Memphis, Tenn. — The Shopping Center Group has arranged a lease transaction that will bring a Save-A-Lot grocery store to Binghampton Gateway, a 48,500-square-foot neighborhood center in Memphis.
Shawn Massey of The Shopping Center Group and Steve Bowie of Cor Mundi Investments represented Binghampton Development Corp., a faith-based, nonprofit organization, in the lease transaction.
The $6.5 million retail center will be located on a 4.5-acre site that was previously occupied by an apartment complex, which was demolished in January 2015.
Binghampton Gateway will feature the 16,300-square-foot Save-A-Lot, a 10,000-square-foot junior anchor tenant and 22,200 square feet of small shop space. Construction is expected to begin this summer with an anticipated completion date of spring 2017.