Groundbreaking for proposed downtown luxury apartment tower SoBro might be looming.
James McHugh Construction Co. — the Chicago-based general contractor that fellow Windy City company Magellan Development Group typically uses for its skyscraper projects — recently leased office space in a building located at 418 Second Ave. S., about two blocks south of the site on which the 33-story SoBro will rise.
Magellan is teaming with Giarratana Development for SoBro (read more here).
McHugh is one of the nation’s largest construction managers and general contractors and has enjoyed individual years with revenues of more than $500 million. In Chicago, the company built including Marina City, Water Tower Place and Trump Tower, each of which was the world's tallest reinforced concrete structure at the time of its completion.
Austin Benedict represented McHugh, while Vickie Saito represented building owner Paul Harmon. Both brokers work with Colliers Nashville.
On a side note, Harmon is a Brentwood-based visual artist.
The Convention Center Authority has announced the Music City Center in March hosted 20 events with 63,901 attendees, generating 39,353 in total room nights and about $47.8 million in economic impact.
The numbers make March the MCC’s strongest month for economic impact since it opened in May 2013, the authority said in a release.
Relatedly, the SoBro-based MCC has generated more than $125 million in economic impact to date in fiscal year 2014.
Since July 1, the convention facility has hosted 262 events with 302,803 attendees. The events generated 115,448 room nights for $125.3 million in economic impact.
Tax collections continue to outperform projections, with the MCC portion of tax collections was up 10.16 percent year over year for January, the authority said.
“March was a great month for us with the National Rural Electric Cooperative Association, American Trucking Association and a number of other large groups,” Charles Starks, MCC president and CEO said in release. “Our customers have been very happy with their attendance numbers and every group here during the third quarter of fiscal year 2014 has set record attendance.”
The building that most recently accommodated the downtown Nashville Copper Kettle has sold for $2.1 million, according to Davidson County property records.
Peabody LLC bought the building, located at 94 Peabody St., from Robb Properties LLC.
Metro last appraised the property, which spans 0.3 acres, in January 2013 for $1.24 million.
The interior of the SoBro building slated to be home to City Winery is undergoing major rehabbing, with the owner of the live music and restaurant business having secured a permit valued at $2.3 million. Nashville-based MTLC Inc. will serve as the general contractor and will work with about 26,000 square fee of interior space. City Winery Nashville LLC last December paid $2.65 million for the warehouse structure, located at 600 Middleton Street. (Read more here.)
Turnberry Associates, the Florida-based company that is the majority owner of Union Station Hotel and Hilton Nashville Downtown, has nearly four acres of United Methodist Publishing House property under contract, according to The Tennessean. The morning daily reports the company is planning a hotel for the SoBro site, which sits at the southwest corner of the Demonbreun Street and Eighth Avenue South intersection. A New York-based investor group plans a Westin hotel on an adjacent site south of the land Turnberry seeks to acquire.
- BRASWELL, ROBERT
- GARRETT, JOHNNY C EXECUTOR; GARRETT, JOHNNY C IV EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, TIMOTHY M EXECUTOR
- GARRETT, TIMOTHY M EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, JOHNNY C EXECUTOR; GARRETT, JOHNNY C IV EXECUTOR
- GARRETT, JOHNNY C IV EXECUTOR; GARRETT, JOHNNY C EXECUTOR; GARRETT, ANN BIGGER ESTATE; GARRETT, TIMOTHY M EXECUTOR