February 09, 2018

Boyle Trades Nashville-Area Retail Asset

The property, Providence Commons, traded for nearly $30 million. Fully leased, the center is anchored by a Publix grocery store.

Boyle Investment Co. has sold Providence Commons, a 110,137-square-foot retail center in Mount Juliet, Tenn., an eastern suburb of Nashville. The new owner, TA Realty, acquired the property for $28.2 million, according to Wilson County public records. Late last year, the buyer divested from a different suburban retail asset in Northern California.

Located at 631 S. Mt. Juliet Road, the shopping center sits one mile south of Interstate 40 and is 15 miles east of downtown Nashville. Anchored by a Publix supermarket, Providence Commons is 100 percent leased to a number of shops and restaurants including Tuesday Morning, Pizza Hut, Anytime Fitness and Precision Eye Care. The 21-acre parcel includes a future development area of approximately seven acres. The property is situated next to Providence Marketplace, an open air, big-box shopping and entertainment center.

TA Realty is retaining Boyle to handle leasing and property management for the asset, and the company will additionally provide development services. An HFF team led by Jim Hamilton and Richard Reid represented the seller in the transaction.

Originally Published in Commercial Property Executive

By Jeff Hamann