Commercial Real Estate, Capital, Insurance, Leasing & Management

The Chattanoogan: Hixson Shopping Centers Sells For $14 Million

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Franklin Street has arranged the sale of Northtowne Centre, a 257,744-square-foot regional shopping center in Hixson at 5450 Highway 153. Coastal Equities, a South Florida-based commercial real estate investment company, acquired the asset for $14 million.

Franklin Street’s John Tennant and Bryan Belk, of the firm’s Atlanta Retail Investment Sales Team, represented a private seller in the transaction.

Northtowne Centre was 96.26 percent occupied at the time of sale with national tenants including Hobby Lobby, Ashley HomeStore Outlet, American Freight & Mattress, Staples, Dollar Tree, Stockdale’s, Great Clips and others. The property also features outparcels for Waffle House, McDonald’s and Firestone Complete Auto Care, which were not included in the transaction but provide additional traffic for the shopping center.

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