Cushman & Wakefield announced Wednesday that it facilitated the sale of a Brentwood retail property for $6.25 million.
A multi-tenant retail strip next to Maryland Farms YMCA’s 17-acre redevelopment project sold to Pradeep and Ranjna Agnihotri, owners of three Holiday Inn Express locations with their sons — one of which is part of the Berry Farms development — and another in Murfreesboro along with a Sleep Inn. At 204 Ward Circle Center, the property’s 20,500 square feet are currently about 77 percent leased, home to Mills Uniform Company, Resilient Health & Performance and Pro Cleaners. A large, vacant space in the building was previously occupied by a David Deaton Karate Studio.
Michael Havens, Ronnie Wenzler and Madison Wenzler at Cushman & Wakefield represented Franklin-based investment company Tower Trust in the sale to the Agnihotri family.
“The level of interest we were able to generate for this offering, both locally and regionally, shows the continued strength of the market and interest in Brentwood as well as smaller retail investments,” Havens said.
The YMCA of Middle Tennessee announced over the summer its intent to commence the next phase of their One Brentwood plan by combining their two locations and selling their current Maryland Farms property to North Carolina-based Highwoods Properties. The Maryland Farms Y is still operational as it will continue to be until 2023.
Cushman & Wakefield is among the foremost and largest global real estate services firm with about 50,000 employees and 400 offices across 60 countries. As of 2020, the firm’s core services had generated $7.8 billion.