forward to this addition as it will successfully complete our master development and vision for the Stovehouse District,” says Bill Metzger, director of asset management at The Beach Company. “We are confident that the new grocery store will serve as a walkable amenity and valued hub for The Foundry’s residents and Range office tenants, as well as STOVEHOUSE patrons and local Huntsvilleians.”
In 2023, Marathon entered into a development agreement with the City of Huntsville to develop six new Food City stores in the greater Huntsville market over the coming years. This full service location will be part of its initial phase-I rollout.
The development is estimated to break ground in Q2 2024 with a projected early 2025 opening. More information on the new grocery store development will be forthecoming, in conjunction with a formal groundbreaking event.