Miami investment firm buys Gunbarrel center for $6.1 million

A Miami firm has purchased an East Brained retail center anchored by Office Depot for $6.1 million and is looking for other possible acquisitions in what investors see as an attractive Tennessee market.

Centennial Management Corp., a Miami Lakes, Florida-based real estate company that owns dozens of apartment complexes, industrial buildings and commercial centers, bought the 38,700-square-foot retail center at 2273 Gunbarrel Road last month. The East Brainerd complex includes Office Depot, the Forbidden City buffet restaurant and a MurMaid Mattress store, along with two office locations.

“We’re very excited about this acquisition in what we believe is a very strong area on a great road,” Lewis Swezy, the managing principal for Centennial Management, said in a telephone interview Tuesday. “We love the growth potential of Chattanooga.”

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