Update: HFF announced the closing of this sale on February 6, 2018. Click here to be taken to our Search Properties page to view current commercial real estate investment opportunities.
Holliday Fenoglio Fowler, L.P., (HFF), on behalf of the owner, is pleased to exclusively market for sale Providence Commons, a dominant 110,137-square-foot grocery-anchored shopping center with significant value add through the development of a prime phase II development site. The property is located in Tennessee’s second-fastest growing submarket, Mt. Juliet, which is within the Nashville metropolitan statistical area. The 100-percent-leased retail center for sale was constructed in 2009 and anchored by Publix, the 14th largest retailer in the United States.
Providence Commons has one of the submarket's strongest tenant lineups, with 87 percent of the rentable GLA leased to national and regional tenants, including Tuesday Morning, Anytime Fitness, Starbucks, Pizza Hut, Subway, Moe’s Southwest Grill, Edible Arrangements, Supercuts and Precision Eye Care. Additionally, the +/- 7.19-acre development site that is located adjacent to the property is easily developable and improved for utilities and is both engineered fill and engineered grade.
Mt. Juliet is a dominant retail hub for the eastern half of the Nashville MSA. The retail center for sale is located at 631 South Mt. Juliet Road less than 12 miles from downtown Nashville in a booming submarket. Mt. Juliet is nationally ranked for new home construction, job creation and household growth. Additionally, Wilson County is the second wealthiest county in Tennessee with more than 20,000 residents earning an average annual income of exceeding $86,000 within a three-mile radius of the center. Furthermore, 7,500 residential units are under construction within a five-mile radius of the property, which will result in nearly 18,000 future residents. The Providence master-planned community is located directly behind the property and contains 2,000 upscale residential units.
For more information on Providence Commons or other retail properties for sale, please contact Jim Hamilton in HFF’s Atlanta office. For information on acquisition financing, please contact Gregg Shapiro. Click here for HFF’s real estate investment sales search page.