Brentwood, Tenn. — Greenberg Gibbons has acquired Cool Springs Pointe, a 198,103-square-foot retail center located in Brentwood. The property was purchased through the Greenberg Gibbons Real Estate Income Fund for $34.5 million. Tenants at the center, which was fully leased at the time of sale, include Best Buy, Ross Dress for Less, Restoration Hardware Outlet, Golf Galaxy, Old Navy and Party City.
Collierville, Tenn. — JLL Capital Markets has brokered the $12 million sale of Collierville Crossing, a 94,331-square-foot shopping center located in Collierville, roughly 30 miles outside Memphis. Academy Sports + Outdoors anchors the property, which was built in 2004. Other tenants at the center include La Hacienda, Sakura Japanese Restaurant, America’s Best Contacts and Eyeglasses, Sports Clips and Direct General Insurance. Desco Group and Affinius Capital sold the property to an entity doing business as RCG-Collierville VII LLC. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represented the seller in …
Marlborough, Mass. — BJ’s Wholesale Club, a Massachusetts-based operator of member retail warehouse locations, plans to open five new clubs in the Southeast and Indiana this fiscal year, which ends Feb. 1, 2025. The new clubs will be located in Maryville, Tennessee, a suburb of Knoxville; Myrtle Beach, South Carolina; Palm Coast and West Palm Beach in South Florida; and Carmel, Indiana, a suburb of Indianapolis. Earlier this month, the company announced its plans to open a new store near Jefferson Mall in Louisville, Kentucky. BJ’s Wholesale Club’s current portfolio comprises …
Chattanooga, Tenn. — Marcus & Millichap has brokered the $3.6 million sale of Brainerd Market Center, a 44,800-square-foot retail center located in Chattanooga. The property was 80 percent leased at the time of sale. Situated two miles from Chattanooga Metropolitan Airport, Brainerd Market Center is shadow-anchored by a Walmart Supercenter and is adjacent to East Gate Town Center. Zach Taylor of Marcus & Millichap represented the seller, an undisclosed Tennessee-based developer, in the transaction. Jody McKibben, Marcus & Millichap’s broker of record in Tennessee, assisted in closing the transaction.
East Ridge, Tenn. — Urban Story Ventures will redevelop a 160,000-square-foot retail center located in East Ridge, roughly 10 miles outside Chattanooga. The developer purchased the property — which features a 38,000-square-foot space formerly occupied by Food City, five retail outlet buildings and parking — last year. A roster of food-and-beverage, professional services and apparel retailers currently occupy a portion of the center. Plans call for a combination of renovations to existing suites, as well as new construction. Urban Story Ventures will reposition the property as a mixed-use development and plans to …
Smyrna, Tenn. — Equitable Property Co. has purchased 44 acres in Smyrna, with plans to develop a mixed-use district dubbed Sewart’s Landing. The project will comprise 250,000 square feet of ground-level retail space, in addition to two medical office buildings (MOBs) totaling 400,000 square feet; a 240-room hotel; and 75 for-sale townhomes. The groundbreaking is scheduled for next month, with completion of Phase I expected in the first quarter of 2025. Tenants at the development’s first phase will include Starbucks Coffee, Wawa and Jonathan’s Grille. Equitable acquired the land for the …
Ooltewah, Tenn. — Marcus & Millichap has brokered the $5.6 million sale of Wolftever Crossing Shopping Strip, a 12,040-square-foot shopping center located in Ooltewah, roughly 20 miles outside Chattanooga. Tenants at the property, which was built in 2017, include AT&T, Supercuts, Salsarita’s, Firehouse Subs and a standalone AFC Urgent Care. Harrison Creason and Andrew Margulies of Marcus & Millichap arranged the sale on behalf of the seller, a South Carolina-based partnership, and procured the buyer, a California-based private investor. Jody McKibben assisted in closing the transaction as the firm’s broker of …
Milan, Tenn. — Marcus & Millichap has brokered the $4.7 million sale of Marketplace at Milan, a 39,726-square-foot retail center located in Milan in western Tennessee. The property was 96 percent leased at the time of sale. Austin Sweet, Alex Perez and Chris Garavaglia of Marcus & Millichap represented the seller, an undisclosed partnership. The team also secured and represented the buyer, a private investor. Jody McKibben assisted in closing the sale as the Tennessee broker of record.
Millington, Tenn. — Quantum Real Estate Advisors has brokered the $2.3 million sale of a new single-tenant property in Millington. Whataburger will occupy the building on a ground-lease basis. The property is currently under construction. Zack Hilgendorf and Nick Hilgendorf of Quantum represented the seller, a Southeast-based developer, in the transaction.
Alcoa, Tenn. — SRS Real Estate Partners has arranged the $7.2 million sale of Alcoa Commons, a newly built retail center located in Alcoa, a city roughly 14.5 miles south of Knoxville. The property, which comprises 13,890 square feet, was fully leased at the time of sale. Tenants at the center include Orangetheory Fitness, Eyeglass World, The Joint Chiropractic and a freestanding outparcel building occupied by First Watch. Patrick Nutt and William Wamble of SRS represented the seller, a Tennessee-based developer, in the transaction. The private buyer, a Chicago-based company, purchased …
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