Anchor Commercial Development has acquired the former YMCA of Murfreesboro property, 205 N. Thompson Ln., in Murfreesboro, Tennessee, for $3.5 million.
Anchor Commercial Development plans to develop a new 100,000-square-foot retail center on the 9.5 acres, which will be known as Stones River Place.
Located in the heart of the retail shopping in Murfreesboro and accessible by two exits off I-24, the high-end center will be developed in two phases. The first phase will consist of 44,000 square feet and is slated for a January 2017 delivery.
Spencer Hunt, associate with Avison Young‘s Retail Services group, represented Anchor Commercial Development. Greg Coleman, associate broker with Southeast Venture, represented YMCA of Middle Tennessee.