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Franklin Street Arranges $8.1M Sale of Regional Shopping Center for Hendon Properties in Suburban Nashville
Franklin Street has arranged the sale of Village at RiverGate, a 64,106-square-foot retail shopping center in Madison, TN, for $8.1 million. The property is shadow-anchored by Target.
Franklin Street’s Atlanta-based Retail Investment Sales Team of John Tennant and Bryan Belk represented the seller, Atlanta-based Hendon Properties. The buyer was a local private investor.
“We are pleased to deliver successful execution in a challenging capital markets environment, as interest rates were raised several times during our transaction, coupled with the ongoing credit crunch on regional banks which occurred during our due diligence period,” said Tennant.
Built in 1981, the property recently underwent renovations including upgraded façade and storefront improvements.
Situated on 6.56 acres at 2056 Gallatin Pike N., Village at RiverGate benefits from the main retail corridor of Highway 31, which sees an average daily traffic count of over 30,580 vehicles and attracts 1.2 million visits annually.

