We are pleased to announce the acquisition of Gadd Crossing, an Aldi-Anchored Shopping Center located at 5510 TN-153 in Hixson Tennessee. Gadd Crossing is a 94% occupied, newly renovated shopping center that features a 22,323 square foot Aldi. The property is located approximately 7 miles north of downtown Chattanooga and adds a secure and stable income stream to FNRP’s growing portfolio of premier real estate assets throughout the United States.
“Entering the Tennessee market has been a company goal of ours so we are very excited to be acquiring Gadd Crossing, a landmark asset in the Chattanooga market”, said Matt Annibale, Director of Acquisitions at FNRP. “Aldi is one of the fastest-growing grocery chains in the country and they recently made a significant reinvestment in their store at the center. They are complimented here by a strong lineup of internet-resistant, daily needs tenants, which is a key attribute of the center.”