Factory Stores of America Outlet Center Goes for $5.6 Mil

NASHVILLE, TN-Konover Property Trust sold the 285,000-sf property on Music Valley Drive, northeast of Nashville, to Two Rivers Corporate Centre for $19.65 per sf.

By Mark Clothier | January 04, 2002 at 01:01 AM

Konover is selling non-core assets to improve liquidity and reduce time spent managing non-income producing activities, according to published reports.

Two years ago, the outlet center had 78 tenants. The site has since experienced a decline in occupancy, caused by several factors, including the closing of nearby Opryland and the opening of Opry Mills.

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