Atlanta & Southeast + Southeast + Retail | January 9, 2023

Bodin Properties has acquired the Cleveland Towne Center retail complex in Cleveland, TN, for $20 million.

Bodin Properties Bags Cleveland Towne Center Retail Complex for $20M

Bodin Properties has acquired the Cleveland Towne Center, a 148,203-square-foot, multi-anchored retail asset in the Chattanooga submarket of Cleveland, TN, for $20 million.

Jim Hamilton, Brad Buchanan and Andrew Kahn of JLL represented seller Wicker Park Capital Management, LLC a Savannah, GA-based full-service global provider of capital solutions for real estate investors and occupiers.

The 2008-constructed, the 100% leased Cleveland Towne Center is anchored by Ross Dress for Less, Ashley Furniture, Old Navy, Books-A-Million and Electronic Express and shadow anchored by Kohl’s and Target. According the JLL, the center ranks in the top 92% most-visited shopping centers in TN and is in the top 91% most-visited shopping centers in the US.

The center is directly off of I-75 at 4580 Frontage Road within proximity to numerous economic drivers, including Whirlpool Corporation and M&Ms as well as Lee University and Cleveland State Community College. The closest competing location for all anchor tenants is over 20 miles away.

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JLL's Jim Hamilton

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.