Project Description

Loudon, TN

Project Details

CLIENT

2799 Highway 72 North, LLC

PROJECT TYPE

Retail

SERVICES PROVIDED

Property Management, Asset Management, Leasing, Disposition

AREA

Loudon (Knoxville), TN

  • A recent example of an under performing asset turnaround
  • We inherited a Food City anchored shopping center with high vacancy rates and other factors¬†detrimental to return performance
  • We leased a portion of the former Food City box to Goodwill, eliminating a leasehold obligation and associated strain on cash flow
  • We completed the junior anchor lease to Dollar Tree
  • We completed the lease up of small / local shops
  • Property is currently 97.75% leased and we are now working on out parcel development opportunities
  • Property accounting has been detailed and all tenants are now being charged correct triple net fees and annual reconciliations, further increasing client returns

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