LEXINGTON, KY. – BC Wood Properties has completed the sale of Gallatin Center, a 138,238 square foot shopping center located in Gallatin, Tennessee. The shopping center has a national lineup of tenants including Burke’s Outlet, Ollie’s, Tractor Supply, Hibbett Sports and Goodwill. At the time of acquisition, the center was 80 percent occupied. BC Wood Properties executed a focused leasing plan for the center, improving occupancy to 99 percent prior to the sale.
“Our acquisitions team excels at finding well-located, value-add shopping centers that service necessity based shoppers. We saw the potential in Gallatin Center and we were able to use our resources to greatly increase the net operating income and generate a substantial return for our investors,” says King Offutt, President of BC Wood Properties.
BC Wood Properties is a Lexington, Ky. based commercial real estate company in its 22nd year of business. The Company focuses exclusively on the acquisition and operation of value-add retail shopping centers in the Midwest and Southeast regions of the U.S. BC Wood Properties currently owns, leases and manages 37 shopping centers in 11 states, comprising 5.3 million square feet.