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JLL completes sales of CarMax properties in Nashville, Memphis
Nashville, Tenn, June 20, 2016 - JLL’s Capital Markets today announced the sale of two CarMax properties in the Southeast: CarMax Nashville and CarMax Memphis. Thompson National Properties, advisor on behalf of the ownership group PKD GP, bought the Nashville asset, and CAR CMX TN MEM, L.L.C bought the Memphis asset, which is also managed by JLL.
Managing Director Kris Cooper of JLL Atlanta led the JLL team on the deal.
“CarMax has a great national brand and credit,” said Cooper. “Those factors, combined with the fact that Nashville and Memphis are some of the most solid markets in Southeast, helped the sales process move quickly.”
CarMax Nashville and CarMax Memphis both feature an absolute net lease structure. CarMax Nashville is prominently located in the Oaks Mall area and at the busy intersection of I-65 and I-440, while CarMax Memphis is the only CarMax store in that market.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2015 alone, JLL Capital Markets completed $140 billion in investment sale and debt and equity transactions globally. The firm’s Capital Markets team comprises more than 2,000 specialists, operating all over the globe.
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JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $58.3 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.