{"id":1004475268,"date":"2020-09-02T04:10:47","date_gmt":"2020-09-02T12:10:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004475268"},"modified":"2020-09-02T04:10:47","modified_gmt":"2020-09-02T12:10:47","slug":"equity-street-acquires-nashville-shopping-center-in-141m-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/equity-street-acquires-nashville-shopping-center-in-141m-deal\/","title":{"rendered":"Equity Street Acquires Nashville Shopping Center in $141M Deal"},"content":{"rendered":"<div id=\"attachment_1004475271\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/The-Avenue-Murfreesboro.-Image-courtesy-of-Equity-Street-Capital.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004475271\" data-attachment-id=\"1004475271\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/equity-street-acquires-nashville-shopping-center-in-141m-deal\/the-avenue-murfreesboro-aerial\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/The-Avenue-Murfreesboro.-Image-courtesy-of-Equity-Street-Capital.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Equity Street Capital&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;The Avenue Murfreesboro in Nashville, TN&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;The Avenue Murfreesboro Aerial&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Avenue Murfreesboro\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Avenue Murfreesboro. &lt;i&gt;Image courtesy of Equity Street Capital&lt;\/i&gt;&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/The-Avenue-Murfreesboro.-Image-courtesy-of-Equity-Street-Capital.jpg?w=800\" class=\"wp-image-1004475271 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/The-Avenue-Murfreesboro.-Image-courtesy-of-Equity-Street-Capital.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/The-Avenue-Murfreesboro.-Image-courtesy-of-Equity-Street-Capital.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/The-Avenue-Murfreesboro.-Image-courtesy-of-Equity-Street-Capital.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/The-Avenue-Murfreesboro.-Image-courtesy-of-Equity-Street-Capital.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004475271\" class=\"wp-caption-text\">The Avenue Murfreesboro. <i>Image courtesy of Equity Street Capital<\/i><\/p><\/div>\n<p>Hines has sold The Avenue Murfreesboro, an 843,248-square-foot open-air shopping center outside of Nashville, Tenn., to a joint venture between Equity Street Capital and Big V Property Group for $141.3 million. Public records show that the asset last changed hands in the summer of 2013, when Hines bought the property for $163 million from Cousins Properties and Faison Enterprises.<\/p>\n<p>Located on 96.3 acres at 2615 Medical Center Parkway in Murfreesboro, Tenn., The Avenue has six multi-tenant structures, eight outparcels and five parcels for future development. The property\u2019s largest tenants include Belk, World Market, Barnes &amp; Noble and Old Navy.<\/p>\n<p>Situated some 30 miles southeast of downtown Nashville, the shopping center is on the northwestern side of Murfreesboro alongside Interstate 24. Several hospitality properties are on the asset\u2019s northern edge, and Sterling Organization\u2019s 671,000-square-foot Stones River Town Centre\u2014the nearest major shopping mall\u2014is 2 miles southeast.<\/p>\n<p>The retail sector continues to face an uphill battle due to the intersection of the pandemic\u2019s effects with longer-term shifts away from brick-and-mortar demand. Store closings and bankruptcy filings have followed suit: At the end of August, Lord &amp; Taylor became the <a href=\"https:\/\/www.commercialsearch.com\/news\/lord-taylor-the-end-of-an-era\/\">latest casualty of the downturn<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hines traded the 843,248-square-foot suburban retail property seven years after acquiring it for $163 million.<\/p>\n","protected":false},"author":861,"featured_media":1004475271,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,36077,21742,21749],"tags":[50152,33072,50149,32797],"class_list":["post-1004475268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-nashville-knoxville","category-latest","category-retail","tag-big-v-property-group","tag-cousins-properties-inc","tag-equity-street-capital","tag-hines"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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