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HUNTSVILLE, Ala. (WHNT) – A new management company is in place at Bridge Street Town Center.

Thursday, Centennial, a real estate investment firm based in Dallas, announced that it had acquired Birmingham’s Bayer Properties, which previously managed Huntsville’s open-air mall and handled leasing.

Under the terms of the acquisition, the combined company will take the Centennial name and retain Centennial’s Dallas headquarters. Bayer’s headquarters in Birmingham will become a regional office for the combined company.

Our two companies share a similar vision for the future of retail real estate that will allow the combined firm to provide a wealth of solutions to complicated retail projects for our clients and partners. Each of our organizations also share similar ‘people-first’ corporate cultures, something which was apparent from our first discovery meeting and a critical factor for both companies in deciding to move forward. Combining our two firms gives us a stronger platform at an excellent time to capitalize on market growth.

Jami Wadkins, Bayer Properties President and Chief Finanical Officer

Prior to the purchase, Centennial owned/operated 15 million square feet of assets across 11 states. The addition of Bayer’s portfolio brings that total to 23 million square feet of owned/operated assets across 18 states and a combined staff of 300 employees.

Additional regional offices will be in Chicago; Philadelphia; Orange County, California; and Lexington, Kentucky.

Bayer has been an owner, operator and developer of open-air retail space for almost three decades; its merchandising, placemaking, 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.

Centennial President Whitney Livingston

A spokesperson for Bridge Street confirmed to News 19 that Miller Capital Advisory, Inc. retained ownership of the mall. As a result, no major changes are expected at the open-air mall apart from the management change.