Atlanta-based Monarch Investments Group made its first foray into Nashville with the acquisition of The Shoppes at Rivergate in Madison for $15.6M. The seller was NY-based Garrison Investment Group, which paid $12M for the shopping center about three years ago.
The 172k SF property at 2148 Gallatin Pike is about 80% leased, the Tennessean reports, with Bed Bath & Beyond, Dollar General, Ashley Furniture and HH Gregg as the anchor tenants. Avison Young's Mike Jacobs repped the seller. [Tennessean]
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