A Charlotte Avenue building last home to used auto dealership Perry Auto Sales is now the space for Masaya & Co.
The retailer’s opening follows 3500 Charlotte Pike Partners' April acquisition of the property and suggests a redevelopment of the site will not happen quickly as some had speculated.
Based in Nashville, Masaya specializes in furniture made from sustainably sourced local materials and bills itself as offering a “responsible alternative to mass production goods.” The company has a tree nursery in Nicaragua.
3500 Charlotte Pike Partners, an entity affiliated with Spiva Hill Management Co. partners George Spiva and Nick Spiva, paid $1.65 million for the property, which spans the north side of Charlotte Avenue between 35th and 36th avenue north. Nick Spiva is undertaking a development in Berry Hill (read here).
Spiva could not be reached for comment.
The stretch of Charlotte between the inner-interstate loop on the east and 42nd Avenue on the west continues to see increased interest from businesses and prospective developers, according to local real estate sources.
HCA has landed a major permit for its mixed-use tower under construction in the North Gulch.
Skanska is handling the job, with the permit valued at about $90.6 million. The work involves constructing a 16-story shell for the tower.
To rise about 250 feet, the building will accommodate HCA divisions Sarah Cannon Research Institute and Parallon.
Read more about the project here.
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.
A stalled Sylvan Park commercial development is expected to be downsized so as to meet Metro compliance, Nashville Business Journal reports.
Quoting Metro Councilwoman-Elect Kathleen Murphy, NBJ reports Nashville-based boutique developer Priam Ventures will alter that massing of its retail building under construction at 46th and Utah avenues.
Read more here.
There seems to be no stopping the Nashville-area housing market these days. The latest Freddie Mac Multi-Indicator Market Index shows a local housing economy rising for the fifth straight month to 90.0. It was under 79 in January and is now up 58 percent from its fall 2010 trough. Freddie Mac says Middle Tennessee is now the eighth-strongest housing market in the United States. (The company's national news release is here.)
In what should be an encouraging sign for many other local businesses, Freddie Mac researchers say the biggest gains are coming thanks to better payment-to-income ratios. Given how steadily home prices are rising, that statistic might suggest local workers' compensation is more than keeping up.
The local office of CBRE has begun leasing efforts related to the 10,150 square feet of street-level retail space to be included in the 25-story SkyHouse Nashville, now under construction in Midtown.
Austin Benedict will handle the marketing and leasing for the retail space, according to a release.
The largest space, to span 3,000 square feet, will be located at the southeast corner of Broadway and 17th and includes 28-foot ceilings and a patio, intended for a restaurant user. The other spaces range from 1,000 to 2,800 square feet, with CBRE to target fast-casual restaurants, boutique shops or amenities stores for the residents of the building's 325 apartment units.
Of note, all retailers and retail patrons will have access to the building's 497-space parking deck.
Atlanta-based Novare Group and Simpson Housing are co-developing SkyHouse, which will have an address of 1701 17th Ave. S. This is Novare's third building in Nashville (joining Viridian and Encore) and its 15th SkyHouse.
“Novare Group and Simpson Housing have a long track record of delivering fabulous developments, and I look forward to seeing the success of other SkyHouse projects brought to Midtown Nashville," Benedict said in the release. "The project’s retail and abundant parking will fill a serious void in Midtown.”
Read more here.
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