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August Commercial Sales Update

September 9th, 2010

There were 37 commercial sales reported in August totalling $292.5 million. While the total number of sales were down 12% from the prior year, the total sales revenue was up 30% and average sales prices were up 47% to $810,381.

The largest commercial sale was 2382 Germantown Parkway in Cordova. The Shops at Rock Creek located at the corner of Germantown Parkway and Rockcreek Parkway sold for $4.4 million to Southstar Holdings-UNCC LCC. This was a bank sale from a property foreclosure by Wells Fargo in October 2009. Click here to read more details about this sale.

Vacant Land over 1 acre had seven total sales for the month, the most of any property type.

Bartlett’s 38134 zip code had the most sales for the month with 28 totalling $11.7 million.

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