Barnes Crossing Plaza sold to Calif. investment firm
The 157,700-square-foot retail center at 4262-4398 Mall Dr., sold on Jan. 8 to CPP Barnes Crossing SPE LLC, an affiliate of Columbus Pacific Properties.
What the company paid for the retail center was not disclosed.
Columbus Pacific Properties, a national real estate investment company based in Santa Monica, Calif., purchased Barnes Crossing Plaza from Sun Life Assurance Company of Canada, who acquired the property in 2006. Johnny Lamberson and Terry Radford, both of CB Richard Ellis Memphis, represented the seller in the transaction.
CBRE Memphis has managed and leased the property since 2008 and will continue to do so under the new ownership.
Barnes Crossing Plaza sits at the northern entrance to The Mall at Barnes Crossing.
Built in 1996, Barnes Crossing Plaza is anchored by Hobby Lobby, TJ Maxx, OfficeMax, Toys R Us and Burkes Outlet. It also includes national and regional retailers Weight Watchers, ATC Fitness, Oreck and Hut No. 8.
Officials say Barnes Crossing Plaza is 96.8 percent occupied.