REBusinessOnline

Rubicon Equities, Meritage Group Purchase Downtown Nashville Office Building for $95M

NASHVILLE, TENN. — Rubicon Equities and Meritage Group LP have purchased Capitol View Plaza, a Class A office building located at 1 Lifeway Plaza in downtown Nashville, for $95 million.Capitol View Plaza was built in 2017 on the site of the previous headquarters of Lifeway Christian Resource. The property is part of the 32-acre Capitol View master planned community developed by Boyle Investment Co.The property is the third investment for Rubicon and Meritage in Nashville. David …

Continental Realty Acquires 111 Broadway in Downtown Nashville for $36M

NASHVILLE, TENN. — Continental Realty Corp. (CRC) has acquired 111 Broadway, a 50,303-square-foot, mixed-use property in downtown Nashville. Tower Investments Inc., based in Philadelphia, sold the property for $36 million. The four-tenant building is 100 percent leased to tenants including Rock Bottom Brewery, Wyndham-Margaritaville Vacation Club, Glen Campbell Museum and Platinum Cos.Constructed in 1930 and positioned just one block from Cumberland River, the three-story asset has been …

Marcus & Millichap Brokers $8.5M Sale of Friars Branch Crossing Center in Chattanooga

CHATTANOOGA, TENN. — The Giambrone Group of Marcus & Millichap has brokered the sale of Friars Branch Crossing Center, a 99,878-square-foot retail and office center in Chattanooga. Tim Giambrone of Marcus & Millichap represented both the buyer and the seller in the transaction. The buyer, Excelsior Friars Crossing LLC, was a private equity sponsor based in Nashville that purchased the property from Spirit Holdings of Chattanooga for $8.5 million.Friars Branch Crossing is located …

LRC Properties, Machine Investment Buy 2 Dell Parkway Warehouse Property in Nashville for $36.2M

NASHVILLE, TENN. — LRC Properties has bought 2 Dell Parkway, a 288,860-square-foot property comprising mostly warehouse and office space adjacent to Nashville International Airport. LRC Properties co-purchased the property with Machine Investment Group for $36.2 million. Randy Wolcott of Northstar represented the undisclosed seller in the transaction, and Melissa Alexander of Foundry Commercial represented the buyers.The property is currently 100 percent leased to Averitt Express and …

Transcendent Electra Acquires 1,889 New Single-Family Rental Homes in Sun Belt Markets

MIAMI — Transcendent Electra, a joint venture between single-family rental (SFR) platform Transcendent Investment Management (TIM) and multifamily owner/operator Electra America, has purchased 1,889 new single-family homes. The company has $496 million in contract process and closing and another $1 billion in the pipeline. This acquisition marks Transcendent Electra’s first significant acquisition since launching in February.The properties are new single-family homes and townhomes that …

Public-Private Partnership Breaks Ground on 616-Bed Student Housing Project in Nashville

NASHVILLE, TENN. — A public-private partnership between Balfour Beatty Campus Solutions, Axium Infrastructure and Vanderbilt University has broken ground on a 616-bed student housing project in Nashville.The total cost of the project was not disclosed, but the Nashville Post and Nashville Business Journal both reported late last week that the development team received approximately $107 million in construction financing. According to Vanderbilt University’s news service, construction of …

Seefried Industrial Plans 181,500 SF Last-Mile Distribution Facility in Memphis

MEMPHIS, TENN. — Seefried Industrial Properties plans to develop a build-to-suit distribution facility in Memphis for an unnamed e-commerce retailer. Located off Victory Ridge Cove, the last-mile logistics facility will include a 181,500-square-foot standalone package delivery facility used to complement a larger fulfillment center less than half a mile north on New Allen Road. The new building will feature 32-foot clear heights, 17 dock doors, 13 trailer spaces, parking for 953 …

Partners Group Sells East Coast Industrial Portfolio for $1B

BAAR, SWITZERLAND — Partners Group has sold an industrial portfolio on the East Coast in excess of $1 billion on behalf of its institutional clients. The 8.6 million-square-foot portfolio comprises 88 shallow-bay and bulk distribution centers located across five markets: Raleigh-Durham, Atlanta, Nashville, Norfolk and Shenandoah Valley in Virginia.“We are proud to see the transformational results of the work we have done during the past three years and believe this exit represents an …

Bridgewood Acquires Land in Nashville, Plans to Develop Luxury Seniors Housing Community

NASHVILLE, TENN. — Bridgewood Property Co., a Houston-based developer of senior living properties, has acquired land at 3808 Cleghorn Ave. in Nashville for the development of a mid-rise, luxury retirement community. With guidance and input from zoning counsel; Tune, Entrekin & White PC; the Metropolitan Planning Department; and local neighborhood groups, the property received zoning approval in February 2021 to build 205 senior living units within a 12-story facility.The new Bridgewood …

Nashville Retail Market’s Investment Sales, Leasing Activity Defy Pandemic Impact

In spite of national trends, news of spiking default rates and a prediction of a national decline in retail tenancy, the middle Tennessee region appears to be emerging in equal (or better) condition from one of the most unusual years in history.Prior to the government-mandated shutdowns last year, retail activity in Nashville was at a fever pitch. A decade of year-over-year population and economic growth created a strong seller’s and landlord’s market, with no end in sight. The …

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