Coro Realty Announces the Acquisition of a Stake in Madison Street Commons
Coro Realty Advisors, LLC announces the acquisition of a majority interest in Madison Street Commons. The property is located at the intersection of Madison Street and Memorial Drive in Clarksville, Tennessee. Madison Street Commons consists of three retail buildings totaling 72,940 square feet. Madison Street Commons was developed by PGM Properties, LLC, which retained its ownership in the property.
Madison Street Commons blends stable cash flows from its anchor, Publix, and gradual rent growth from strong shop tenants like Five Guys, H&R Block, Massage Envy and Which Wich. Robert Fransen, Partner of Coro, noted, “Madison Street Commons’ tenancy is hard to beat. We expect it to be a solid ‘coupon clipper’ for years to come. Plus, we are very excited by what we hope will be the first of many joint ventures with PGM.” J. Dudley Parker, Principal of PGM Properties, added, “we are proud that we were able to convert an abandoned hospital site into a first class retail property, and were gratified that Coro wanted to see through that development with us.”
Madison Street Commons is one of only two Publix-anchored centers in Clarksville, TN, a city with approximately 140,000 residents near to Fort Campbell (home of the 101st Airborne Division) and home to Austin Peay State University.
Coro Realty Advisors was founded in 1997 and is synonymous in the Southeast with intelligent real estate development and investment. The firm provides Asset Management, Investment, Property Management and Real Estate Advisory Services for a myriad of residential and commercial properties throughout the Southeastern United States.
PGM Properties is a full-service commercial development, leasing and management company focusing on quality retail shopping centers. With over 75 years of direct commercial real estate experience among the three principals, PGM Properties possesses the dedication and wisdom necessary to carry projects from inception to completion.
For more information on this property contact:
Teresa Pastore
Coro Realty Advisors, LLC
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia 30327
(404) 846-4000
www.cororealty.com