Matthews™ Closes $11.75M Sale of Nashville MSA Shopping Center

Nashville, TN – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of Carothers Crossing, a retail strip center located at 5040 Carothers Parkway, Franklin, TN. The high-demand asset has been 100 percent leased since April 2019 and is strategically positioned off major highway Interstate 65. The transaction closed $200,000 above the final list price at $11,750,000. Senior Associate Hutt Cooke and Associate Vice President Clay Smith handled the sale.

 

Matthews™ represented the seller, who was looking to dispose of the property and take advantage of the prosperous market. Agents sourced multiple offers, creating a competitive bidding environment that allowed the deal to close above the list price. The transaction also closed before the end of 2021, accomplishing the client’s goal.

 

“Carothers Crossing is a great investment opportunity for buyers. It includes seven NNN leases and is positioned in a highly visible, accessible, and affluent area,” Cooke said. “Knowing the value this type of property has in the Nashville market, we were able to price accurately and execute a competitive bidding environment, exceeding our client’s expectations.”

 

The buyer received a +15,200 square foot, Class A retail space in a prime location. The Franklin neighborhood is known as the most affluent suburb of Nashville and is set to grow 2.3 percent in population over the next five years. The investment is outparceled by the national gym, Life Time Fitness, and features well-known tenants such as Starbucks, FirstBank, Pacific Dental, and more.

 

“The Nashville MSA has a thriving retail market right now,” Smith said. “Using our market expertise and proprietary database we sourced a qualified buyer and executed both parties’ investment goals.”

 

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

 

About Matthews™

Matthews Real Estate Investment 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. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.