GBT announces development of The Shoppes of Northgate

Nashville, Tenn. -- GBT Realty Corporation announced it acquired a 13.1-acre site along Memorial Blvd in Murfreesboro, Tennessee for $2.4 million. The company plans to develop the site into The Shoppes of Northgate, a 98,000-sq.-ft. center anchored by a 30,000-sq.-ft. Sprouts Farmers Market, along with retail tenants PetSense, Liquor Barn and Newk’s Eatery. The construction of the $16 million retail center is expected to begin this month with store openings set for spring 2016.



“Murfreesboro is the fastest growing city in Tennessee and the sixth largest city in the state,” explains Jeff Pape, managing director, shopping center division, GBT. “The area is experiencing rapid growth in both the industrial and commercial sectors and is a logical target for new investment – and retail expansion – in our home state.”



With the announcement of Northgate and recent announcement of Village 21 at Regions Park, a $45 million mixed-use development in Nashville, Tennessee, along the development of Crestview at The Summit, a 15-acre mixed-use development GBT currently has approximately $161 million of commercial space under development in the Nashville region.