Matthews Completes $19M Sale of Murfreesboro Mixed-Use Development

Matthews Real Estate Investment Services has brokered the sale of Gateway Village, mixed-use multifamily and retail development in Murfreesboro, TN. The sale closed at $18.6 million and included financing from Matthews’ capital markets division.

Matthews’ Tripp Brown and Johnny Blue Craig handled the transaction while Chad Plumly handled the financing.

Matthews represented the seller, who disposed of the property to reallocate capital into industrial assets in the Southeast. The Gateway Village asset was the only mixed-use asset in the owner’s investment portfolio, which includes over 1 million square feet of industrial properties. The seller was able to extract their remaining equity and exchange it into multiple industrial assets.

The transaction was the buyer’s first investment in TN and plans to transition the property into a medical-focused tenant mix.

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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.

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