Old Jefferson Highway retail center sold for $4M
Editor’s note: This story has been changed since original publication to reflect the correct location of the shopping center. Daily Report regrets the error.
The Willowbrook Shopping Center at the corner of Old Jefferson Highway and Hoo Shoo Too Road has been sold for $4 million, according to sales documents.
Ryan Jumonville, who founded United Networks of America, a nationwide medical discount network, bought the center through Willowbrook Holdings LLC. The seller was developer Mike Kimble, through Willowbrook Center LLC. The property will be owned and operated through Derbyshire Group, a Florida-based business and real estate holding company owned by Jumonville.
Jumonville says he was interested in the property because he likes the part of town its located in and expects the area to grow. The property will serve as a long-term investment hold for Derbyshire Group, says Jumonville.
The group owns properties in Alabama, Mississippi, Florida and Louisiana.
The 21,000-square-foot center was built in 2015 by Kimble Development for $2.4 million, according to building permits.
Jumonville says only one of nine tenant spaces is currently vacant.