Q2 2012 Nashville, Tennessee Retail Property Sales Analysis

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Q2 2012 Nashville, Tennessee Retail Property Sales Analysis


Sales run in small numbers and, usually, post small dollar totals. Second quarter’s sole closed transaction, however, was an exception. In June, in the largest deal in a year, Germany-based GLL Real Estate Partners paid Nashville West Shopping Center LLC $73.15 million ($226 psf) in June for a major portion of the Nashville West Shopping Center on Charlotte Pike in west Nashville. The 12-month rolling mean cap rate per quarter-end was 6.6%, down from 8.2% a year earlier. According to the Nashville Business Journal, the 40 acres sold host “most of its big-box properties” excepting Target and Costco. Current big-box tenants include Dick’s Sporting Goods, Marshall’s, Ross, World Market, Petsmart, Staples and Best Buy. The center opened in 2007.