Premier Parking has acquired for $1.85 million a 0.41-acre site straddling the Music City Center roundabout and on which the Nashville-based company plans a surface parking lot, according to a Metro document.
Premier, which created Roundabout Parking Partners LLC for the acquisition, will operate a lot with 42 spaces.
Charles E. Cook was the seller.
Led by CEO Ryan Chapman, Premier also is partly owned by developer Tony Giarratana, thus spurring some to wonder if a development could be in the site’s future.
Read more here.
A group of investors that includes Vaco CEO Jerry Bostleman and businessman Moni Advani has acquired an Eighth Avenue South property for about $9 million, Nashville Business Journal reports.
The 3.14-acre property is located within the 900 block of the street, about two blocks south of the southeastern fringe of The Gulch (see here courtesy of Google Maps).
Advani is a business partner of celebrity chef Maneet Chauhan, one of the owners of North Gulch-based Chauhan Ale & Masala House.
Read more here.
Commercial Realty Services announced today it plans to start construction by month’s end on the retrofitting of a Donelson commercial building, with Jimmy John’s Gourmet Sandwiches as the first signed tenant.
Terms of the lease were not disclosed in a release.
This is the next adaptive reuse retail project for Mt. Juliet-based CRS, which also undertook the reinvention of the Charlotte Avenue building home to, among others, Flip Burger Boutique and The Beer Pale.
Kenneth Powers, CRS principal, said the company is working with Southeast Venture to secure two additional tenants by the end of the year. MJM Architects designed the retrofit, with Ikon Construction serving as general contractor. Green Hills-based InsBank is providing project financing.
Will Tyner, CRS development partner, said the company will continue to eye “taking underutilized buildings in great locations and finding creative ways to reinvent them through adaptive reuse.”
Read more about the background of the project here.
(Image courtesy of CRS and MJM)
The Metro Codes Department has issued multiple permits related to The Reserve at Oakleigh apartment complex, to be located in Antioch.
Indianapolis-based Herman & Kittle Properties is the developer.
Midwest Building Supplies is serving as general contractor, with the permits collectively valued at about $7 million.
With an address of 3562 Pin Hook Road (see here courtesy of Google Maps), The Reserve at Oakleigh will offer 264 units.
The Middle Tennessee housing market continues to heat up nicely — to the point where the year-over-year improvement in Freddie Mac's Multi-Indicator Market Index has reached double digits for the first time since June of last year. As in recent months, the biggest driver of those gains is an improvement in the payment-to-income ratios of local borrowers.
Here's Freddie Mac's national news release.
Deloitte is targeting mixed-use building Gulch Crossing for its Nashville offices, Nashville Business Journal reports.
According to NBJ, which cites multiple sources, Deloitte is finalizing negotiations to lease space in the 205,000-square-foot building, which opened in July and is about 70 percent leased.
Of all accounting firms based in Nashville or not, Deloitte has the largest local presence. The company operates in offices both in Hermitage (at which a large IT team is based) and downtown.
Read more here.
A vacated building sitting within the footprint of what would be a U.S. courthouse long-planned for downtown Nashville is slated to be demolished, pending federal funding, according to a federal official.
The building, once home to the Tennessee Department of Health and Environment, sits at the southeast corner of the intersection of Church Street and Rosa Parks Boulevard. With its charcoal granite base and gray brick mid-section and top, the five-story structure (see here courtesy of Google Maps) when in use ranked among the city’s more rugged, and even slightly industrial, office buildings.
The U.S. General Services Administration would oversee the courthouse project, announced in the early 2o00s, once it materializes. The site on which it would sit spans 3.4-acres and includes an art deco parking garage that is also expected to eventually be razed.
“GSA has installed perimeter fencing and covered sidewalks around the building as a safety precaution while we await funding to demolish the facility,” Saudia Muwwakkil, GSA spokesperson, told the Post in an email message.
Congress already has allocated $26.1 million toward the project, which could carry a price tag of at least $181.5 million. No construction start date has been announced.
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