Q2 2012 Memphis, Tennessee Retail Property Sales Analysis

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Q2 2012 Memphis, Tennessee Retail Property Sales Analysis


Retail investment sales were also strong in the second quarter of 2012, with three deals for $68 million at a mean price of $80 psf and a mean cap rate of just 3.1%. As one might expect from the low cap rate a Walgreens changed hands, but the leading sale of the quarter was the 810,832-square-foot The Avenue at Collerville in Collierville. Jim Wilson & Associates LLC sold it to Poag Lifestyle Centers in May for $55 million ($68 psf). The rolling 12 month cap rate is 5.8%, down from earlier readings.