Anchor Investments
The partners of Anchor Investments have developed and repositioned numerous properties since 1994. A sample of these assets are listed below:
  • Towne Centre North — Jackson, TN – This 50,500 SF shopping center was purchased from a special servicer in 2012. The center is strategically located in the Vann Drive/Columns retail submarket, the largest retail trade area between Memphis and Nashville. When Anchor purchased the center, the occupancy rate was 45%, and there was a lot of deferred maintenance.  Within 18 months of purchase,  Anchor signed 8 new leases – highlighted by a long-term, 19,000 SF lease with ALDI Inc. - taking the center’s occupancy to 100%.  Anchor also made numerous capital improvements to the center.
  • Meridian Place Shopping Center — Asheville, NC — Anchor purchased this 29,000 SF multi-tenant shopping center in 2014.  The center was developed in 2007 and fell victim the Great Recession.  Anchor purchased from the original Lender at a discounted price and signed a lease shortly after purchasing the center, taking the occupancy to 85%.
  • 2970 John Hawkins Parkway — Hoover, AL — After purchasing from a special servicer in 2012, Anchor leased the free-standing, 12,500 single-tenant retail building to a publicly-traded tenant on a long-term lease. The highly-visible property is conveniently located to the Riverchase Galleria, a 3.5 million SF regional shopping mall and several power and lifestyle centers.
  • Maple Row Shopping Center – Hendersonville, TN – Anchor acquired this former K-Mart-anchored shopping center in 2014.  The 164,000 SF center was just 45% leased at the time of purchase.  Anchor plans to re-tenant the well-located center in the affluent Hendersonville sub-market of Nashville.
  • 907 Vann Drive — Jackson, TN — Anchor purchased this Starbucks-anchored shopping center in 2013 from an absentee, California-based Owner who wanted to sell.  Anchor recently signed AT&T Wireless and Firehouse Subs to long-term leases, taking the center to a 100% occupancy level.
  • Forest Hill Technology Center — Germantown, TN — Anchor purchased this office park from a special servicer in 2014.  Anchored by FedEx and only 63% occupied at the time of purchase, Anchor purchased the property at well below replacement cost and has enjoyed substantial leasing interest.
  • 609 Enon Springs — Smyrna, TN — This 120,000 SF single-tenant, industrial building was purchased by Anchor in 2014.  Nissan North America is the tenant of the building, and the building is located directly across the street from Nissan’s manufacturing facility – now the largest automotive manufacturing facility in the world.
  • 510 S. Jefferson Street — Cookeville, TN — This former Blockbuster Video building was purchased by Anchor in 2013, and Anchor signed a long-term lease with a regional dentistry tenant who occupies the entire building.
  • 302 South Royal Oaks — Franklin, TN — Anchor purchased these 21,000 SF adjoining office buildings in 2014 and signed long-term leases with Vanderbilt University for some of their physician groups, thus stabilizing the property for the foreseeable future.
  • Duncanwood Reserve — Nashville, TN — Anchor purchased an eight acre land tract in 2012 and has developed a 15 home site subdivision in the affluent Green Hills area of Nashville. By mid-year 2014, Anchor had sold all of the lots.
  • Gallatin Center – Gallatin, TN – Anchored by Tractor Supply and Burkes Outlet, the 138,000 SF Gallatin Center is a long-standing destination in the Gallatin submarket. The center was purchased in 2010 out of bankruptcy from a life insurance company. At the time of purchase, the property had a 59% occupancy rate and numerous deferred maintenance issues. The partnership has invested significant capital to update the center, which resulted in increased traffic and a 90% occupancy rate. Anchor sold the property in 2012 to a regional shopping center owner.
  • 8099 Moores Lane – Brentwood, TN – Located in the desirable Cool Springs submarket, this prominent 43,000 SF building was purchased from a special servicer. The new partnership closed on the transaction within 30 days of signing the purchase and sale agreement and entered into a long-term lease with a large, regional retailer.
  • Park Plaza Shopping Center– Hopkinsville, KY – Anchored by Big Lots and Dollar General, the 119,000 SF shopping center has been a stabilized, mature center in the Hopkinsville-Clarksville retail trade area for decades.  Anchor recently signed long-term leases with Planet Fitness and Petsense, thus taking the center to a 99% occupancy rate.  The center is located on Fort Campbell Boulevard approximately 10 miles from Fort Campbell Army Base.
  • 1806 Williamson Court (Studio Suites) – Brentwood, TN – This 19,000 SF office building in Nashville’s dominant retail and office submarket has 55 suites and primarily serves tenants in the beauty industry.  The building has an occupancy rate of 95%+, and significant capital improvements have been made to the building since the purchase.
  • The Maples Shopping Center — Franklin, TN — Anchor purchased this Steinmart-anchored 85,000 SF shopping center in the desirable Franklin sub-market in 2012.  After successful leasing efforts and capital enhancements, Anchor sold the center in 2014 to an investment group.
  • The Maxwell Condominiums – Nashville, TN – Located in the desirable West End/Vanderbilt area of Nashville, this 12-unit upscale condominium project was originally developed in 2009. Anchor purchased the unsold inventory (10 units) in 2011, of which most of the units needed significant renovation. Anchor sold all of the units within 12 months of purchase.
  • Long Place Condominiums – Nashville, TN — Located in the desirable West End/Vanderbilt area of Nashville, this 10-unit condominium project was developed in 2011 after the land was purchased at a discounted value from a regional bank. Anchor sold all of the units within 12 months of the project’s completion.
  • Emporium Plaza – Jackson, TN – This well-located strip retail center was purchased from a special servicer in 2011. At the time of purchase, the center had a 65% occupancy rate and some deferred maintenance. Anchor leased all of the vacant units and sold the center in 2012.
  • Southridge Plaza – Jackson, TN – Located on an outparcel within a large retail development anchored by Walmart and Lowe’s, Anchor purchased a note securing this 12,000 SF retail center from a special servicer at a discounted value in 2011.  Anchor arranged a “friendly foreclosure” on the property,  renewed several major tenants long-term leases and sold the property in 2013.
  • 540 New Salem – Murfreesboro, TN – Anchor purchased a note securing this 102,000 SF industrial property from a regional bank at a discounted value in 2009. Anchor was paid the unpaid principal balance when the note matured in 2011.
  • Glen Echo Subdivision – Nashville, TN – Located in the prestigious Green Hills area of Nashville, this sixteen-lot subdivision was initially developed in 2007. The partners of Anchor purchased the remaining lots from a regional bank after the original Developer experienced financial distress. After the acquisition, Anchor has assumed the role of the subdivision’s Developer – developing and selling multiple homes and selling multiple lots as well. Anchor completed this project in 2011.
  • MAPCO Place – Brentwood, TN — This 54,000 SF property was build-to-suit office project completed in 2007 to house the corporate offices of Mapco Express and Delek US Holdings. The owners secured a long-term lease with Mapco Express and sold the property in early 2008.
  • Cool Springs Commons – Brentwood, TN — Formerly the corporate headquarters for the Service Merchandise Company, this 350,000 square foot asset was bought out of bankruptcy and successfully repositioned as a multi-tenant building. In just three years, the property was stabilized and sold.
  • Protective Life Building – Brentwood, TN — This 33,000 square foot Class A building was anchored by Protective Life Insurance. The building was developed in 1998 and sold it in early 2008.
  • Noel Place – Nashville, TN – This historic 100,000 square foot office building located in downtown Nashville. This asset was purchased with a nearly 50% vacancy rate, then was successfully brought up to 85% occupancy before it was sold.
  • Radisson Suite Resorts – Hilton Head, SC – The 156-suite hotel property was purchased from the RTC. The owners oversaw a complete renovation of guest rooms and common areas and the successful repositioning of the property, at which time the asset was sold.
  • Westgate Commons – Brentwood, TN – This property was a sixty-acre mixed-use land development. After successfully selling approximately seventy percent of this development to restaurant and office users, the owners developed several office properties on the remaining land.
  • Mooresville Crossing – Mooresville, NC – This 72,000 square foot multi-tenant shopping center was developed in 2007 and has been leased up to a 98% occupancy level with all anchor tenants having long-term leases.  The center was refinanced with a conduit lender in 2014.
  • Ashley Furniture HomeStore – Greenville, SC – A 44,000 square foot free-standing retail property, this property was re-developed in 2005 and sold in a sale leaseback transaction in 2007.