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VOL. 132 | NO. 141 | Tuesday, July 18, 2017

Bartlett Shopping Center Sells for Nearly $30M

By Patrick Lantrip

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A 198,103-square-foot shopping center in the heart of Bartlett has sold for $28.8 million.

In the deal, The Bartlett Towne Centre, located at 6005 Stage Road, was acquired by Atlanta-based private real estate investment firm Branch Properties LLC from Houston, Texas-based real estate investment trust, Weingarten Realty.

Built in 1989, the Kroger-anchored retail center sits on just under 18 acres at the southeast quadrant of Stage Road and Bartlett Boulevard. Earlier this year, the Shelby County Property Assessor appraised the property for $18.5 million.

According to documents filed with the Shelby County Register of Deeds, the shopping center has 27 other tenants besides Kroger, including Petco, Dollar Tree, Rent-A-Center and several restaurants.

Mark D. Stout, senior vice president/general counsel for Weingarten, signed the deed on its behalf, while Richard H. Ross, Branch Properties’ executive vice president and CFO, signed for the buyer.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 152 543 12,121
MORTGAGES 153 577 14,093
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 161 1,030 25,418
BANKRUPTCIES 43 288 8,160
BUSINESS LICENSES 27 159 4,113
UTILITY CONNECTIONS 136 387 8,962
MARRIAGE LICENSES 22 90 3,006

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