Sarofim Pays $62.7M for Brentwood Place

LaSalle Investment Management Sells Shopping Center in Brentwood
January 23, 2008

Sarofim Realty Advisors has purchased the Brentwood Place Shopping Center, a 315,000-square-foot property at 330 Franklin Road in Brentwood, TN, from LaSalle Investment Management for $62.75 million, or approximately $200 per square foot.

The center is positioned on 30 acres in one of the wealthiest zip codes in Middle Tennessee, where the average income tops $75,000 and the median home value is nearly $379,000. The center is anchored by Borders Bookstore, Kroger, Stein Mart, Office Depot and T.J. Maxx.

Sarofim Realty Advisors was self-represented in the purchase, while Whitney Knoll and Jim Hamilton of The Staubach Co. of Atlanta represented the seller. Baker Storey McDonald Properties was retained to manage and lease the property.