Franklin Street has brokered the $9.5 million sale of Battlefield Centre, a retail center located at 1785-1923 Battlefield Parkway in Fort Oglethorpe, Ga., just south of the Tennessee border. John Tennant and Bryan Belk of Franklin Street’s Atlanta office represented the seller, The Malon D Mimms Company of Roswell, Ga., in the transaction of the 214,409-square-foot property. The buyer Atlanta-based Vanguard Associates Holdings, LLC, plans to hold the asset for long-term investment.
Battlefield Centre is situated only five minutes from Chattanooga, Tenn., and about 90 minutes north of Atlanta. The shopping center features a diverse mix of service and retailer tenants including Tractor Supply, Aaron’s, Hamrick’s, Planet Fitness, Dirt Cheap, GNC, and H&R Block.
“Buyers continue to be attracted to steady secondary markets and discount retail centers, where their anchors’ goods or services cannot be bought online,” said Tennant, senior director of retail investment sales. “The quality and strength of the retail corridor is equally as important, as Battlefield Parkway has seen continued new retail store openings in the last few years.”
Battlefield Centre is located on the main retail thoroughfare for Fort Oglethorpe, which is part of the Chattanooga MSA. The property is surrounded by national retailers including Publix, Walmart, Home Depot, Lowe’s, Hobby Lobby, and Marshalls.
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