Retail
Federal Realty Agrees to Buy Birmingham's Summit Center for $508 Million
The 870,000-square-foot Alabama open-air center is 92% occupied with more than 110 tenants, over 30 of which have no other location in the state.
DW
By Dana Whitfield
Oct 3, 2026 · 2 min read
Federal Realty Investment Trust said at 4:35 p.m. Eastern on Oct. 1 that it is acquiring The Summit, an open-air retail center in Hoover, Alabama, outside Birmingham, for $508 million, or $498 million on a net basis.
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Dana Whitfield
Leadership Editor
Dana reports on boards, succession and executive pay. She has interviewed more than 200 sitting chief executives.