2101 Brookmeade Dr
Columbia, TN 38401

The Dumes Falk Group of Marcus & Millichap is pleased to bring to market Brook Meade Towne Center, a two-tenant Walmart shadow anchored center in Columbia, Tennessee – fifty-miles southwest of the state capital, Nashville. The subject property is comprised of 116,403-square feet and situated on approximately 9.28 acres with ample parking, multiple points of ingress/ egress, signage and positioned within a highly trafficked corridor. Brook Meade Towne Center is currently 100 percent occupied by two-tenants, Belk and Dunham’s Sports. Belk was founded in 1888 and is a private American department store chain with over 300 locations in 16 states throughout the Midwest and South providing southern style brands, accessories and home furnishings. Belk occupies 64,917-square feet or 56 percent of the GLA under a triple-net lease through 2023. Dunham’s Sports, a regional sporting goods superstore with over 230 locations in 22 states through the Midwest and South. Dunham’s Sports occupies 51,486-square feet or 44 percent of the GLA under a gross lease through 2023. Dunham’s Sports has been in the center since 2011 while Belk has occupied the center since 2003. Brook Meade Towne Center is situated off of Carmack Boulevard near State Route 50 (James M Campbell Boulevard), a highly trafficked four-lane retail thoroughfare which sees approximately 25,600 vehicles per day. Adjacent to Brook Meade Towne Center are two newly built strip centers which demonstrations an increase in demand and limited supply of retail within the immediate vicinity. The subject property is shadow anchored by a Walmart Supercenter and Columbia Mall, a 282,272-square foot one-story enclosed mall anchored by JCPenney, Columbia Powersports Supercenter, Bath & Body Works and Maury Regional Hospital-Radiation. Columbia Mall was purchased in 2009 by Hull Property Group, one of the nation’s largest privately-owned retail real estate companies with an owned portfolio in excess of 14.5 million square feet. The vice president of government relations for Hull Property Group stated in March 2017 that the future of the mall will not be enclosed and is slated for a renovation. Brook Meade Towne Center is located in the heart of the main retail corridor within the city giving it a large draw from the local residential communities. Notable tenants also within the corridor include, Save-A-Lot, Ace Hardware, Tractor Supply, Aldi, Office Max, Ross, TJ Maxx, Ollie’s Bargain Outlet, Hobby Lobby, Kroger, Dollar General and Big Lots. This densely populated corridor is home to more than 7,000 employees within one-mile, 32,000 in three-miles and over 41,000 in five-miles. Within three-miles are more than 27,000 residents which has steadily increased by approximately six percent since 2000 with average household incomes exceeding $52,000. Columbia is seeing positive trends in their business and residential development. As of 2016, Columbia is enjoying the fastest declining unemployment rate in the state and is now posting an unemployment rate of 3.9% which is attributed to the job growth in the area. For residential development, Columbia has over 500 units of townhomes and apartments being developed on State Route 50 due to the mix of national retail brands, with more applications still being received. Brook Meade Towne Center provides an incoming investor the ability to acquire a stabilized center occupied by two large regional tenants within a dominant retail corridor. Strong historical occupancy and a prominent location within the corridor provides Brook Meade Towne Center the ability to be an integral part of the community and should continue to serve as a popular destination for local residents, employees and travelers alike.