Press Release: PEBB Enterprises Makes Its Largest Acquisition
FOR IMMEDIATE RELEASE
PEBB Enterprises Makes Its Largest Acquisition
PEBB Enterprises announces the recent purchase of Germantown Village Square, a mixed-use power center in Memphis, Tennessee. The $28M purchase makes the transaction the company’s largest acquisition to date.
Germantown Village Square is PEBB’s second retail property in Tennessee. The 199,629- square foot mixed-use power center comprises 139,482 square feet of ground floor retail shops featuring national and local retailers including TJ Maxx, DSW and Petco as well as 60,147 square feet of second floor office, predominantly occupied by The West Clinic, a subsidiary of Baptist Memorial Health Services.
“The real estate fundamentals of Germantown Village Square epitomize the acquisition criteria that we look for in our growing portfolio”, said Rob Truett, Director of Investments. “The strong demographics, high traffic counts and surrounding retail are simply outstanding and reflect some of the ‘best in class’ retailers. These fundamentals, coupled with our ability to create value through leasing make this an ideal acquisition for our group.”
PEBB is actively pursuing tenant occupancy for the remaining space in the center.
PEBB Enterprises, based in Boca Raton, Florida, is a full-service, vertically integrated private equity real estate investment company specializing in the acquisition, development, construction, operation and management of commercial property. Since its formation in 1973, PEBB has remained a private, familyowned and operated company that takes great pride in maintaining quality properties and cultivating superior relationships with our tenants and strategic partners. For more information about PEBB visit www.pebbent.com.