Marcus & Millichap Sells South Terrace Plaza Retail Center In Chattanooga For $5.3M

The South Terrace Plaza, a retail center located at 5076-5084 South Terrace in Chattanooga, was sold for $5,300,000. The property spans 46,700 square feet and was shadow-anchored by AMC Theatres. With a 94 percent occupancy rate and long-tenured tenants, the plaza attracted competitive bids due to its prime location and growth potential.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $5,300,000
• Address: 5076-5084 South Terrace, Chattanooga, TN
• Market: Chattanooga, TN
• Square Footage: 46,700
• Price Per Square Foot: $113

The sale of the South Terrace Plaza was facilitated by brokers Eric Abbott, Jody McKibben, and Zachary Taylor from Marcus & Millichap. Their expertise and negotiation skills were instrumental in securing a successful transaction for the retail center in Chattanooga. The competitive bids and high occupancy rate reflect the desirability of the property in the market.