The Avenue Murfreesboro on the market, under contract

The Avenue Murfreesboro on the market, under contract (Image 1)
The Avenue Murfreesboro on the market, under contract (Image 1)

A popular Murfreesboro shopping center could soon be sold.

The Tennessean reported that The Avenue is already under contract and could get a record price for a non-mall, open-air property.

The current record is the Turkey Creek retail complex in Knoxville, which sold for $135 million.

The newspaper said several real estate observers believe the potential buyer is most likely an investment trust, pension fund insurance company, as opposed to an individual.

The Avenue, boasting 810,000 square feet, is 85% leased, and has several key stores, including Belk, Barnes and Noble, and Best Buy.

*The Tennessean contributed to this report.

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