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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 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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