MADISONVILLE, TN – Marketplace Shopping Center, a 39,400 square foot neighborhood shopping center anchored by a dark Food Lion, has been acquired by a private buyer. This transaction represents the second property sold in Tennessee and the eighth property sold in the last nine months by Crossman & Company.
Senior Vice President John Zielinski said “the dark anchor space created some challenges but we were able to find an owner-user while simultaneously negotiating a buyout of the anchor lease. This structure helped ensure that we achieved the best price for our institutional client.”
“Retail anchors, both traditional and non-traditional, have increasingly sought to buy the entire shopping center rather than just leasing their individual space,” said Director, Brian Carolan.
About Crossman & Company
Crossman & Company was founded in 1990 and is a regional shopping center brokerage firm which represents over 200 shopping centers in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina. For more information, visit the company’s website: www.crossmanco.com