Lexington, Kentucky-based real estate developer Andover Management Group is targeting a self-storage facility for Fesslers Lane.
If completed, the Citadel Self Storage facility would be the company’s first in Nashville, insideselfstorage.com reports.
According to a release, Andover has the property, located at 506 Fesslers Lane, under contract and would have the facility cater to businesses and residents within Nashville’s urban core.
Andover does not disclose the planned acquisition price in the insideselfstorage.com article (read more here). However, a LoopNet listing shows an asking price of $1.25 million for the 1.7-acre site.
Brentwood-based GBT Realty is looking to redevelop more than three acres in suburban St. Louis with a project that will combine almost 300 apartments, a grocery store and more than 40,000 square feet of office space. The company submitted its plans to local officials this week and hopes to finish the job in 2018.
The Grassmere Business Park building home to Asurion Insurance Services is slated for a major update, a mere five months after it changed ownership hands.
MarketStreet Enterprises, through its MarketStreet Grassmere, owns the building, having paid $25.9 million for it in June (read more here).
The Nashville office of Utah-based The Layton Companies Inc. is handling the work, with the permit valued at $1.2 million.
The building has an address of 648 Grassmere Park. Grassmere Business Park is located in South Nashville.
Nashville-based Long Foundation Drilling Co. has been enlisted to supplement efforts related to the installation of downtown public art piece Stix, the completion date for which has been extended to year’s end.
Originally, the installation was to have been finished by Oct. 31. However, the drilling process has been more complicated than originally anticipated, according to Jennifer Cole, Metro Arts Commission executive director.
Nashville-based Rains Electric Co. is serving as contractor and hired Long, Cole said.
Sitx will anchor the Korean Veterans Boulevard roundabout adjacent to the southwest corner of the Music City Center.
Metro Arts selected UCLA art professor and Silver Lake, California-based Christian Moeller to create the piece, which carries a cost of $750,000 for site work, installation and creation.
To eventually consist of 27 70-foot-tall native hardwood poles (eight currently are standing on the site), the Stix pieces will be painted red orange, light blue, dark blue, light green and egg white, paying homage to the Native Americans who originally populated Middle Tennessee.
Panattoni Development Co. has acquired for $1.93 million a 44-acre tract on Brick Church Pike and on which it plans Skyline Distribution Park.
Relatedly, Panattoni has appointed JLL as exclusive leasing agent of the proposed Class A industrial park, which will consist of three buildings spanning a collective 600,000 square feet, according to a release. The buildings will be able to accommodate users ranging in size from 20,000 square feet to 375,000 square feet.
Construction of Skyline Distribution Park will start this month with an expected completion date in the third quarter of 2016.
The JLL team handling the assignment includes Bo Fulk, vice president, and Jimmy Armistead, associate broker. The team will work closely with Jeff Konieczny, development manager of Panattoni.
“With greater than 30,000 people moving to Nashville annually, the need for more quality warehouse space close to the city center continues to grow accordingly,” Bo Fulk, vice president of JLL Nashville, said in the release. “Simply put, demand is outpacing supply. Skyline Distribution Park will be perfectly positioned to service Nashville and the region as a whole. Visible from I-24 and I-65, tenants of Skyline will have direct access to downtown Nashville, I-24, I-65 and I-40 via Briley Parkway.”
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