Nashville-based law firm Keller Turner Ruth Andrews Ghanem & Heller has a contract to purchase the two-story office building at 20 Music Square West, as first reported by Nashville Business Journal.
Keller Turner Ruth Andrews Ghanem & Heller, which currently operates from Terrazzo in The Gulch, boasts clients including Backstreet Boys and OneRepublic.
Read more here at MusicRow.com.
Lots happened on the local commercial real estate front last week. Let’s take a quick look.
• Another prime SoBro site is for sale. The property located at 500 Eighth Ave. S. and in the shadows of the Music City Center Roundabout recently hit the market, according to Loop Net info. Maria Chrzan, Principal Broker & Owner at MAP Group, LLC, is listing the property for owner AMEC. No listing price is being disclosed.
“It’s a super site and within walking distance to the MCC,” said Chrzan (pictured).
• Nashville-based real estate investor Brad Daniel seemingly is planning some residences for Second Avenue North. Daniel — who wanted to develop with Gary Belz a large-scale apartment building on 16th Avenue South (a project that, in large part, spurred the Metro Planning Commission to essentially place a temporary halt on approving new construction for Music Row) — is now the registered agent for Nashville Riverfront Lofts LLC.
Daniel could not be reached for comment.
• The Metro Planning Commission approved an amendment to the land-use policy and specific plan zoning related to Eakin Partners’ office building planned for the northwest corner of 30th Avenue South and Vanderbilt Place. The building will rise 12 stories and span 200,000 square feet.
• A Sept. 4 groundbreaking is set for the $25 million Division Street Extension and Bridge complete street project to connect The Gulch and SoBro, The Tennessean reports.
Bell and Associates Construction, Gresham Smith and Partners and HDR|ICA Engineering Inc. will work on the project, which will see Division connect with Ash Street. The connector is expected to spur development in lower SoBro.
• Groundbreaking looms for the Lennar Multifamily Communities high-rise slated for 19th Avenue North near Music Row. All the buildings sitting within the footprint of the future 19-story building are now empty.
Read more about the project here.
Division Division Street Extension and Bridge
Eakin Partners building
A trio of development groups is attempting to acquire a Gulch site from which a storage business operates across Division Street from Yazoo Brewing Co.
The Tennessean reports that Tommy Pierce, president of A+ Storage of Tennessee and majority owner of the property, expects to reach an agreement with one of the prospective suitors by the end of September.
The morning daily notes the developers are based in Georgia, Texas and Nashville, respectively. Options include a residential tower, a building with luxury apartments or condos, and a luxury hotel building with a music/television studio.
The two-acre property sits at 909 and 911 Division St., sandwiched by the sites of the Fairfield Inn & Suites and mixed-use mid-rise Terrazzo. It also is located a few blocks west of the point at which Metro will connect Division and Ash Street via a viaduct, a move that is expected to spur development on what is the southern segment of downtown.
See the site here courtesy of Google Maps.
Crescent Communities has landed 10 permits for its Crescent Music Row mixed-use project under construction at 1221 Division St. near both Music Row and The Gulch, according to a Metro Codes Department document.
Balfour Beatty Construction is handling the job, with the permits valued at a collective approximately $12.26 million.
The building will offer 275 luxury apartment units and about 8,000 square feet of ground-level retail space.
Read more about the project and see a large image here.
The team looking to bring a high-end hotel to The Gulch is not preparing to announce groundbreaking for a tower to house an Edition Hotel — despite the existence of images that might suggest otherwise.
Vize Architectural Rendering, a Prague-based presentation services company for architects located mainly in Europe, offers on its website two images of a Gulch tower. Edition Hotel signage is seen in one image. Nashville-based Tuck-Hinton Architects is listed, too.
The images surfaced this morning on urbanplanet.org, a message board that focuses on issues facing the manmade environment and for which the Nashville forum is known to be quite active. Mark Bloom, who serves as spokesman for the investor group hoping to develop a hotel on 12th Avenue South between Laurel Street on the north and Pine Street on the south, said the images are outdated and no deal or project looms.
“We continue to keep our heads down and grind away, hoping to create a special hotel on our Gulch property one day,” Bloom said. “And with a brand that doesn’t exist in Nashville today.”
He declined further comment.
According to multiple sources, Bloom and his group during the past few years have talked to officials with various hotel brands — with no agreements having been reached. Edition Hotels officials, seemingly, were in that mix at one point (read here).
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