Franklin Street has arranged the $14 million sale of Northtowne Centre, a 257,744-square-foot regional shopping center in Chattanooga.
At the time of sale, the property was 96% occupied by a tenant roster that includes Hobby Lobby, Ashley HomeStore Outlet, American Freight & Mattress, Staples, Dollar Tree, Stockdale’s and Great Clips. The property also features outparcels for Waffle House, McDonald’s and Firestone Complete Auto Care, which were not included in the transaction but provide additional traffic for the shopping center.
John Tennant and Bryan Belk of the Franklin Street’s Atlanta Retail Investment Sales Team represented the private seller in the transaction. A South Florida-based commercial real estate investment company acquired the property.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles.
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