Neil Bell’s New South Outdoor continues to grow in Alabama with the acquisition of several sites in Huntsville from OMD. The addition of these locations gives New South an impressive display face count of 195 in Northeast Alabama. Marty Williamson of Williamson and Associates was the broker. Insider talked with Neil Bell about the transaction.
Neil, tell us about the transaction.
It was a purchase of 9 leases and permits. I don’t do a lot of these transactions as I typically like leasing myself, but they were in the market area where I am wanting to grow so I did my diligence and liked what I saw. I’ll slowly build them over the next year as things come back economically.
What else is going on?
I have approximately 20 other leases sitting on my desk. I am spending a lot of this down time really working on a strategy of responsible yet aggressive growth over the coming year. There are just still so many unknown factors when planning. We don’t know if things will bounce back in 6 months or even if my lenders will still be in the market to lend. We are just going to take it in a cautiously optimistic fashion knowing that I have a great team who can make things happen when we do get to adding these new units.
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