BIRMINGHAM, Al. (May 10, 2018) – Birmingham-based commercial real estate firm Bayer Properties announced today that it has been awarded the third-party management assignment for The Shops at Carriage Crossing in Collierville, a suburb of Memphis, TN. The 712,000-square-foot shopping destination is an open-air mixed-use center. Bayer Properties began managing the property this month.
Currently The Shops at Carriage Crossing is home to more than 70 retailers and restaurants, including stores such as Dillard’s, Macy’s, H&M, Bed, Bath and Beyond, Barnes & Noble, Sephora, LOFT, Victoria’s Secret, Francesca’s and several restaurants, including Bonefish Grill, Firebirds, and Carrabba’s Italian Grill. The property also includes a 128-room Courtyard® by Marriott hotel, which boasts an average occupancy rate of 90 percent.
The Shops at Carriage Crossing is located near some of the area’s top family-friendly venues, including the Mike Rose Soccer Complex, which attracts 620,000 visitors annually, and the new $94 million Collierville High School slated to open in August 2018. Upon completion, the new high school will serve 3,000 students and be the largest in the state of Tennessee. Additionally, the shopping destination is surrounded by several company headquarters, including the FedEx Corporate Technology Center with 2,400 employees.
“We see tremendous opportunity for The Shops at Carriage Crossing to create a sense of place for Collierville and the surrounding communities,” said Doug Schneider, Executive Vice President of Operations at Bayer Properties. The key to establishing Carriage Crossing as a destination is ensuring the property has the right mix of retail, restaurants, and experiences to appeal to the entire family.
Bayer Properties was awarded the third-party management assignment at The Shops at Carriage Crossing based on the company’s ability to develop a vision and plan for creating a demand-based shopping destination while differentiating the center from market competition.
For more information about Bayer Properties, visit: bayerproperties.com.
About Bayer Properties:
Birmingham, Alabama-based Bayer Properties LLC specializes in developing, leasing, managing and marketing mixed-use real estate properties nationwide. Bayer Properties currently owns and/or operates assets totaling approximately 10 million square feet, including The Summit in Birmingham, Alabama, Mount Pleasant Towne Centre in Mount Pleasant, South Carolina, The Summit in Reno, Nevada, and The Summit at Fritz Farm in Lexington, Kentucky. For more information, visit bayerproperties.com.