Chattanooga-based Rise Partners recently acquired Cookeville’s Jackson Plaza.
The real estate development, acquisition, and redevelopment company closed on the West Jackson Street property about two weeks ago.
Rise Partners founding partner Matt Phillips said the group plans to continue helping current tenants and bring new retailers to Cookeville.
“The Sears box right in the Center is now closed and we are excited about that. It’s an opportunity to fill a void in the center,” Phillips said. “Our plan is to divide that box into two spaces and backfill the box with two national retailers.”
Phillips said conversations are ongoing with multiple retailers. Current tenants at Jackson plaza include include Belk, TJ Maxx, Old Navy, Dunham’s Sports, Food Lion, Books a Million and Petco.
“In the near term we should be able to make some announcements as to who those users are,” Phillips said. “I feel sure that folks will be excited about who is going to be taking the place of Sears.”
“We are thrilled to be new members of the Cookeville community. We love the location and the regional draw all the way up to Kentucky,” said Phillips. “We love college towns and the stability from an economic standpoint that Tennessee Tech brings is a big attraction to us.”
Rise Partners formed in November of 2017. The team has decades of experience across many retail property types, including large regional power centers, regional malls, neighborhood grocery anchored centers, community centers, single tenant net leased buildings and mixed-use developments.