Goodlettsville's RiverGate Mall, a hallmark of suburban shopping since the glory days of 1971, has hit the market. Owned by KDI Rivergate Mall LLC, which is tied to Hendon Properties of Atlanta, the over 500,000-square-foot shopping complex is up for grabs. With Nashville's shopping landscape evolving, this almost 30-acre site nestled at 1000 Rivergate Parkway is being advertised as a prime redevelopment opportunity.
The mall, originally constructed in a spree of retail development that included competitors like One Hundred Oaks Mall and Harding Mall, has witnessed the ebb and flow of shopping trends over half a century. Citing Metro records, Nashville Scene reports that KDI Rivergate Mall LLC purchased the property for $67 million in 2013. The listing comes at an opportunistic time, with the likes of Target, Dillard’s, and J.C. Penney still drawing shoppers to its doors.
Details about the property’s potential are being touted by Franklin Street, the firm handling the sale. “The opportunities that a sale of a portion of RiverGate Mall affords the City of Goodlettsville and its residents are endless,” Goodlettsville City Manager Tim Ellis optimistically told News 2. The site's vast expanse offers room for varied uses, in line with current zoning for high-density retail, offices, and even multifamily residences. Market watchers are keyed into the listing as it indicates a shake-up in the area’s commercial dynamics, with Franklin Street agents Bryan Belk and John Tennant at the helm of the marketing efforts.
Meanwhile, those with an eye for detail will recognize the site's additional value, presented by a national lineup of existing tenants. Finish Line, Lids, Champ Sports, and more give the mall a steady footfall. The property's potential versatility was echoed by The Tennessean, emphasizing the broad range of redevelopment options open to the next owner. Official figures on the sale price remain undisclosed, but market anticipation suggests that the mall, and its accompanying possibilities, won't be long without suitors.
