Trader Joe's Acquires Retail Property In Murfreesboro From TDK For $7.8 Million

The asset involved in the transaction is a retail property located at 2305 Medical Center Parkway, Murfreesboro, TN. The property encompasses 2.33 acres and features a newly built structure with a total square footage of 13,050. The sale price for this asset was $7,800,000, equating to a price per square foot of $598. The deal was closed at a 4.85% cap rate, which is below typical single-tenant net lease levels in the current market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,800,000
• Sale Date: 09/03/2025
• Address: 2305 Medical Center Parkway
• Market: Murfreesboro, TN
• Acres: 2.33
• Square Footage: 13,050
• Price per Square Foot: $598
• Buyer: Trader Joe's
• Seller: TDK
• Brokers: Jordan Powell, Lisa Maki & Mike Jacobs - undefined

Trader Joe's exercised its Right of First Refusal to acquire the property from the local developer TDK. The brokers representing this transaction were Jordan Powell, Lisa Maki, and Mike Jacobs.