JLL closes $9.83M sale of Rivergate Square, a Nashville-area retail center
Albanese Cormier sells an 82K SF retail center in Madison, TN
ATLANTA, Dec. 2, 2024 – JLL Capital Markets announced today the $9.83 million sale of Rivergate Square, an 81,935-square-foot retail center located within the Nashville, Tennessee MSA.
JLL represented the seller, Albanese Cormier, in the successful sale of Rivergate Square.
Rivergate Square, located at 1584 Gallatin Pike North in Madison, Tennessee, occupies a prime location adjacent to I-65 (104,000 vehicles per day) and connects to US 31E (22,350 vehicles per day). With access to Nashville's premier submarkets and two million residents, the property maintains 100% occupancy, featuring a diverse tenant mix that ensures a stable income stream. More than 50% of the gross leasable area (GLA) comprises renewed or newly executed leases. A blend of national and regional tenants, including prominent brands such as Dollar General, Office Depot, dd's Discounts, and Jimmy John's, occupy anchor spots at the property.
The JLL Investment Sales and Advisory team was led by Senior Managing Director Jim Hamilton and Managing Director Brad Buchanan.
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 sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 111,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Albanese Cormier
Albanese Cormier, founded in 2001, is a vertically integrated real estate investment firm specializing in the acquisition, leasing, and management of retail shopping centers across the United States. With a focus on open air shopping centers and mixed-use developments, the company has grown its portfolio to over 6 million square feet in 20 states.