Tennessee

Poag Shopping Centers Signs 14 New Tenants Across Retail Portfolio

by Katie Sloan May 23, 2022

Memphis, Tenn. — Poag Shopping Centers has signed 14 new tenants to properties across its retail portfolio. New tenants include Mayweather Boxing + Fitness, 9292 Korean BBQ and OVME at The Avenue Peachtree City in Peachtree City, Georgia; Nothing Bundt Cakes at The Avenue Viera in Melbourne, Florida; Sola Salon Studios at The Avenue West Cobb in Marietta, Georgia; LensCrafters at Deer Park Town Center in Deer Park, Illinois; The Crack Shack, Nando’s, SkinSpirit and The Shade Store at LaCenterra at Cinco Ranch in Katy, Texas; the Museum of Dream Space …

May 23, 2022

Development News Tennessee

Tanger Breaks Ground on 290,000-Square-Foot Outlet Mall in Nashville

by Katie Sloan May 19, 2022

Nashville, Tenn. — Tanger Factory Outlet Centers Inc. has broken ground on Tanger Outlets Nashville, a 290,000-square-foot outlet mall in Nashville. Scheduled to open in fall 2023, the six-building, open-air property will be located on a 32-acre site along I-24 within the Century Farms development. Tanger Outlets Nashville will house 70 brands and provide approximately 1,100 full- and part-time retail and management positions upon completion. Nashville will be the third Tennessee market served by Tanger as the Greensboro, North Carolina-based company has outlet malls in Sevierville and Memphis. The property …

May 19, 2022

Alabama California Investment sales News Tennessee Wisconsin

Tauro Capital Secures $149.7 Million Refinancing for 24-Property Walgreens Portfolio

by Katie Sloan May 2, 2022

Los Angeles — Tauro Capital Advisors has secured the $149.7 million refinancing of a 24-property Walgreens portfolio primarily located across Tennessee, Wisconsin and Alabama. Matt Bucaro of the Los Angeles-based firm secured the one-year floating bridge loan through Benefit Street Partners on behalf of the borrower, IBF Properties LLC. The portfolio spans 314,852 square feet and was purchased by IBF in 2021. The company is currently acquiring retail assets occupied by investment-grade tenants with plans to create a REIT.

May 2, 2022

Investment sales News Tennessee

SRS Brokers Sale of 58,950-Square-Foot East Ridge Crossing Shopping Center in Chattanooga

by Julia Sanders April 21, 2022

Chattanooga, Tenn. — SRS Real Estate Partners has brokered the sale of East Ridge Crossing, a 58,950-square-foot, Food Lion-anchored shopping center in Chattanooga. Kyle Stonis and Pierce Mayson of SRS represented the undisclosed seller and Tyler Matthews of Austin Sumner Properties represented the buyer, Hancock White Columns, in the transaction. Built in 1988 and renovated in 2021, East Ridge Crossing was 91 percent leased at the time of sale. The property is situated about seven miles southeast of downtown Chattanooga and just west of Interstate 75.

April 21, 2022

Investment sales News Tennessee

SRS Brokers Sale of 262,847-Square-Foot Retail Property in Memphis

by Julia Sanders March 29, 2022

Memphis, Tenn. — SRS Real Estate Partners has brokered the sale of Cross Creek Shopping Center, a 262,847-square-foot retail property in Memphis. A New York-based entity doing business as Allied Development of Memphis LLC sold the property for an undisclosed price to Aspen Real Estate. Kyle Stonis and Pierce Mayson of SRS’ Investment Properties Group represented the seller in the transaction, and Aspen was self-represented. Cross Creek is shadow-anchored by The Home Depot and features tenants including Ross Dress for Less, Conn’s HomePlus, dd’s Discounts and Five Below.

March 29, 2022

Investment sales News Tennessee

Marcus & Millichap Brokers Sale of 24,502-Square-Foot Retail Property in Northern Tennessee

by Julia Sanders March 24, 2022

Kingsport, Tenn. — Marcus & Millichap has brokered the $4.5 million sale of Shoppes at East Stone, a 24,502-square-foot retail property located at 2637 E. Stone Drive in Kingsport. Michael Early of Marcus & Millichap represented the seller, an undisclosed family trust, and secured the buyer, a Maryland-based real estate investment corporation. Jody McKibben, also of Marcus & Millichap, assisted in closing the transaction. Shoppes at East Stone was occupied by tenants including Polish Nail Bar, East Coast Wings + Grill, LL Flooring and Hertz Car Rental at the time …

March 24, 2022

Investment sales News Tennessee

SRS Brokers Sale of 126,145-Square-Foot Shopping Center in Knoxville

by Julia Sanders March 22, 2022

Knoxville, Tenn. — SRS’ Investment Properties Group has brokered the sale of Clinton Plaza, a 126,145-square-foot grocery-anchored neighborhood center in Knoxville. LBD Properties LLC purchased the property. Kyle Stonis and Pierce Mayson of the SRS represented the undisclosed seller in the transaction. The buyer was self-represented in the transaction. Anchored by Food City, Clinton Plaza has other tenants at the property including Advance Auto Parts, Dollar Tree, Gas ‘N Go, Rent-A-Center, ADMA Biologics, Metro by T-Mobile, 1st Heritage Credit and Cricket Wireless.

March 22, 2022

Florida Georgia News North Carolina Tennessee

Blackstone Agrees to Acquire Preferred Apartment Communities for $5.8 Billion

by Julia Sanders February 17, 2022

Atlanta and New York City — Blackstone Real Estate Income Trust Inc. (BREIT) has entered into a definitive agreement to acquire Preferred Apartment Communities Inc. (PAC) for approximately $5.8 billion. Under the terms of the agreement, BREIT will acquire all outstanding shares of PAC’s common stock for $25 per share in an all-cash transaction. PAC’s portfolio includes 44 multifamily communities totaling approximately 12,000 units concentrated largely in Atlanta, Orlando, Tampa, Jacksonville, Charlotte and Nashville, as well as 54 grocery-anchored retail assets comprising roughly 6 million square feet in Atlanta, Orlando, …

February 17, 2022

Florida Georgia News North Carolina Tennessee Virginia

Stockbridge Acquires Six Grocery-Anchored Properties Across Southeast

by Julia Sanders February 11, 2022

Atlanta — Stockbridge has acquired a six-property, grocery-anchored portfolio located in five markets across the Southeast. Branch Properties will maintain minority ownership in the portfolio and will continue to handle management and leasing at the property level. The portfolio features grocers Publix Super Markets and Harris Teeter, along with a mix of service providers, retailers and restaurants. The six properties, totaling 765,969 square feet, include Burnt Store Marketplace in Punta Gorda, Florida; Village Shoppes of Sugarloaf in Lawrenceville, Georgia; Five Forks Corners in Lilburn, Georgia; Waterford Village in Wilmington, North …

February 11, 2022

Investment sales News Tennessee

Matthews Negotiates $11.8 Million Sale of Shopping Center in Metro Nashville

by Julia Sanders February 1, 2022

Franklin, Tenn. — Matthews Real Estate Investment Services has negotiated the $11.8 million sale of Carothers Crossing, a shopping center located roughly 22 miles outside Nashville in Franklin. Hutt Cooke and Clay Smith of Matthews Real Estate Investment Services represented the undisclosed seller in the transaction. The buyer was also not disclosed. Carothers Crossing was fully occupied at the time of sale by tenants such as Starbucks Coffee, FirstBank and Pacific Dental.

February 1, 2022

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