Publix buys Snow Hill Village shopping center in Ooltewah for $18.5 million

Publix Super Markets Inc., bought the Snow Hill Village shopping center where it has operated one of its supermarkets since 2009. Publix paid $18.5 million to acquire the 86,108-square-foot retail complex, which includes a dozen retail, restaurant, bank and medical tenants.
Publix Super Markets Inc., bought the Snow Hill Village shopping center where it has operated one of its supermarkets since 2009. Publix paid $18.5 million to acquire the 86,108-square-foot retail complex, which includes a dozen retail, restaurant, bank and medical tenants.

Nine years after opening its Ooltewah supermarket, Publix has purchased the entire retail center that houses it grocery store at Snow Hill and and Mountain View roads for $18.5 million.

Publix Super Markets Inc., one of the Southeast's biggest supermarket chains with 2017 sales of $34.6 billion, bought the Snow Hill Village last week as part of its ongoing strategy to acquire many of the shopping centers where it operates.

"Since about 2010, we have been purchasing many of the shopping centers that we occupy as a good investment strategy in areas where there is good real estate appreciation," said Brenda Reid, media and community relations manager for Publix in Atlanta. "Owning where we operate also gives us some opportunities to better limit and control our costs associated with running a store."

photo Publix Super Markets Inc., bought the Snow Hill Village shopping center where it has operated one of its supermarkets since 2009. Publix paid $18.5 million to acquire the 86,108-square-foot retail complex, which includes a dozen retail, restaurant, bank and medical tenants.

The 86,108-square-foot community shopping center opened in 2009 and is 95 percent leased. Snow Hill Village is anchored by a Publix super market and also includes Beef O'Bradys, Edward Jones, H&R Block, the UPS Store, Dr. Hammontree dentistry, Ooltewah Vision Center, Unique Nails, Marco's Pizza, Sun Trust Bank, Open Spigot Liquor and Great Clips. Discount Tire also owns and operates a retail outlet on an out parcel of the shopping center.

Located at 5958 Snow Hill Road in Ooltewah, the center is 17 miles east of downtown Chattanooga and is visible on Interstate 75, where more than 71,000 vehicles travel by the site every day. Within a three-mile radius of Snow Hill Village, 22,500 residents live and have an average household of $95,048, or nearly twice the metropolitan Chattanooga average of $50.250, according to the Holiday Fenogllio Fowler LT (HHF), the Houston real estate firm that handles the sale.

The center was sold by Six Pines Realty, an investment partnership formed in 1995 by AFT Tennessee Trust, the WJP Tennessee Trust and the RGG Tennessee trust to develop and own various shopping centers across Tennessee.

Publix is a privately company headquartered in Lakeland, Florida that is owned and operated by its 190,000-plus employees. Publix operates 1,194 stores in seven Southeastern states, including five in Hamilton County.

Contact Dave Flessner@timesfreepress.com or at 757-6340.

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