Publix Acquires Newmans Crossing Retail Center in Gallatin, Tennessee; JLL Represents Blackwater Real Estate

Publix has purchased Newmans Crossing, a 63,987-square-foot grocery-anchored retail center in Gallatin, Tennessee, from Blackwater Real Estate, JLL Capital Markets announced Aug. 7, 2026. JLL represented the seller in the transaction. Sale price was not disclosed.

Property Details

Newmans Crossing is located at 1931 Long Hollow Pike in Gallatin, a suburb of Nashville. The center was built in 2022-2023 on approximately eight acres and is 100% leased, with a weighted average lease term exceeding 14 years.

Publix Super Market anchors the property with 48,387 square feet and significant term remaining on its lease. The grocer reported a 10% year-over-year increase in sales in 2024. Additional tenants at the center include Agaves Mexican Restaurant, Kung Fu Tea, Ichiban Steak Express, Fowler Family Dentistry, Galaxy Nail Bar, and Crown & Iris.

Trade Area and Market Context

Gallatin has emerged as one of Nashville's fastest-growing bedroom communities. The one-mile radius surrounding Newmans Crossing recorded 66% population growth between 2020 and 2030, with average household income exceeding $160,000. Nearly 6,000 housing units have been delivered in the trade area over the past five years, and an additional 14,000 units are planned or under construction within Gallatin city limits.

The broader Nashville metropolitan area has surpassed two million residents, driven in part by major corporate relocations and expansions that have collectively created more than 20,000 technology jobs in recent years. The Urban Land Institute has ranked Nashville as the top investment market in the nation, and the Wall Street Journal has identified it as the hottest job market in America.

JLL Advisory Team

JLL Capital Markets' Sales and Advisory team representing Blackwater Real Estate was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan, and Senior Analyst Charlie Merrigan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. JLL (NYSE: JLL) reported annual revenue of $26.1 billion and a global workforce of more than 112,000 as of June 30, 2026.

Deal Significance

The transaction reflects continued investor interest in necessity-based retail formats, particularly grocery-anchored centers with stable occupancy and long lease terms. Newmans Crossing's fully leased profile, weighted average lease term of more than 14 years, and location within a rapidly expanding residential corridor position it as a long-term income asset. The deal also underscores the appeal of suburban Nashville retail tied to significant new housing supply and an affluent consumer base.

Sources: JLL Newsroom