If you are looking for a large retail opportunity, you will want to consider this property!
Located in the thriving Cedar Bluff corridor across Kingston Pike from a new 105 acre mixed-use development that includes Academy Sports, Aldi, Gordon Food Service, Starbucks (coming soon) and apartments, and just west of a new 21 acre retail development that includes a new Kroger Marketplace and multiple restaurants and retail stores.
▪ Former grocery, end cap unit
▪ 66,511 SF on 5.08 Acres
▪ Co-anchored by Home Depot
▪ Parking spaces: 252 (3.79/1,000)
▪ Located in the heart of West Knoxville
▪ Rapidly expanding retail corridor
Marketplace Shopping Center is close to many main traffic arteries: Kingston Pike, I-40/75, N. Peters Rd/Parkside Dr, Cedar Bluff Rd and Middlebrook Pike. It is also in close proximity to many professional office buildings, neighborhoods, schools and churches.
For more information, contact:
Sam Tate, CCIM or Matt Fentress, RPA, CPM, CCIM
Register at Auction.com
Auction: October 22-24, 2012
This is an unique opportunity to purchase the asset fee simple!
Property Item#: B088-142
11131 & 11139 Turkey Drive, Knoxville, TN 37934
Property ID: 193004844
Asset Type: Commercial/Retail
STARTING BID: $650,000
BID DEPOSIT: $10,000
Oct 12, 2012, 10:00-11:30 a.m. and 4:30-6:00 p.m.
Oct 19, 2012, 10:00-11:30 a.m. and 4:30-6:00 p.m.
For auction related questions, please contact:
Auctioneer Licensing Information:
Real Estate Broker: Michael E. Carr 317462
Auctioneer License: Auction.com, Inc. 5430 | Michael Carr 4573
For property related questions, please contact:
Brian Tapp, CCIM | 865 777 3039 direct | firstname.lastname@example.org
Roger Denny | 865 777 3047 direct | email@example.com
NAI Knoxville, 10101 Sherrill Blvd, Knoxville, TN 37932 | 865-777-3030
Contributed by: John Dempster, Broker, NAI Knoxville
The “Property Report” in the March 20, 2011, edition of The Wall Street Journal. discusses the unusually large number of malls being offered for sale across the US. Major mall owners are selling underperforming properties and using the proceeds to clean up their balance sheets. Of local interest, Simon Property Group has put Knoxville Center on the market. Green Street Advisors says that the industry average for B-grade properties is annual sales of $352 per square foot. The Knoxville Center at 80% occupancy has sales in the range of $285-330 per square foot. Big malls are frequently sold to local developers who reposition them as discount centers or for other uses. The offering price for the Knoxville Center was not reported. [read article]
NAI Knoxville brokers Brian Tapp and Trey Miller, along with David Devaney, of NAI Charter, have confirmed that “bank owned” Belle Island is under contract. A local Knoxville developer has big plans for the pedestrian friendly development. Belle Island was originally designed to be a one-of-a-kind “entertainment village” in Pigeon Forge, TN combining traditional Southern charm and hospitality with unique shopping, dining and entertainment experiences. [read more]
Ruby Tuesday has hired Maribel Koella CCIM, SIOR, Brian Tapp and Roger Denny and with the NAI Knoxville Corporate Services team to serve as the master broker and assist in the acquisitions in the continental United States east of the Mississippi River excluding the state of Florida. [press release]