Lincoln Property Company Advises Family Office on Acquisition of Whole Foods-Anchored Southside at McEwen in Franklin, Tenn.

FRANKLIN, Tenn. — Lincoln Property Company advised on the acquisition of Southside at McEwen, a 92,470-square-foot, Whole Foods-anchored shopping center in Franklin, Tennessee, the firm announced Nov. 2. Lincoln served as investment advisor to the buyer, a high-net-worth family office. The seller was Nuveen Real Estate, which was represented by JLL Capital Markets.

The acquisition is the seventh 1031 exchange investment Lincoln Property Company has advised on for the buyer, according to the firm.

Southside at McEwen Property Details

Southside at McEwen is located at 1554 W. McEwen Drive in the Cool Springs submarket of Franklin, about 20 miles south of downtown Nashville. The center was built in 2012 and sits on approximately 10.5 acres with 488 parking spaces. It offers access to Interstate 65 and the broader Nashville area.

The property is 100% leased to a mix of national and regional tenants. Whole Foods Market occupies 45,047 square feet, or approximately 49% of the center. Other tenants include lululemon, BrickTop's, Flower Child, Solidcore, Kendra Scott, Fab'rik and PNC Bank.

According to Lincoln, the center draws approximately 2.3 million visitors annually and is anchored by the most-visited Whole Foods in Tennessee and the Southeast outside of Florida. Average household income within five miles is approximately $179,000, the firm said.

Lincoln Property Company's 1031 Exchange Strategy

Lincoln said its 1031 exchange platform helps private investors and family offices transition into professionally managed, high-quality real estate investments across property types and U.S. markets. The firm said it draws on its national investment expertise, local market team intelligence and full-service real estate platform to identify, evaluate and manage investments based on each client's long-term objectives.

A 1031 exchange allows an investor selling one property to defer taxes by reinvesting the proceeds into a qualifying replacement asset.

"Southside at McEwen has many of the qualities we look for in a 1031 exchange investment: a high-performing anchor, strong tenant mix and an established location with continued demand," said Ryan Kruzel, Managing Director of Investment Management at Lincoln. "Its position within Cool Springs, strong performance and opportunity for future rent growth made it an attractive addition to our client's portfolio."

Tyler Jones, Executive Vice President at Lincoln, said the firm remains confident in Tennessee's long-term investment outlook. "We remain confident in Tennessee's long-term investment outlook, particularly in markets like Franklin and the broader Nashville region, where population growth, a diverse economy and sustained demand continue to support high-quality real estate," Jones said. "Southside at McEwen reflects the type of well-located asset that we believe can deliver durable value for our clients while expanding Lincoln's investment presence across the state."

Rent Growth and Nashville Retail Market Context

Lincoln estimates that rents for the center's smaller retail spaces are approximately 30% below market rates, which the firm identified as a source of future growth potential. Tenant demand and strong sales drove 160% rent growth at the property since 2018.

Nashville-area retail fundamentals remain tight. Lee & Associates' third-quarter 2026 Nashville retail report showed a 3.6% vacancy rate and average asking rent of approximately $31.35 per square foot.

About Lincoln Property Company

Lincoln Property Company is one of the largest private real estate firms in the United States. The firm offers an integrated platform of real estate services to owners, investors, lenders and occupiers across asset types including multifamily, industrial, office, retail, data center, healthcare and mixed-use, in the United States, the United Kingdom and Europe. Its combined management and leasing portfolio on behalf of institutional clients includes more than 720 million square feet of commercial space.

Sources

• Lincoln Property Company press release: https://lpc.com/press-releases/lincoln-property-company-advises-on-acquisition-of-whole-foods-anchored-southside-at-mcewen-in-franklin-tennessee/