NASHVILLE-In yet another sign that the retail market is recovering in the Southeast, sporting goods chain Dunham Sports has inked a $2 million, 10-year lease for 34,600 square feet at Jackson Plaza. Dunham will be the first big box sporting goods store in Cookesville.
Jonathan Gould, CEO of Stonemar Properties, which owns and manages the shopping center, brokered the transaction. The Shopping Center Group represented Dunham Sports. Stonemar is funding a $600,000 build out.
“We’ve successfully been able to fill the vacancy that was created by Goody’s going out of business,” Gould tells GlobeSt.com. “We repositioned the center when we bought it. Before Bi-Lo went bankrupt, they got out of the market and we were able to effectuate a buyout of their lease and bring in a Food Lion.”
Anchored by an 80,000-square-foot Sears store and a 59,000-square-foot Belk department store, Jackson Plaza is the largest shopping center in the growing Cookeville trade area. Other anchors include TJ Maxx, Old Navy, Petco, and Factory Card Outlet. The center is now 97% occupied.
“We look for Dunham’s to achieve results beyond its expectations as has The Children’s Place, a national children’s clothing retailer which opened in Jackson Plaza last September,” says Gould, noting that Rue 21, an existing tenant, is wrapping up construction of a larger space adjacent to Food Lion.
Cookeville, a growing city midway on I-40 between Nashville and Knoxville, is the trade center for over 200,000 people and has annual retail sales of about $1.16 billion, according to Gould.
“Cookeville has excellent traffic and accessibility to 25,000 people who travel daily to work,” Gould says. “The Cookeville area has a diversified employment base, a hospital that employs over 1,800 employees, local symphony, drama playhouse, museums, and recreation opportunities, and it is home to Tennessee Tech University with 11,800 students.”
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