A vintage masonry commercial building located one block south of Broadway has changed ownership hands for $3.56 million, according to Davidson County property records.
Located at 120 Third Ave. S., the building (seen in below image courtesy of Google Maps) is home to events space aVenue and restaurant/bar Past Perfect, both of which are expected to remain as tenants, according to The Tennessean.
The buyer is a group of investors who created Third Ave South 120/122 LLC for the transaction.
Nashville Neurosurgery Group PLC has purchased a medical office building located at 330 22nd Ave. N. in Midtown for $1.73 million.
The seller was Dr. William B. Ralph Jr.
Nashville Neurosurgery, recently formed through the merger of HW Neurological Institute LLC and Tennessee Brain and Spine PLC, also acquired three neighboring properties — located at 332 22nd Ave. N., 331 21st Ave. N. and 335 21st Ave. N., respectively — with plans to build a medical office building on the properties in the near future, the company said in a release.
Commercial real estate broker Stan Snipes, senior advisor with the local office of Sperry Van Ness Investec Realty, represented Nashville Neurosurgery in the purchase of the building, which offers about 7,150 square feet of medical office space. Snipes also assisted in coordinating the design and construction planning efforts for the Nashville Neurosurgery team.
“We are thrilled to be a part of this new phase for Nashville Neurosurgery and Midtown,” Snipes said in the release. “This newly renovated building is sure to add to the area’s evolution.”
Nashville Neurosurgery purchased the properties through Midtown Holdings LLC and plans to move its practice to the location next year.
HW Neurological Institute currently operates at 2011 Church Street, while Tennessee Brain and Spine is located at 2011 Murphy Ave.
Charlotte, N.C.-based developer Crescent Communities is planning a 280-unit luxury apartment and retail building to be located on Division Street between The Gulch and the Music Row Roundabout, The Tennessean reports.
If approved, the development would be Crescent’s first project located within Nashville’s urban core.
Crescent is known mainly for suburban development (check the company’s work here), having developed largely in its hometown. The company developed the two-building Greenway Centre in Cool Springs.
Crescent is seeking a variance related to the Music Row Urban Design Overlay district requirements so that it can give the building more height than is currently allowed along that stretch of Division Street, the morning daily reports. The building would be located, in part, at 1205 Division St. and replace some existing nondescript structures (seen in below image courtesy of Google Maps and on the south side of the street).
The building will include five stories of residential apartments located above about 7,500 square feet of first-level retail space, according to The Tennessean. It will feature 195 one-bedroom units, 84 two-bedroom units and one three-bedroom apartment.
Gulch Crossing LLC, the developer of the Gulch building of the same name (minus the "LLC" of course) currently under construction on 11th Avenue, has secured from Wells Fargo Bank a loan of $62.9 million, according to documents filed with the Davidson County Register of Deeds. Gulch master developer MarketStreet Enterprises created the LLC for the project and declined to provide additional financial details (including the amount of equity in the project), citing a longstanding policy of not disclosing financials related to its developments.
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