HFF announces the $12.98 million sale of Kroger-anchored shopping center in Memphis, TN

Summer Center Shopping Center, Memphis, TN

                                                                                                    

ATLANTA, GA –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $12.98 million sale of Summer Center, a 136,425-square-foot community shopping center anchored by Kroger and Ross Dress for Less in Memphis, Tennessee.

Jim Hamilton

The HFF team marketed the property on behalf of the seller, BDB Summer Center LLC, a private Atlanta real estate firm.  Additionally, HFF closed the sale of this property to the seller in 2013.

In addition to a high-performing Kroger and Dress for Less, the 90-percent-leased Summer Center is also home to Kroger Fuel Center, Hibbett Sports, H&R Block, Supercuts, Little Caesars, Rainbow, Mad Rag, Advance America, America’s Best Contacts & Eyeglasses and more. 

Additionally, Summer Center is shadow anchored by Big Lots and T.J.Maxx.  The center is located on 12.7 acres at 4270 Summer Avenue near the intersection of Waring Road and inside the 240 Loop. 

Brad Buchanan

 Most of the shop tenants face Summer Avenue, which has a daily traffic count of more than 28,000 vehicles.  More than 77,348 residents earning an average annual household income of $69,634 live within a three-mile radius of Summer Center.

The HFF investment advisory team representing the seller included senior managing director Jim Hamilton, directors Brad Buchanan and Michael Allison and real estate analyst Ryan Stoffer.

For more information, please contact:

KIMBERLY STEELE

HFF Digital Content/Public Relations Specialist

(713) 852-3420

ksteele@hfflp.com