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The Providence Marketplace sold to new owners

The Providence Marketplace, located in Mt. Juliet was sold last week to Ramco-Gershenson Properties Trust, based in Farmington Hills, Michigan.

The Providence Marketplace sold for $114.7 million, which was one of the largest real estate deals in recent years. It has been stated that the purchase is the ninth-largest real estate transaction in Middle Tennessee since 2005.

Ramco-Gershenson Properties Trust owns and manages a portfolio of 66 shopping centers nation- wide, according to the company’s website. The Providence MarketPlace is the company’s first property in Tennessee.

Providence Marketplace has 828,000 square feet of leasable space and is the sixth-biggest shopping center in the region. It is located in  Wilson County, which is the second fastest-growing county in Tennessee and number 19 in Boom Towns in the United States.

In 2005 Crosland Southeast, along with joint venture partners Carolina Holdings, developed the 103-acre retail center.

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