Q2 2012 Chattanooga, Tennessee Retail Property Sales Analysis

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Q2 2012 Chattanooga, Tennessee Retail Property Sales Analysis


The completion of six transactions all told in 2011 for a combined total of $44.5 million, at an average selling price of $34 psf, was followed by only a single sale year-to-date in 2012. In the deal at issue, Musa Massimo, Trustee, paid LNR Property LLC $2.735 million ($275 psf) for a 9,936- square-foot center on Gunbarrel Road, Chattanooga. The deal closed in May at a 4.4% cap rate.