A key piece of commercial real estate near the new MidCity redevelopment in Huntsville has been sold. A Florida-based private family office acquired the Gallery Shopping Center, a 101,498-square-foot retail center, for $13.8 million. Matthews Real Estate Investment Services arranged the sale.

The property is within a half-mile of MidCity, the $350 million redevelopment of the former Madison Square Mall, one of the largest commercial real estate developments in the U.S. Jordan Powell and Scott Henard of Matthews arranged the transaction. The Gallery Shopping Center was 95 percent leased at the time of sale.

al.com