Another downtown Nashville vintage building will be converted to residential space, as The Tennessean reports a local investment partnership has bought 423 Union St. for $540,000 and will reinvent the structure (seen below in an image courtesy of Google Maps) with two rental condos. Read more here.
A downtown Nashville skyscraper is about to change ownership hands while a Midtown tower could soon hit the market.
The Nashville Business Journal reports the Fifth Third Center, which anchors the city’s central business district at the northeast corner of the Fifth Avenue North and Church Street intersection, is slated to sell next month for about $90 million. (Read more here.)
The NBJ reports that Denver-based Amstar has selected a buyer (not ID’d in the story) for the 31-story high-rise (pictured), which a shade under 80 percent leased.
Similarly, The Tennessean reports Palmer Plaza will soon hit the market. The daily paper reports Palmer Plaza Partners II owes $30 million on its loan and needs to either sell or refinance.
The 18-story 269-foot-tall Palmer Plaza opened in 1986. Located at the southwest corner of the West End and 18th avenues intersection, it remains Midtown’s tallest structure.
Louisville-based boutique hotel operator 21c Museum Hotels has acquired a downtown Nashville building in which it wants to open its boutique hospitalty brand, according to The Tennessean. The morning daily reports that 21c Museum Hotels won an auction last Friday for the structure, which Metro had owned and is located at 222 Third Ave. N. (See below in an image courtesy of Google Maps.) 21c Museum Hotels placed a winning bid of $6.8 million. 21c Museum Hotels Louisville opened in 2006, with the company having an interesting story (read here).
Rockbridge Capital has secured a permit valued at $134,502 to undertake demolition on the 11th and 12th floors of the Noel Place building it is converting to a boutique hotel.
IDC Construction LLC is serving as general contractor for the project.
Noel Place sits at 200 Fourth Ave. N. in downtown.
Rockbridge has yet to announce the hotel brand.
Downtown Nashville post-modernist skyscraper Fifth Third Center is for sale, according to The Tennessean. The morning daily reports the building's owner, Denver-based Amstar, could land up to $90 million for the highrise.
Ryman Hospitality Properties has agreed to purchase the downtown mixed-use building perhaps best recognized for its Opry Originals gift store on the ground level, according to the Nashville Business Journal. The building, which also offers office space home to R.C. Mathews Contractor and the Nashville office of Colliers International, is located at 300 Broadway. Read more here.