Equity Street Capital Closes $141M Commercial Deal, Largest Outdoor Retail Transaction in 2020

This acquisition, which involves the 843,248 square feet center, was successfully executed at a cost of $141,300,000, rendering The Avenue the largest commercial center in terms of square footage to undergo a transaction this year.

The success of the closing can be attributed to the off-market nature of the deal and the extensive transactional expertise of Equity Street Capital and the Big V Property Group. This milestone marks the 30th commercial real estate acquisition for Equity Street Capital, a thriving commercial investment group based in San Diego.

Expressing enthusiasm about the acquisition, Than Merrill, co-founder of Equity Street Capital and FortuneBuilders, stated, “The Equity Street Capital team is extremely excited about acquiring this property with our partners as it is truly one of a kind.”

Paul Esajian, co-founder of Equity Street Capital and FortuneBuilders, added, “The property is one of the best retail centers in all of Tennessee, and we can’t thank everyone enough who participated in putting this deal together.”

The Avenue stands out as one of the most dominant retail power centers in the Southeast, showcasing some of the most profitable and recognized retail brands in the United States, including Best Buy, Dick’s Sporting Goods, Belk, H&M, and Petco.

Situated on 96.34 acres in one of the most active retail trade areas in the state of Tennessee, the property comprises six multi-tenant buildings, eight freestanding outparcels, and five vacant pads.