ATLANTA (May 19, 2021) – SRS’ Investment Properties Group has brokered the sale of their second Kroger-anchored community center in the second quarter of this year. The most recent sale of Shoppes at Hickory Hollow, a 144,469-square-foot Kroger-anchored community center, which is in Antioch, Tenn., within the Nashville MSA. The center is situated at 5319 Mount View Road with tremendous visibility fronting Mount View Road and Bell Road with a combined traffic count of 41,810 vehicles per day. The property benefits from both a loyal neighborhood consumer base as well as robust, regional commuter traffic in and out of Downtown Nashville. The Property’s consumer trade area is characterized by a strong population of 177,875 within a 5-mile radius and is strengthened by ongoing growth projected at 1.52% annually through 2025. Built in 1986 on 12.88 acres of land, the center is roughly 97% occupied. The tenant roster includes national retailers Kroger, Citi Trends, Octapharma Plasma, EmbroidMe, PostalAnnex, Republic Finance, Little Caesars, and more. The sellers, Mishorim USA Inc., Park One USA Inc., and Gold Investments USA Inc., sold the property on May 11, 2021 for $18 million to FNRP CV LLC.
“We’re excited to get our second Kroger-anchored asset in the last few weeks sold to another great buyer,” said Pierce Mayson, managing principal of SRS’ Investment Properties Group. “The demand for well-located grocery product continues to be extremely strong as pent-up demand surges coming out of the pandemic.”
Kyle Stonis, managing principal, and Pierce Mayson, managing principal, of the Investment Properties Group in the SRS Atlanta office, represented the seller in the transaction. The buyer was self-represented in the transaction.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.