GBT Realty Corporation (GBT), a leading national commercial development and investment company headquartered in Brentwood, Tennessee, has announced it has closed on the acquisition of approximately 42.5 acres in Gallatin, Tennessee.
The move clears the way for The The Crossroads of Gallatin, a nearly 300,000sq ft retail development that will become a major new shopping, dining and services destination in Sumner County.
As part of that announcement, it also unveiled two tenants for The Crossroads, Sprouts Farmers Market, who have leased 23,000sq ft of space and Academy Sports + Outdoors who have leased 55,000sq ft of space.
“Closing on this property is an important step toward delivering what we believe will become one of the most significant retail destinations in Sumner County,” said George Tomlin, Founder, President and Chairman of GBT. “We’re excited to announce Sprouts, one of the fastest growing grocers in the country and Academy Sports and Outdoors, a family favorite retail destination, as our first tenants, with many more announcements to come.”
Tomlin continued by saying: “Gallatin has become one of Middle Tennessee’s most compelling growth stories and The Crossroads of Gallatin will meet that growth with retailers, restaurants and services that complement the community and make everyday life more convenient.”
The land closing marks a significant milestone for the project, which is poised to become the largest new shopping destination developed in the Nashville MSA in 12 years. Located at Green Lea Boulevard and Harris Lane, immediately adjacent to Vietnam Veterans Boulevard/SR-386, The Crossroads of Gallatin will bring a diverse collection of retailers, restaurants, cafés, health and wellness providers and other services to one of Middle Tennessee’s fastest-growing communities.
The development is positioned at a critical gateway connecting Gallatin with Hendersonville and the greater Nashville region. Vietnam Veterans Boulevard carries more than 47,000 vehicles per day, while GBT estimates traffic on Green Lea Boulevard will reach approximately 21,700 vehicles per day with new development in the immediate area.
Current plans envision a diverse mix of larger-format retailers and smaller shops throughout the centre. The site plan includes approximately 30,000sq ft of divisible shop space, multiple larger retail spaces ranging from approximately 5,000 to 55,000sq ft and six available outparcels ranging from approximately one to 1.7 acres.
With the land acquisition complete, GBT is advancing the project toward construction later this month. Beyond Sprouts and Academy, the company is in advanced discussions with leading retailers and expects to announce additional tenants soon.
