Nashville, Dec. 14, 2015 – CBRE’s Nashville office has facilitated the sale of The Shoppes at Hermitage Hills, a +/- 22,134 SF retail center located along Lebanon Pike in Hermitage, Tennessee, a rapidly growing suburb of Nashville. The retail center was built in 2014 and includes a diverse tenant mix with AT&T, Mattress King, Papa Murphy’s Pizza, Picture This, and First Watch. Paul Gaither and Mia Keller Hill with CBRE’s Investment Properties Group represented the seller, a Nashville-based partnership. The buyer, an out-of-state investor represented by Ed Nelson of Marcus & Millichap, purchased the center for $6,500,000.
“Newly constructed, well located strip centers such as The Shoppes at Hermitage Hills are precisely the type of retail properties many private investors are seeking, particularly out of state buyers.” Gaither said.
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CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.