Memphis, Tenn. — Arrow Retail has sold Eastgate Shopping Center, a 454,843-square-foot mixed-use property located in Memphis. Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented the seller in the transaction. An affiliate of Gulf Coast Commercial Group purchased the property for an undisclosed price.
Situated between downtown Memphis and Germantown, Eastgate comprises 388,489 square feet of retail space and 66,354 square feet of office space. Tenants include The Fresh Market, T.J. Maxx, buybuy Baby, Dollar Tree, Ross Dress for Less, Burlington, Five Below, Michaels, Rack Room Shoes, Tuesday Morning, Plato’s Closet, DXL Men’s Apparel, Firestone, Firehouse Subs and Mellow Mushroom Pizza Bakers.
Eastgate’s office component was about 50 percent leased at the time of sale to a diverse mix of tenants.