Greenberg Gibbons announced today that it has acquired Cool Springs Pointe, a 198,103-square-foot retail power center located in Brentwood, Tennessee, for $34.5 million.
The center was purchased through the Greenberg Gibbons Real Estate Income Fund, which launched in March of 2021 to strategically acquire shopping centers throughout the East Coast, Southeast and premier Midwest markets. This is the fund’s seventh acquisition and the company’s first property in Tennessee.
“We’re excited to continue expanding our footprint across the South with the acquisition of a high-quality asset like Cool Springs Pointe,” said Tom Falatko, Senior Vice President of Acquisitions at Greenberg Gibbons.
Cool Springs Pointe, which is 100% leased and attracts more than 1.8 million visitors annually, is anchored by notable national retailers including Best Buy, Ross Dress for Less, Restoration Hardware Outlet, Golf Galaxy, Old Navy, and Party City. The property sits at the corner of the Moores Lane and Interstate 65 interchange, 10 miles from Nashville.
“Brentwood is one of the best performing markets in the Nashville area and we see strong opportunities to increase this property’s value and tenant success for years to come,” said Tracey Holehan, Senior Vice President and Director of Leasing for Greenberg Gibbons.
Other notable properties acquired through the fund include Gateway Plaza in Sanford, Fla., Town N’ Country in Greenville, SC., Sea Turtle Marketplace in Hilton Head, SC., and Westminster Crossing East and West in Carroll County, Md.
Greenberg Gibbons is actively seeking investments with a focus on essential and convenience-oriented shopping centers, including value-add, grocery-anchored neighborhoods and power centers that may need to be revitalized through repositioning of retail spaces, property upgrades, developing additional uses and improving operations.
About Greenberg Gibbons
Celebrating 55 years of success, Greenberg Gibbons is one of the East Coast’s premier developers, investors, owners, and operators of mixed-use, retail, commercial, and residential properties. The firm’s rapidly expanding portfolio includes more than 6.5 million square feet and $1.5 billion in assets. Its innovative ground-up development and revitalization projects create engaging destinations and inspiring experiences, while making a positive ripple effect in the communities they serve. Headquartered in Baltimore, Greenberg Gibbons has 52 projects across eight states. For more information, visit www.ggcommercial.com.
