Avison Young arranged the sale of RiverGate Mall, a 514,894-square-foot retail complex on a nearly 60-acre site at 1000 Rivergate Parkway in Goodlettsville, Tennessee, for $33 million to Cincinnati-based Merus (formerly Al.Neyer).
The transaction is the largest retail disposition by square footage in the Nashville MSA in the past five years.
Avison Young Vice President of Retail Capital Markets, Jordan Powell, spearheaded the transaction along with Managing Director and Principal Lisa Maki and Principal Mike Jacobs representing Merus in the acquisition as well as the sellers of the former Macy’s and JCPenney portions of the mall. Franklin Street managing partners Bryan Belk and John Tennant represented Hendon, the seller of the Sears portion and the remaining mall infrastructure.
The property is slated to be redeveloped into a mixed-use destination with residential (multifamily and senior living), retail and hospitality uses. Construction is expected to begin in late 2026/early 2027.
