Chattanooga Retail Asset Changes Hands
- Sep 20, 2018
Six Pines Realty has sold Snow Hill Village, an 86,108-square-foot Chattanooga, Tenn.-area shopping center, for $18.5 million to Publix. Publix operates a 54,500-square-foot grocery store on-site, which anchors the property.
HFF’s Jim Hamilton, Mike Allison and Andrew Kahn represented the seller in the transaction.
Located at 5958 Snow Hill Road in the suburb of Ooltewah, Tenn., the property is positioned along the north side of Interstate 75, which connects the area with downtown Chattanooga, 17 miles away. The asset is situated near Olympus Property’s 312-unit Legends at White Oak and an assisted living community, with several neighborhoods in the immediate area.
The property, built in 2008, is 95 percent leased. In addition to the grocery store, a wide variety of other tenants occupy the property, including Beef O’Brady’s, Edward Jones, H&R Block and SunTrust Bank. Soloff Properties is marketing the remaining space for lease.
In February, a 275,000-square-foot Publix-anchored shopping center sold for nearly $25 million.
Image via Google Maps