Tennessee

Memphis — Hanley Investment Group Real Estate Advisors has arranged the sale of two single-tenant retail properties net leased to Burger King in Memphis. The properties sold for a total of $6 million to two separate buyers. Matt Burnett of Hanley Investment Group, in association with Scott Reid & ParaSell Inc., represented the seller, a private investor based in Los Angeles, in both transactions. Dispositions included a 2,860-square-foot Burger King property with a drive-thru located less than one mile from the Memphis International Airport, which sold for $3.5 million to …

Portland, Tenn. — The Palomar Group has brokered the sale of Portland Village, an 84,250-square-foot, grocery-anchored shopping center in Portland, about 40.2 miles north of Nashville. The undisclosed buyer, a private investor based in Greenville, South Carolina, bought the property for $7.8 million. The seller was Cincinnati-based Phillips Edison & Co. The Palomar Group represented the buyer and the seller in the transaction. The center was 94 percent leased at the time of sale to tenants including Cash Saver, Planet Fitness and Family Dollar.

Brentwood, Tenn. — JLL has arranged the $24.9 million sale of Mallory Corners, an Aldi-anchored, 70,000-square-foot shopping center in the Nashville suburb of Brentwood. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL represented the seller, Longpoint Realty Partners. Pine Tree represented the buyer, an undisclosed state pension fund. Mallory Corners was fully leased at the time of sale to tenants including Barnes & Noble, Play it Again Sports, AAA, Hoover Paint Store and Brilliant Sky Toys & Books. The property is shadow anchored by Costco.

Shelbyville, Tenn. — Stan Johnson Co. has brokered the sale of Shelbyville Square, an 18,900-square-foot shopping center located at 1020 North Main St. in Shelbyville. Shelbyville Square was fully leased at the time of sale to eight tenants including Petsense and Pizza Hut. Doug Clyburn and Julie Clyburn of Stan Johnson Co. represented the 1031 exchange buyer, a private investor from Dacula, Georgia. Sofran Partners, an Atlanta-based developer, sold the property for $4.6 million, reflecting a 7.99 percent cap rate.

Antioch, Tenn. — SRS Real Estate Partners has brokered the sale of the Shoppes at Hickory Hollow, a 144,469-square-foot, Kroger-anchored shopping center in Antioch. The sellers, Mishorim USA Inc., Park One USA Inc. and Gold Investments USA Inc., sold the property to an entity doing business as FNRP CV LLC for $18 million. The center is situated at 5319 Mount View Road next to Mount View and Bell roads in metro Nashville. Built in 1986 on approximately 12.9 acres, the center is roughly 97 percent leased to tenants such as …

Nashville, Tenn. — Continental Realty Corp. (CRC) has acquired 111 Broadway, a 50,303-square-foot, mixed-use property in downtown Nashville. Tower Investments Inc. sold the property for $36 million. The four-tenant building is 100 percent leased to tenants including Rock Bottom Brewery, Wyndham-Margaritaville Vacation Club, Glen Campbell Museum and Platinum Cos. Constructed in 1930, the three-story property has been renovated over the past five years, including improvements to the roof, windows, exterior and elevator systems.