This property has sold.

Details: Retail

Asking Price: $10,600,000

Square Feet: 147,483 SF

Asking Cap Rate: 9.00%

Year Built: 2004

NOI: $954,130

SOLD – Centre Stage

2008 Memorial Blvd, Springfield, TN


147,000 SF Belks, Big Lots and Goodwill anchored shopping center for sale in the Nashville (MSA). The center is 100% leased almost exclusively to regional and national tenants. The offering includes a 1 acre outparcel that is ready for development. Tenants include Belk, Big Lots, Goodwill, Cato, Hibbett Sports, and more. Built-in rental escalations provide solid organic growth during an investors hold period.


  • 95% of GLA leased to strong national or regional tenants
  • 100% leased with a strong occupancy history
  • Recent renewals with Belk, Big Lots, Cato, and Hibbett Sports
  • Goodwill of Tennessee operates 48 stores in 36 counties. Pending renewal in 2020 will provide significant NOI growth with a rent increase of $16,000 annually
  • No co-tenancy clauses within the center
  • Approximately 1 acre outparcel included with the sale presents an investor the opportunity to sale or lease the pad
  • Unrivaled visibility and access from Memorial Blvd
  • Strong operating history with average tenancy of over 12 years

This property has sold.