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Dallas Firm Enters TN With 850,000-SF Retail Buy

NASHVILLE-The acquisition of the 100 Oaks Mall also includes the 100 Oaks office tower, connected to the enclosed shopping mall.

By Melissa Kress | Updated on December 07, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

NASHVILLE-The sale of an 850,000-sf retail asset here involved two firsts: it was the first Tennessee buy for a Dallas investment firm and 100 Oaks Mall was the first enclosed shopping mall built in Nashville, back in 1967.

100 Oaks Plaza LLC, led by Anthony T. Ruggeri and Frank Mihalopoulos, purchased the retail asset and the adjoining 100 Oaks office tower from Belz Enterprises of Memphis. The prior relationship between the two sides facilitated the Dallas-based firm’s entrance into the market, a spokeswoman for the buyer tells GlobeSt.com. Mihalopoulos declined to reveal the acquisition price, and tells GlobeSt.com that the cap rate is no really applicable because it is a redevelopment. “This was not bought as an income-producing property,” he explains. JP Morgan financed the deal.

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