Franklin Street has arranged the sale of Village at RiverGate, a 64,106-square-foot retail shopping center in Madison, TN, for $8.1 million. The property is shadow-anchored by Target.
Franklin Street’s Atlanta-based Retail Investment Sales Team of John Tennant and Bryan Belk represented the seller, Atlanta-based Hendon Properties. The buyer was a local private investor.
“We are pleased to deliver successful execution in a challenging capital markets environment, as interest rates were raised several times during our transaction, coupled with the ongoing credit crunch on regional banks which occurred during our due diligence period,” said Tennant.