Franklin-based SouthStar is slated to sell by month’s end the final piece of land it owns related to the proposed Ovation mixed-use development in Cool Springs, Nashville Business Journal reports.
According to NBJ, the prospective buyer is Bristol Development Group, which is also based in Franklin, know for its residential projects and previously connected to the Ovation effort.
SouthStar already had sold for $30.9 million 35 acres to Atlanta developer Thomas Enterprises Inc.
The Ovation site sits across Carothers Parkway from the land on which Vanderbilt University Medical Center operates many of its Williamson County outpatient services. It is located southeast of the prominent parcel on which Spectrum|Emery Properties is developing its Franklin Park project, which will over time also bring to market more than 1 million square feet of office space.
As planned, Ovation could include buildings spanning 480,000 square feet and accommodating retail, restaurant and entertainment venue space, two hotels with a collective 450 rooms and 950 residences.
In addition to Bristol, Highwoods Properties is involved in Ovation.
Columbia-based Community First Bank & Trust is, as of Sept. 29, no longer operating under any sort of extra regulatory requirements. The bank, which runs eight offices in Maury, Hickman and Williamson counties, had been under an informal memorandum of understanding with regulators since late last year. As recently as 2012, the bank faced a $15 million capital gap as it tried to bounce back from the real estate bust and meet the stringent extra conditions regulators were demanding.
Said Chairman Eslick Daniel in a statement this week: “The board is excited to be planning our future with a focus on serving our community and shareholders rather than correcting the problems of the past. We appreciate the support our regulators have shown in our efforts to improve the health of the Bank, and believe that the lessons of our past will make us a stronger Bank in the future.”
Gigi's Cupcakes has revamped its store in The Crossings shopping center in Spring Hill, a move that is highlighted by the addition of a test kitchen for new products. The location also will serve as the training headquarters for workers at nearly 100 Gigi’s stores around the country.
The Spring Hill store will offer new menu items such as breakfast quiches, muffins and an ice cream line featuring three proprietary flavors that work cupcake flavors into the ice cream.
"I'm so thrilled about our redesigned location in Spring Hill," said Gigi Butler, company founder. "I know the residents of Spring Hill are really excited to have Gigi's Cupcakes to help celebrate all of their special occasions and we are excited to have such an ideal location for our employee training and test kitchen."
Prominent regional business executive Gaylon Lawrence has agreed to buy F&M Bank in Clarksville, which has about $860 million in assets and last year produced $5.3 million in profits. Click here to read more at The Leaf-Chronicle courtesy of Jimmy Settle, who talked to an upbeat F&M President and CEO Sammy Stuard.
“Through this merger the bank stays fully intact in Clarksville, Tenn. There are going to be no changes in employment or anything,” Stuard said. “Actually, nothing changes except the owner. Our existing board of directors also stays intact, although there may be some additions to the board over time.
Lawrence also is a backer of Tennessee Bank & Trust in Williamson County and is helping John Eakin build his 1201 Demonbreun office tower in The Gulch.