ST. PETERSBURG, FL – The Sembler Company and Forge Capital Partners, through their Forge Real Estate Partners investment fund (“FREP V”), recently acquired Lynnwood Place, a 96,613-square-foot, Kroger anchored shopping center located at 941 North Parkway in Jackson, Tennessee.
The store is the only Kroger located south of Interstate 40 in Jackson, making it a primary grocery destination for area residents and employees. Lynnwood Place sits at the intersection of North Parkway and Highway 45, benefiting from visibility and access to more than 65,000 vehicles per day, with convenient access to Interstate 40. The center is currently 82% occupied and features a mix of national and regional tenants, including Domino’s Pizza, Cato, and Spectrum, alongside 17,515 square feet of small-shop space available for lease-up.
“Lynnwood Place checks every box for our investment strategy, a dominant grocery anchor, a long-term lease commitment, and clear upside through lease-up,” said Sembler CEO Greg Sembler. “Jackson is an important market in West Tennessee, and we’re excited to be part of that community.”
Sembler will serve as Property Manager and Leasing Agent. For leasing inquiries, please contact Serina Morison at serina.morison@sembler.com.
Through their funds, Sembler and Forge have now acquired 25 shopping centers together across Florida, Georgia, North Carolina, Tennessee, Virginia, and Texas. The partners remain actively engaged in seeking additional investments in grocery-anchored shopping centers throughout the Southeast.
FREP V focuses on acquiring, developing, and redeveloping retail real estate projects in the southeastern United States. As a community development entity, FREP V aims to provide strong investor returns while fostering economic revitalization, business development, and job creation in underserved communities. Investors include public financial institutions benefiting from Community Reinvestment Act credit for these investments.
About The Sembler Company
Founded in 1962, The Sembler Company is a family-owned and -operated commercial real estate company that offers a full roster of services including development and redevelopment, acquisition, leasing and property management. Headquartered in St. Petersburg, Fla., the company has completed more than 350 developments totaling 29 million sq. ft. with eight million sq. ft. of real estate leased and managed. For more information visit sembler.com.
About Forge Capital Partners
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. The firm carries out its business strategy by sponsoring value-add retail real estate private equity funds. Since 2000, Forge and its principals have successfully sponsored real estate-oriented, closed-end private equity funds, and executed over $1 billion of retail and multifamily real estate transactions. Forge is headquartered in Tampa, Fla. For more information about Forge Capital Partners, please visit forgecapitalpartners.com
