MEMPHIS (Sept. 24, 2018) – Bayer Properties and Germantown Collection have welcomed first-to-market Trader Joe’s, the popular Monrovia, California-based grocer, to the mixed-use center situated in the affluent Memphis suburb of Germantown.
Trader Joe’s has been eagerly awaited by the community and will serve the nearly 160,000 residents in the area.
Late last year, Bayer Properties, the Birmingham-based commercial real estate firm responsible for leasing and managing the center, made a move that would set the stage for a new wave of first-to-market retail. A redevelopment of the space has transformed it into three new storefronts, increasing gross leasable space and creating opportunity to bring new concepts to the market.
“The relocation of the previous grocer tenant allowed us to transform the large space into three smaller storefronts, providing an opportunity to maximize tenant occupancy and bring new specialty retailers to the area,” said Libby Lassiter, EVP of Leasing and Development at Bayer Properties. “We are thrilled to welcome the first Trader Joe’s to Memphis and look forward to announcing more exciting tenants that will cater to the Germantown community.”
Bayer Properties also built an adjacent 7,000-square-foot outparcel that will house Chicken Salad Chick, a fast-casual chain of chicken restaurants based in Auburn, Ala. The new dining destination is expected to open in November 2018.
For more information on Germantown Collection, visit: http://www.bayerproperties.com/property/germantown-collection/
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 retail and office properties totaling approximately 10 million square feet, including The Summit in Birmingham, Alabama, Mount Pleasant Towne Centre in Mount Pleasant, South Carolina, Metropolitan in Charlotte, NC, and The Summit in Reno, Nevada. New developments include The Pizitz urban revitalization project in Birmingham, Alabama, and The Summit at Fritz Farm, a mixed-use project in Lexington, Kentucky. For more information, visit bayerproperties.com.