{"id":1004636184,"date":"2022-12-20T04:15:14","date_gmt":"2022-12-20T12:15:14","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004636184"},"modified":"2022-12-20T04:15:16","modified_gmt":"2022-12-20T12:15:16","slug":"chattanooga-retail-asset-sells-for-20m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/chattanooga-retail-asset-sells-for-20m\/","title":{"rendered":"Chattanooga Retail Asset Sells for $20M"},"content":{"rendered":"
\"\"<\/a>

Image by Alexander Kovacs via Unsplash.com<\/p><\/div>\n

Bodin Properties<\/strong> has acquired Cleveland Towne Center, a 148,203-square-foot retail center<\/a> in the Chattanooga, Tenn., suburb of Cleveland. JLL Capital Markets<\/strong> brokered the $20 million transaction on behalf of the seller, Wicker Park Capital Management<\/strong>.<\/p>\n

Wicker Park had purchased the asset in 2016 from ShopCore Properties<\/strong> for $17.3 million, according to CommercialEdge data.<\/p>\n

Completed in 2008, Cleveland Towne Center comprises four buildings spread across a 16.8-acre site. The property is anchored by Ross Dress for Less, Old Navy, Ashley Furniture, Electronic Express and Books-A-Million, while Target and Kohl\u2019s are shadow anchors. The multi-tenant center was fully leased at the time of sale.<\/p>\n

Located at 4580 Frontage Road, the asset is one of the most visited shopping centers in Tennessee. The property is adjacent to Interstate 75, in an area where the traffic count can reach approximately 53,000 vehicles per day. Cleveland State Community College and Lee University are within a 4-mile radius.<\/p>\n

JLL Managing Director Brad Buchanan, Senior Managing Director Jim Hamilton and Associate Andrew Kahn represented the seller.<\/p>\n","protected":false},"excerpt":{"rendered":"

The property is one of the most visited shopping centers in Tennessee.<\/p>\n","protected":false},"author":3014,"featured_media":1004636185,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742,21749],"tags":[32791,32796,51753],"class_list":["post-1004636184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest","category-retail","tag-deutsche-bank","tag-jll","tag-shopcore-properties"],"acf":[],"yoast_head":"\nChattanooga Retail Asset Sells for $20M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Bodin Properties acquired Cleveland Towne Center in Cleveland, Tenn., from Wicker Park Capital Management. 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