2013-09-09 20:13:01 - Crossman & Company is proud to announce the sale of Northshore Town Center, a 78,306 SF grocery-anchored center located in Knoxville, Tennessee. The neighborhood center is anchored by a Publix Supermarket and is situated at the intersection of Northshore Drive and Town Center Boulevard.
Senior Vice President John Zielinski along with Brian Carolan, Director at Crossman & Company, have sold Northshore Town Center, located in Knoxville, TN, to a private group. Built in 2012 on 9.21 acres, Northshore Town Center sold at an undisclosed amount in just about a year’s time. The sale of the 78,306 square foot flagship, Publix-anchored site is the first of its kind to trade as no other hybrid Publix supermarkets have been obtainable for sale. CHM, LLC a prominent real estate development firm based in Knoxville, TN was the original developer for the center.
Carolan stated that, “When Publix goes into a new market, I believe they only choose the best locations.” It is also of note that
Publix Super Markets, Inc. has been awarded as one of FORTUNE's "Most Admired Companies" from 1994 to present and has scored higher than any other supermarket for customer satisfaction in a national survey conducted by the American Customer Satisfaction Index since 1995.
“It has been a pleasure working with both the buyers and sellers on this transaction. Publix at Northshore has been a success from day one and will continue to be a strong performing center for years to come.” said Zielinski.
Quickness was key in this deal. Northshore Town Center is a high-end, greatly sought after area. This three phase mixed-use development includes a 5-acre lake, parks and more. In the next 5 years we expect to see the project complete with large national retailers and a significant footprint in the economic development in Knoxville.
About Crossman & Company
Crossman & Company was founded in 1990 and is a regional shopping center brokerage firm which represents over 200 shopping centers in Florida, Georgia, Alabama, Tennessee, South Carolina and North Carolina.