Core Trader Joe’s-anchored asset in Nashville sold
JLL brokered the $45.3M sale of the retail center
ATLANTA, January 30, 2020 – JLL Capital Markets announced today that it has closed the $45.3 million sale of Lion’s Head Village, a fully leased, Trader Joe’s-anchored retail center in one of the most highly sought-after submarkets in Nashville, Tennessee.
JLL marketed the property on behalf of the seller, Boyle Investment Company. Stockbridge purchased the asset.
Lion’s Head Village houses one of only four Trader Joe’s locations in the state of Tennessee and is shadow-anchored by a top-performing Target store. The property is in the Belle Meade/Green Hills Retail submarket, which has high barriers to entry and is one of the most highly sought-after submarkets in the Nashville MSA. It is only four miles from downtown Nashville and two miles from Vanderbilt University, situated on 9.57 acres at 90 White Bridge Road. Lion’s Head Village is surrounded by one of the most affluent customer bases in Nashville and across the Southeast. More than 73,200 residents earning an average annual household income of $128,184 live within a three-mile radius of the property, and the area buying power is $4.3 billion.
The JLL Retail Capital Markets team representing the seller was led by Senior Managing Director Jim Hamilton.
“Lions Head Village is a generational investment opportunity located in one of the most highly sought-after submarkets in Nashville,” Hamilton said.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Boyle Investment Company
Founded in 1933, Boyle Investment Company offers extensive development, sales, leasing and property management capabilities, including the development of office, retail, residential and mixed-use properties. Boyle provides premier locations, innovative design and long-range planning. Boyle is a master at developing stimulating environments that endure the test of time. Their reputation for quality has been achieved through great attention to detail and service. Learn more at boyle.com.
About Stockbridge
Stockbridge (stockbridge.com) is a real estate investment management firm headquartered in San Francisco, California, with offices in Atlanta and Chicago. The firm’s portfolio is comprised of assets across the risk spectrum, spanning all major property types throughout the United States. As of June 30, 2019, the firm’s total assets under management totaled approximately $14.9 billion.