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RCG-Collierville VII, LLC Acquires Retail Center In Collierville For $12M

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SOLD
$12,000,000

Tennessee

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Retail188,662 SF
Sold 04/18/2024
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Property Image
SOLD

RCG-Collierville VII, LLC Acquires Retail Center In Collierville For $12M

255 New Byhalia Road & 295 New Byhalia Road

See Similar Deals
Retail188,662 SF
Sold 04/18/2024
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Summary

TENNESSEE
Asset Type:Retail
Price Per Square Foot:$63
Total Square Footage:188,662 SF
Transaction Type:Sale

The retail center known as Collierville Crossing, located at 255-295 New Byhalia Road in Collierville, Tennessee, was sold for $12 million. The property spans 94,331 square feet, resulting in a price per square foot of $127. The sale took place on April 18, 2024, with the buyer being RCG-Collierville VII, LLC and the seller being Desco Group and Affinius Capital.

Summary of transaction details:

JLL Capital Markets facilitated the transaction, with RCG-Collierville VII, LLC acquiring Collierville Crossing from the joint sellers, Desco Group and Affinius Capital. The brokers involved in the deal were Andrew Michols, Brad Buchanan, and Jim Hamilton from JLL, representing the parties in the transaction.

Players

Jim Hamilton
28 deals$1B volume
BROKER

Brad Buchanan
JLL
27 deals$748.7M volume
BROKER

Andrew Michols
JLL
8 deals$542.3M volume
BROKER

Details

SOLD
IMAGE: 04/18/2024 ADDRESS: 255-295 New Byhalia Road MARKET: Collierville, TN ASSET TYPE: Retail BUYER: RCG-Collierville VII, LLC SELLER: Desco Group & Affinius Capital BROKERS: Andrew Michols, Brad Buchanan & Jim Hamilton - JLL SALE PRICE: $12,000,000 SF: 94,331 ~ PPSF: $127 NOTE: JLL Capital Markets has closed the $12 million sale of Collierville Crossing, a retail center in Collierville, Tennessee, representing the seller, Desco Group and Affinius Capital, with RCG-Collierville VII, LLC acquiring the asset.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$640,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$42,633.46
Cash-on-Cash Return-1.27%
Monthly Debt Service$56,886.12
Annual Debt Service$682,633.47