Madison, Tenn. — JLL has brokered the $9.8 million sale of Rivergate Square, an 81,935-square-foot shopping center located at 1584 Gallatin Pike North in Madison, a suburb of Nashville. Jim Hamilton and Brad Buchanan of JLL represented the seller, Albanese Cormier, in the transaction. The buyer was not disclosed. Rivergate Square was fully leased at the time of sale to tenants including Dollar General, Office Depot, dd’s Discounts and Jimmy John’s.
White House, Tenn. — The Sembler Co. has completed the development of White House Shops, a 75,000-square-foot shopping center located in White House, roughly 20 miles north of Nashville. A 48,387-square-foot Publix anchors the property, which was 88 percent leased at the time of opening. Other tenants at the center include Noire The Nail Bar, East Nashville Aesthetic Dentistry, Teriyaki Madness, Miso Bowl, Wingstop and The UPS Store. Woody Widenhofer of Colliers is managing leasing at the property.
Atlanta — CBRE has arranged a $171.4 million loan for the refinancing of an eight-property portfolio of grocery-anchored shopping centers in the Southeast. Comprising roughly 1.2 million square feet, the portfolio was 96.6 percent leased at the time of financing to 194 tenants including Kroger, Publix and Whole Foods Market. PGIM provided the financing to the borrowers, Branch Properties and Corebridge Real Estate Investors (formerly AIG Global Real Estate). Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE arranged the loan, which was used to refinance the existing mortgages …
Mount Juliet, Tenn. — GBT Realty Corp. and Robinson Properties have announced plans for Everett Downs, a mixed-use development to be located in Mount Juliet, roughly 20 miles east of Nashville. GBT will develop the retail portion of the project, which will comprise a 41,255-square-foot retail center. A 23,256-square-foot Sprouts Farmers Market will anchor the center, which will also feature approximately 18,000 square feet of small shop and outparcel space. Completion of the retail center, which is currently 75 percent preleased, is scheduled for October 2025. Robinson Properties will develop Phase …
Memphis, Tenn. — The Shopping Center Group (TSCG) has negotiated the sale of Houston Levee Galleria, a 65,900-square-foot retail center in Memphis. Built in 2006, the property was 94 percent leased at the time of sale. Anthony Blanco and Lynn De Marco of TSCG represented the seller, a limited liability company, in the transaction.
Memphis, Tenn. — Poag Development Group has purchased a 400,000-square-foot store situated within Oak Court Mall, an enclosed regional mall in Memphis originally opened in 1988. Macy’s occupies the space and sold the property in a sale-leaseback transaction. Poag acquired the department store for $7 million in a joint venture with a group of local investors that purchased the other portions of Oak Court Mall in December 2023. Poag plans to work with JLL to maximize the potential of Oak Court Mall.
Cordova, Tenn. — Bojangles has broken ground on a new restaurant property situated on an outparcel within Market at Cordova Shopping Center in Cordova. Completion of the development is scheduled for early 2025. John Reed and Hurston Reed of The Shopping Center Group (TSCG) negotiated the lease between Bojangles and the outparcel owner, The Life Church. A 55,000-square-foot Grand Super Market anchors Market at Cordova Shopping Center, which N&L Holdings acquired this past July.
Mill Valley, Calif. — Four Corners Property Trust (FCPT) has purchased 20 restaurant properties occupied by Bloomin’ Brands concepts for $66.4 million dollars. Located in Arizona, Florida, Georgia, Kentucky, Louisiana, North Carolina, Nevada, Pennsylvania, South Carolina and Tennessee, the portfolio includes 10 Outback Steakhouse restaurants and 10 Carrabba’s Italian Grill restaurants, with one dual-tenant property occupied by both concepts. The properties are leased to corporate Bloomin’ Brands entities on two master leases. This transaction makes Bloomin’ Brands the third largest tenant for FCPT, accounting for 3.3 percent of cash rent for …
Collierville, Tenn. — RealSource Group has arranged the sale-leaseback of a 34,000-square-foot single-tenant retail property located in Collierville, roughly 30 miles southeast of Memphis. LA Fitness occupies the property, which was built in 2019. Ted Slaughter and Jonathan Schiffer of RealSource, in association with Scott Reid of ParaSell Inc., represented the seller, Fitness International, in the transaction. A private investor acquired the property for an undisclosed price. LA Fitness will continue to occupy the building on a 15-year net lease.
Elizabethton and Lafollette, Tenn. — Matthews Real Estate Investment Services has arranged the portfolio sale of two Tennessee shopping centers: Elk Crossing in Elizabethton and Cumberland Crossing in Lafollette. Kyle Stonis, Pierce Mayson and Boris Shilkrot of Matthews represented the seller, Big V Property Group, in the transaction. An entity doing business as Vishal 1 LLC purchased the portfolio for an undisclosed price. Together, the properties total 170,900 square feet and were 99.4 percent leased at the time of sale. Tenants at Elk Crossing include Ross Dress for Less, United Grocery …
