JLL closes $9.83M sale of Rivergate Square, a Nashville-area retail center

ATLANTA, Dec. 2, 2024 – JLL Capital Markets announced today the $9.83 million sale of Rivergate Square, an 81,935-square-foot retail center located within the Nashville, Tennessee MSA.

JLL represented the seller, Albanese Cormier, in the successful sale of Rivergate Square.

Rivergate Square, located at 1584 Gallatin Pike North in Madison, Tennessee, occupies a prime location adjacent to I-65 (104,000 vehicles per day) and connects to US 31E (22,350 vehicles per day). With access to Nashville's premier submarkets and two million residents, the property maintains 100% occupancy, featuring a diverse tenant mix that ensures a stable income stream. More than 50% of the gross leasable area (GLA) comprises renewed or newly executed leases. A blend of national and regional tenants, including prominent brands such as Dollar General, Office Depot, dd's Discounts, and Jimmy John's, occupy anchor spots at the property.

The JLL Investment Sales and Advisory team was led by Senior Managing Director Jim Hamilton and Managing Director Brad Buchanan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Albanese Cormier, founded in 2001, is a vertically integrated real estate investment firm specializing in the acquisition, leasing, and management of retail shopping centers across the United States. With a focus on open air shopping centers and mixed-use developments, the company has grown its portfolio to over 6 million square feet in 20 states.