Press Release

CBRE Arranges Sale of Germantown Collection Retail Center for $40.1 Million

October 4, 2021

Media Contact

Memphis – October 4, 2021 – CBRE announced the sale of Germantown Collection, a 108,289 sq. ft. specialty retail center located at 7820 Poplar Avenue and 2126 & 2130 Exeter Road. An entity affiliated with Stockbridge Capital Group purchased the shopping center from Wicker Park Capital Management for $40.1 million.

 

CBRE’s John Lamberson, Terry Radford and Mike Burkard represented the seller in the transaction.

 

“Germantown Collection is one of the premier retail destinations in Memphis, which has grown to about 1.3 million people,” said Lamberson, senior vice president, CBRE. “There was significant interest from investors due to the diverse mix of popular national and local retailers as well as the strong market fundamentals in Germantown, which has consistently been one of the most affluent submarkets in the MSA.”

 

Originally constructed in 1988, Germantown Collection is anchored by Trader Joe’s and the Container Store, which are the only locations for each retailer in the Memphis MSA. The retail center underwent a multimillion-dollar redevelopment and expansion in 2018 and 2019 that made significant capital improvements to the former Kroger and added a new building that is anchored by Chicken Salad Chick. The shopping center was 96% leased at the time of sale.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.