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Shoppes at South Plaza Trade for $22.3M

RAIT Financial Trust Adds Nashville Shopping Center to Portfolio
December 7, 2011
Madison Partners LLC sold the Shoppes at South Plaza to RAIT Financial Trust, a Philadelphia-based REIT, for $22.3 million, or about $72 per square foot.

The 308,615-square-foot shopping center is comprised of four buildings, one of which is occupied by Lowe's. All of the buildings were built in 1985 and the Lowe's was renovated in 1994. The center is located at 5520 - 5704 Nolensville Pky in Nahsville, TN.

The seller and buyer both utilized in-house representation.

Please refer to CoStar COMPS #2190073 for more information on this transaction.
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