Windfall Commons. Picture courtesy of Phillips Edison & Co.
Phillips Edison & Co. has bought Windfall Commons, a 110,137-square-foot retail middle in Mt. Juliet, Tenn. TA Realty was the vendor, in keeping with CommercialEdge information. A JLL Capital Markets crew brokered the transaction.
The property beforehand traded in 2018, for $28.2 million, when it was offered by Boyle Funding Co., the identical supply reveals.
Windfall Commons contains 4 buildings on a 23.1-acre web site. The sale included a further 7.2 acres of undeveloped land adjoining to the property. Its zoning permits for retail, workplace or hospitality improvement.
The retail middle was one hundred pc leased on the time of sale, anchored by Publix. Different tenants embrace Starbucks, Pizza Hut, Anytime Health, Precision Eye Care, Papa Johns and Subway.
Windfall Commons is positioned at 631 S. Mt. Juliet Street, 2 miles south of the intersection of Interstate 40 and Route 171. In response to JLL, Mt. Juliet is among the quickest rising submarkets within the Nashville Metropolitan Space, with 84 p.c inhabitants progress since 2010.
JLL Capital Markets labored on behalf of the vendor. The crew comprised Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Affiliate Andrew Michols.
On the finish of final yr, JLL Capital Markets additionally brokered the $20 million sale of a 148,203-square-foot retail middle in Chattanooga, Tenn., engaged on behalf of Wicker Park Capital Administration.
