Rolling Stone owner Wenner Media plans to next spring launch a website dedicated to country music and is hunting for between 10 and 15 editorial staffers, reports Ad Age. Gus Wenner, who says his team also will publish a country-themed special issue next year, tells Ad Age he's making a long-term commitment to Music City.
"I went through a lot of the iterations and proposals and modeling for Rolling Stone Country, but the most important thing was a trip I took down to Nashville," he said. "That is a culture that appreciates music."
"We're really doubling down on country: in the office, the people, the logo and the art that's going into the new site," he added. "You're going to realize that this thing is for real. This isn't something we envision putting up and pulling down if ad dollars dry up."
A permit has been issued to allow construction to move forward on the latest in a group of residential buildings on the Meharry Medical College campus. To be located at 929 Dr. D.B. Todd Blvd., the start of the building follows a simliar start early this year on a building to be located at 1809 Morena St. Skanska USA Building Inc. has the contract for both, with the former valued at about $5.2 million and the latter valued at about $3.75 million. Read more here about the project.
A vintage masonry commercial building located one block south of Broadway has changed ownership hands for $3.56 million, according to Davidson County property records.
Located at 120 Third Ave. S., the building (seen in below image courtesy of Google Maps) is home to events space aVenue and restaurant/bar Past Perfect, both of which are expected to remain as tenants, according to The Tennessean.
The buyer is a group of investors who created Third Ave South 120/122 LLC for the transaction.
Several analysts tracking discount retail giant Dollar General have reacted positively to the company's third-quarter report. At Goldman Sachs, Stephen Grambling has hiked his rating from 'neutral' all the way to 'conviction buy.' He says improving gross margins — the introduction of tobacco products has pushed them down this year — as well as continued growth and a hike in the company's share buyback should push the stock (Ticker: DG) to $71, up from his earlier target of $64 and its current price of $60 and change. Meanwhile, Joe Feldman at Telsey Advisory Group and Scott Ciccarelli at RBC Capital have both lifted their price targets for Dollar General to $66 from $63.
Vanderbilt science writer David Salisbury has penned a fascinating piece on the university's work with robotics. VU has 25 investigators with $25 million in research grants, and robotics is key part of the effort, Salisbury writes. Check out the story here.
The contributions of local nonprofit organizations to the Nashville-area economy will be spotlighted on the next edition of the “MTSU On the Record” radio program.
Host Gina Logue’s interview with Dr. Murat Arik (pictured), associate director of MTSU’s Business and Economic Research Center, will air from 5:30 to 6 p.m. Monday, Dec. 9, and from 8 to 8:30 a.m. Sunday, Dec. 15, on WMOT-FM (89.5 and wmot.org).
Arik’s study, prepared for the Nashville-based Center for Nonprofit Management, reports that when compared to nonprofit sectors in 10 metropolitan areas of comparable size, Nashville ranks third for nonprofits in terms of economic impact. Raleigh, N.C., and Indianapolis, Ind., rank 1 and 2, respectively.
The entire study can be viewed here.
Nashville Neurosurgery Group PLC has purchased a medical office building located at 330 22nd Ave. N. in Midtown for $1.73 million.
The seller was Dr. William B. Ralph Jr.
Nashville Neurosurgery, recently formed through the merger of HW Neurological Institute LLC and Tennessee Brain and Spine PLC, also acquired three neighboring properties — located at 332 22nd Ave. N., 331 21st Ave. N. and 335 21st Ave. N., respectively — with plans to build a medical office building on the properties in the near future, the company said in a release.
Commercial real estate broker Stan Snipes, senior advisor with the local office of Sperry Van Ness Investec Realty, represented Nashville Neurosurgery in the purchase of the building, which offers about 7,150 square feet of medical office space. Snipes also assisted in coordinating the design and construction planning efforts for the Nashville Neurosurgery team.
“We are thrilled to be a part of this new phase for Nashville Neurosurgery and Midtown,” Snipes said in the release. “This newly renovated building is sure to add to the area’s evolution.”
Nashville Neurosurgery purchased the properties through Midtown Holdings LLC and plans to move its practice to the location next year.
HW Neurological Institute currently operates at 2011 Church Street, while Tennessee Brain and Spine is located at 2011 Murphy Ave.
The board of directors of Delek US Holdings has approved a fourth special dividend of 2013, which will lift the company's total payouts for the year to $1.05. Chairman, President and CEO Uzi Yemin points out that the company has been able to juggle many corporate finance priorities, which raises the question: What might investors do once (or if) the special dividends dry up?
On Thursday, Delek shares (Ticker: DK) fell 1.5 percent to $28.74. They are still up almost 15 percent in 2013 and have nearly tripled over the past two years.
Charlotte, N.C.-based developer Crescent Communities is planning a 280-unit luxury apartment and retail building to be located on Division Street between The Gulch and the Music Row Roundabout, The Tennessean reports.
If approved, the development would be Crescent’s first project located within Nashville’s urban core.
Crescent is known mainly for suburban development (check the company’s work here), having developed largely in its hometown. The company developed the two-building Greenway Centre in Cool Springs.
Crescent is seeking a variance related to the Music Row Urban Design Overlay district requirements so that it can give the building more height than is currently allowed along that stretch of Division Street, the morning daily reports. The building would be located, in part, at 1205 Division St. and replace some existing nondescript structures (seen in below image courtesy of Google Maps and on the south side of the street).
The building will include five stories of residential apartments located above about 7,500 square feet of first-level retail space, according to The Tennessean. It will feature 195 one-bedroom units, 84 two-bedroom units and one three-bedroom apartment.
Nashville-based developer Alex S. Palmer & Co. has landed an equity partner to help jumpstart its long-stalled West End Summit project in Midtown, according to The Tennessean.
Palmer will team with Atlanta-based TPA Group to help finance construction of the three-building development, the morning daily reports.
HCA, whose Parallon Business Solutions and Sarah Cannon Research Institute subsidiaries are to anchor two of the three towers, has said it is considering other sites given the uncertainty of West End Summit. In addition, InterContinental Hotels & Resorts is to have a hotel presence in the middle tower. However, the company has since removed the WES site from its website.