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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.
- ◦Sale/Acquisition
