HUNTSVILLE, Ala. (WHNT) – A new management company is in place at the Bridge Street Town Center.
On Thursday, Centennial, a Dallas-based real estate investment firm, announced it had acquired Bayer Properties in Birmingham, which previously managed the Huntsville outdoor mall and handled leasing.
Under the terms of the acquisition, the combined company will take the name Centennial and retain Centennial’s headquarters in Dallas. Bayer’s Birmingham headquarters will become a regional office for the combined company.
Our two companies share a similar vision for the future of commercial real estate that will enable the combined company to provide a multitude of solutions to complex commercial projects for our clients and partners. Each of our organizations also shares similar people-oriented corporate cultures, which emerged from our first discovery meeting and was a critical factor for both companies in their decision to move forward. The combination of our two businesses gives us a stronger platform at an excellent time to capitalize on market growth.
Jami Wadkins, President and CFO of Bayer Properties
Prior to the purchase, Centennial owned and operated 15 million square feet of assets in 11 states. The addition of Bayer’s portfolio brings that total to 23 million square feet of owned/operated assets in 18 states and a combined workforce of 300 employees.
Additional regional offices will be in Chicago; Philadelphia Cream; Orange County, California; and Lexington, Kentucky.
Bayer has owned, operated and promoted outdoor retail spaces for nearly three decades; its merchandising, venue creation, design and attention to detail are exceptional, and its staff of seasoned professionals will be an incredible addition to Centennial’s experienced team and platform.
Whitney Livingston, Centennial President
A Bridge Street spokesperson confirmed to News 19 that Miller Capital Advisory, Inc. remains the mall’s owner. As a result, no major changes are expected at the open-air mall apart from the change in management.
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