Big Springs Village
Value-Add, Walmart Shadow Center in Fast-Growing Huntsville MSA
Marketing description
Colliers is pleased to present Big Springs Village, a ±125,100 square-foot, Walmart shadow center located at 11655 US Highway 431, Guntersville, Alabama (Huntsville MSA). The property is situated directly adjacent to a high-volume Walmart Supercenter on one of the most heavily trafficked retail corridors with traffic counts exceeding ±30,000 VPD. The center benefits from a deep lineup of national and regional tenants, including Belk, Dollar General, Cici's Pizza, Shoe Show, Cato, Cricket Wireless, Lendmark Financial, and others, creating a diverse, need-based tenancy that drives consistent daily traffic.
The property presents a compelling value-add investment thesis. Belk recently exercised its option to extend its lease for an additional five (5) years, reaffirming its long-term commitment to this location. Four current vacancies, totaling approximately 11,125 square feet represent a direct opportunity to increase in-place NOI through lease-up. In-place rents across the center are meaningfully below market, providing an investor with substantial embedded upside at each lease rollover. According to Placer.ai data, the adjacent Walmart Supercenter generates approximately 2.3 million visits per year, and Big Springs Village is the third most-visited co-destination for Walmart shoppers, underscoring the extraordinary traffic synergy enjoyed by the subject property.
Guntersville, AL, located 45-minutes from Huntsville, is a fast-growing community headlined by Lake Guntersville, the largest lake in Alabama. Many residents of Huntsville have or are moving to Guntersville to enjoy the lake and recreation that Guntersville offers. Guntersville is growing at a rate of 1.73% annually. Guntersville is experiencing population and job growth, with recent announcements such as a new 540,000 square foot automation-based facility, a Target anchored development in Albertville, and many others.
Investment highlights
WALMART SHADOW CENTER — UNPARALLELED TRAFFIC DRIVER
• Big Springs Village sits immediately adjacent to a Walmart Supercenter. According to Placer.ai, the neighboring Walmart recorded approximately 2.3 million visits over the trailing twelve months — equating to roughly 6,300 customer visits per day. Big Springs Village is the #3 favorite co-destination among Walmart shoppers in the trade
area, with 37.7% of Walmart visitors also patronizing the subject center.
BELOW-MARKET RENTS CREATE EMBEDDED UPSIDE AT EVERY ROLLOVER
HUNTSVILLE MSA, ONE OF THE NATION'S FASTEST GROWING MARKETS
- Average Household Income within the 3-miles of the subject property is $93,298
- Huntsville Posted a 2.6% population growth rate in 2025, ranking among the six fastest growing cities nationally, averaging approximately 11,000 new residents annually
- Huntsville MSA is home to over 1.2 million people and ranks as the 15th-fastest growing MSAs nationally
BELK ANCHOR EXERCISES OPTION — REAFFIRMS 5-YEAR COMMITMENT
• Belk, with over 290 locations, recently exercised its lease option at Big Springs Village, extending its tenancy through 2030. Occupying 58,344 square feet on a Ground Lease, Belk’s Ground Rent is well-below market, presenting an opportunity to acquire an asset on a low basis.
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