Anchor Investments
The partners of Anchor Investments have developed and repositioned numerous properties since 1994. A sample of these assets are listed below:
  • Maples Shopping Center — Franklin, TN — Located in the desirable Franklin retail sub-market, Anchor purchased the 84,423 SF center in 2012. The mature, stabilized center has excellent visibility along Highway 96 and is anchored by Steinmart. There are several national tenants occupying the center, and the center’s occupancy rate is 98%.
  • 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. Within 60 days of purchase, Anchor signed 3 new leases – substantially increasing the occupancy rate.
  • 2970 John Hawkins Parkway — Hoover, AL — Purchased from a special servicer in 2012, this free-standing 12,500 single-tenant retail building is 100% occupied with a national tenant. The highly-visible property is located just down the street Riverchase Galleria, a 3.5 million SF regional shopping mall.
  • 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. Anchor has sold 7 of the lots and has a contract with a builder to build on the remaining 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 100% 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 after the original borrower defaulted on the loan. 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.  The center is currently 96% leased and is located on Fort Campbell Boulevard approximately 10 miles from the 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 90%+, and significant capital improvements were made to the building after the purchase.
  • 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 retail center from a special servicer at a discounted value in 2011. Anchor arranged a “friendly foreclosure” on the property and now owns a 100% occupied center with several national tenants, recently renewing two major tenants long-term leases.
  • 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.
  • Matthews Plaza – Matthews, NC – This former Super K-Mart 138,000 SF shopping center was purchased in 2005 as a vacant center with considerable deferred maintenance. The new owners sold an outparcel to a restuarant user and leased the shopping center to a 98% occupancy level and ultimately refinanced in 2007 with a conduit lender.
  • 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 on at least 10+ year lease terms.
  • 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.