(PRESS RELEASE) CINCINNATI, OH — In the latest addition to its Southeast U.S. portfolio, Last Mile Investments, the pre-eminent operator and investment manager focused on the multi-tenant “last mile retail” sector in the United States, has acquired The Shops at Mallory in the greater Nashville market. Terms were not disclosed.
Located at 1731 Mallory Lane in Brentwood, Tennessee, The Shops at Mallory comprises 26,114 square feet including prominent service-oriented and convenience-focused tenants such as Massage Envy, Sola Salon Studios, and Genesis Diamonds. It is situated in the heart of the dominant retail submarket known as Cool Springs, on a highly trafficked intersection near Interstate 65 and Route 441, close to the CoolSprings Galleria Mall, Costco, and other major retailers.
“We are thrilled to be adding to our presence and portfolio in Nashville, with an asset and location that perfectly aligns with the quality, stability and growth profile we seek for our Investor base,” said Ryan Moore, CEO and Co-Founder of Last Mile Investments. “We are deeply committed to expanding our presence in this exceptional and growing region and around the country.”
Located south of Nashville, Brentwood has been cited as one of the most affluent and desirable suburbs in the United States.
The acquisition is the latest addition to Last Mile’s rapidly expanding portfolio, which has grown to 16 different MSAs.
Jim Foley of Foley Real Estate represented the seller in the transaction; Avison Young’s Jordan Powell represented Last Mile Investments.
About Last Mile Investments
Last Mile Investments (LMI) is the pre-eminent retail operator and investment manager focused on the multi-tenant, “last mile retail” sector across the U.S., a sector that is defined by the most convenient, highly trafficked, and in-demand locations within highly desirable suburbs across the United States.
This asset class is often mis-understood and mis-managed, and hence overlooked; but, in reality, these centers are the backbones of the areas they serve given their prominent locations, with broad and increasing demand from daily and essential service (hair, dental, urgent care, and vision, among others) and food uses.
As a leadership team boasting more than five decades of experience in every aspect of retail investing, operations, and value creation, including senior roles at several of the largest retail real estate platforms in the United States, we have dedicated our platform to the Last Mile retail sector given the quality of real estate and secular tailwinds. This commitment is a direct result of our focus on producing the highest risk-adjusted returns, throughout cycles on behalf of our Investor base.
The “Last Mile” is where we will not only live, but work, eat, and demand our essential services to be.