Facility Will Be 100% Leased Upon Opening to Long-Term Tenants

Nashville, TN— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the all-cash $8,410,000 sale of a recently developed 10,656-square-foot retail shopping center located at 6700 Charlotte Pike, Nashville, TN. Senior Associate Hutt Cooke and Vice President Clay Smith represented the seller in the transaction.

 

The seller, a partnership of five individual investors, was looking to relinquish the property and invest in other assets, capitalizing on the facility’s new development, prominent location, growing population, and long-term leases. The buyer, a private investor, acquired the property in a 1031 Exchange. 6700 Pike will have 100 percent occupancy upon opening and is just six miles outside of downtown Nashville.

 

“It was our first deal with this developer, and it was a pleasure working with such a professional group that was on top of their project, “said Cooke. “We were ultimately able to use our experience to help bring in numerous qualified offers and help the seller achieve full list price.”

 

The shopping strip is in the affluent neighborhood of West Nashville on a high-traffic street, seeing over 35,000 vehicles daily. In the past 10 years, there has been an 18 percent population growth rate within the strip’s one-mile radius and is anticipated to continue growing.

 

“Utilizing an extensive marketing strategy combined with our joint databases allowed us to increase the number of potential buyers astronomically,” said Smith. “We were able to capitalize on the notable incoming tenants, including Chase, Pacific Dental Services, and Sleep Outfitters, who are all locked in on 10-year leases.”

 

For more information, or to contact Hutt Cooke and Clay Smith, please visit www.matthews.com.

 

 

 

 

About Matthews™

Matthews Real Estate Investments Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 15 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.