Clarksville, Tenn. — Rise Partners has purchased a vacant 95,000-square-foot retail property in Clarksville, Tennessee, that formerly housed Kmart.
The investment firm said construction will begin immediately on Clarksville Commons so that five national retailers can move in by late fall. Gary Shanks of The Shopping Center Group is handling leasing of the center. The names of the retailers have not yet been announced. The asset, which also has a vacant fuel center, is situated at 2300 Madison St., 43 miles northwest of downtown Nashville. The fuel center will be replaced with restaurant and retail space. The seller and sales price were not disclosed.