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JLL is pleased to announce the opportunity to acquire Shops of Forest Hill, a double-grocer anchored investment opportunity located in Germantown, the most affluent submarket in Memphis boasting average household incomes in excess of $160,000 within a 3-mile radius. The center is 98% occupied and includes high performing tenants including Sprouts (#1 most visited Sprouts in TN), Malco (with a significantly below market rent), Marshalls, Target (shadow), and Home Centric.
The center is positioned in the heart of Germantown, which has seen a rapid expansion and an inflow of unmatched wealth. Since 2019 over 1,000 multifamily units have been delivered and another 2,700 are under construction or proposed. There is also over 840,000 SF of office and 350,000 SF of retail under construction or proposed within a 5 mile radius. This growth is built upon the presence of some of the largest corporations in the world including FedEx, International Paper.
Please reach out to the deal team to learn more about this asset!
- #1 Most Affluent Customer Base in Memphis
- Germantown, TN - An Explosive and Dynamic Market
- Super Regional Access
- Grocery Anchored With Significant Term Remaining
- Exceptional Income Security
- Disposition Optionality