Nashville, TN – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate company announces the sale of the Parkway Village West shopping center. The listing agents for the property were Regional Director of Investments, Johnny Blue Craig and Senior Vice President and Regional Director, Scott Henard.
Parkway Village West is a 147,520 square foot shopping center located off Perkins Road and Knight Arnold Road in Memphis, TN. The property is anchored by national tenants Dollar General, Advance Auto, and regional grocery chain Superlo Foods. The property also contained two outparcels, leased to Checkers and Church’s Chicken.
“There were many objections and obstacles we had to overcome relating to physical conditions and loan hurdles,” said Scott Henard. “It took a joint effort from Barrington Capital and an experienced deal team to keep this transaction together and navigate to the finish line for a successful closing.”
“Ultimately, the seller achieved a great result and can now reposition his capital. Additionally, the buyer has acquired an excellent investment opportunity in which he will be able to increase the value of the asset through capital improvements and lease-up. A deal team can make or break a transaction and we are pleased to have been able to execute for our seller,” said Johnny Blue Craig.
For more information regarding the sale of Parkway Village West or if you have any questions relating to the market for grocery anchored and shadow anchored assets, please do not hesitate to reach out to Johnny Blue Craig or Scott Henard. The team has sold 12+ grocery anchored and shadow anchored assets within the past 12 months. To view current listings, please visit www.matthews.com.
Matthews Real Estate Investment Services™ is recognized as an industry leader in Shopping Centers, STNL, Multifamily, Leasing, Management, Portfolio Disposition and 1031 Exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit www.matthews.com.