Fimiani Development Corporation has acquired Pennyrile Marketplace in Hopkinsville, Kentucky from Seritage KMT Finance for $3.75 million.
The 85,000-square-foot shopping center, located at 3010 Fort Campbell Blvd. in Hopkinsville, is anchored by Harbor Freight Tools, Bargain Hunt and Farmers Home Furniture. Boca Raton, Fla.-based Fimiani Development Corporation plans renovations to Pennyrile Marketplace including landscaping, improved signage and resurfacing of the parking lot.
Built in 1978, Pennyrile Marketplace sits on 12 acres. The shopping center is minutes from the Fort Campbell Army base, which is the third largest military base by population and the largest employer in the state of Tennessee.
“The close proximity of Pennyrile Marketplace to the Fort Campbell U.S. Army installation and surrounding retail makes this a destination retail hub for the trade area,” said Mike Fimiani, president of Fimiani Development. “We look forward to renovating the property which will add value not only for our tenants but also for the community.”
Fimiani represented Fimiani Development, and Marc Ozburn and Ross Robison of Berkeley Capital Advisors represented the seller. For more information, visit www.fimiani.com.
About Fimiani Development Corporation
Fimiani Development Corporation is a boutique development firm located in Boca Raton, Fla. focused on creating value by redeveloping retail and commercial real estate projects throughout Florida and the southeastern United States. What differentiates the company from others is its size, experience, focus and attention to detail. Services include acquisition and redevelopment of existing shopping centers; performing third-party leasing assignments of retail centers; and receivership and workout assignments of retail, commercial and residential real estate projects. For more information visit www.fimiani.com
