Time Equities Acquires Eastern TN Retail Center
The shopping center, leased to a variety of tenants including Books-A-Million, Jo-Ann Fabrics, Shoe Carnival and Catherine’s, contains more than 140,000 square feet.
By Jeff Hamann
Governor’s Crossing in Sevierville, Tenn.
RCG Ventures has traded Governor’s Crossing, a 140,568-square-foot shopping center in Sevierville, Tenn., to Time Equities Inc. for $13.9 million. Investment Properties Group—part of SRS Real Estate Partners—marketed the commercial asset on RCG’s behalf.
Located at 212 Collier Drive, the property is near U.S. Highway 441 and approximately 25 miles southeast of Knoxville. The retail asset opened in 1999 and features a diverse roster of national tenants such as Jo-Ann Fabrics, Books-A-Million, Catherine’s, Shoe Carnival and Workout Anytime. The center is close to other shopping options, including the Tanger Outlets Sevierville outdoor mall and a Walmart Supercenter. Great Smoky Mountains National Park and NASCAR Speedpark are also nearby.
“Governor’s Crossing is a well-established community center, thanks in large part to it being in the heart of Eastern Tennessee’s tourism hub, which attracts 10 million-plus people who visit the region per year,” said Ami Ziff, director of national retail for TEI, in a prepared statement.
Ziff and Adam Levitt represented the buyer in the transaction, while Kyle Stonis and Pierce Mayson of Investment Properties Group worked on behalf of RCG Ventures.
Image courtesy of Time Equities Inc.
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