NASHVILLE, Tenn. — Equity Street Capital, in partnership with Big V Property Group, has closed the largest outdoor retail shopping center transaction in the country this year to date with the acquisition of The Avenue Murfreesboro, a dominant power center located outside of Nashville, Tennessee.
The acquisition of the 843,248 SF center at a price of $141,300,000 makes The Avenue the largest commercial center per square foot to transact this year to date.
The closing was implemented successfully due to the off-market nature of the deal and the extensive transactional experience of Equity Street Capital and the Big V Property Group. It marks the 30th commercial real estate acquisition for Equity Street Capital, a growing San Diego based commercial investment group.
“The Equity Street Capital team is extremely excited about acquiring this property with our partners as it is truly one of a kind,” stated Than Merrill, co-founder of Equity Street Capital and FortuneBuilders.
“The property is one of the best retail centers in all of Tennessee and we can’t thank everyone enough who participated in putting this deal together,” said Paul Esajian, co-founder of Equity Street Capital and FortuneBuilders.
The Avenue is one of the most dominant retail power centers in the Southeast, featuring some of the most profitable and recognized retail brands in the U.S. including Best Buy, Dick’s Sporting Goods, Belk, H&M and Petco.
The property consists of six multi-tenant buildings, eight freestanding outparcels and 5 vacant pads on 96.34 acres in one of the most active retail trade areas in the state of Tennessee.