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Oakwood Commons Shopping Center Sells for $24.4M

Big V Capital Acquires 277,000-SF Suburban Nashville Retail Center
February 23, 2018
Big V Capital acquired the 276,448-square-foot Oakwood Commons shopping center in Hermitage, TN from Brixmor Property Group, a retail center acquisition and disposition firm headquartered in NY. The retail property sold for $24.4 million, or approximately $88 per square foot.

Located at 4670 Lebanon Pike, Oakwood Commons is anchored by several national retailers including Publix, Ross Dress for Less, Bed Bath & Beyond and PetSmart. Additional tenants at the 89 percent leased shopping center include H&R Block, Wells Fargo Financial, YMCA, America’s Best Contacts and Dollar Tree.

HFF arranged the acquisition financing on behalf of Big V Capital, which owns and operates 35 grocer-anchored shopping centers totaling 3.9 million square feet across the U.S. Gregg Shapiro, managing director at HFF, and Matthew Beam, analyst, placed the five-year, floating-rate loan with Citizens Bank.

Jim Hamilton and Richard Reid, senior managing directors at HFF, along with Shea Petrick, also with HFF, represented the seller, which acquired Oakwood Commons as part of a portfolio totaling $9.3 billion in June 2011.

For more information on this transaction, please refer to CoStar COMPS #4122709.
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