Tuesday, June 23, 2026
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DevelopmentMixed-UseSoutheastTennessee

Partnership to Launch $280M Mixed-Use Entertainment District Surrounding Neyland Stadium in Knoxville

by John Nelson

KNOXVILLE, TENN. — A public-private partnership between the University of Tennessee and a newly formed development platform comprising Arctos, RVX Ventures and Magellan Development Group will soon begin the development of Neyland Entertainment District, a $280 million mixed-use village surrounding Neyland Stadium, the home football arena of the University of Tennessee. The waterfront development in Knoxville will feature approximately 100,000 square feet of entertainment space alongside a 24-story hotel and residences, along with a private members club. Arctos is the majority equity investor in the project and is participating as a general partner alongside a sponsor team led by RVX, Magellan and Dixon Greenwood. The construction timeline was not disclosed, but Knoxville News Sentinel reports that construction is expected to begin this summer and include the overhaul of the G10 parking garage, which is a hub of parking and tailgating on game days. The media outlet also reported that the University of Tennessee System Board of Trustees approved a 99-year lease for the development in early May.

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airpark-east-phase
DevelopmentIndustrialSoutheastTennessee

MYCON, Hamilton Creek Break Ground on 318,250 SF Industrial Facility in Nashville

by Abby Cox

NASHVILLE, TENN. — A partnership between MYCON General Contractors and Hamilton Creek Partners has broken ground on Airpark East Phase II, a 318,250-square-foot industrial facility located within Airpark Commerce Center in Nashville. Airpark East Phase II will span two buildings comprising 138,250 square feet and 180,000 square feet. The buildings are expected to be delivered in the first quarter of 2027. Airpark East Phase II follows the development of Airpark Phase I, a 204,500-square-foot logistics center previously completed by MYCON.

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AcquisitionsCivicSoutheastTennessee

Convention Center Authority Acquires Adjacent Parking Garage Site in Downtown Nashville for $52M

by John Nelson

NASHVILLE, TENN. — The Convention Center Authority of Metro Government of Nashville & Davidson County has purchased the former Estes Kefauver Federal Building parking garage site, which sits one block from Music City Center in downtown Nashville. The U.S. General Services Administration (GSA) sold the 1.3-acre site at 811 McGavock St. for approximately $52 million. The land purchase comes one year after a feasibility study showed that Music City Center, the 2.1 million-square-foot convention center that opened in May 2013, was losing business due to space limitations and availability constraints. The existing convention center offers 353,000 square feet of exhibit hall space, two ballrooms, 60 meeting rooms and a covered parking garage with 1,800 spaces. The study recommended an expansion of 587,000 square feet to meet current and future demand. “Finding that much space on one lot in close proximity to our building is tough, if not impossible, so we’ll likely have to build on multiple sites,” said Charles Starks, president and CEO of the Convention Center Authority. “This property is a great start toward that end, as we continue to look at property around us.” Site selection is the next step in expansion exploration for Music City Center, according …

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vonore-tennessee-facility
AcquisitionsIndustrialSoutheastTennessee

Brennan Investment Group Acquires 202,000 SF Manufacturing Facility Near Knoxville, Tennessee

by Abby Cox

VONORE, TENN. — Brennan Investment Group has acquired a 202,000-square-foot manufacturing facility located in the East Tennessee city of Vonore, about 35 miles south of Knoxville. The seller and sales price were not disclosed. The facility is fully leased to Commercial Vehicle Group (CVG), a global manufacturer of commercial vehicle systems, under a new 20-year absolute net lease. The facility is one of two seating manufacturing plants operated by CVG in the United States. Situated on roughly 42 acres, the property offers access to I-75, I-40, McGhee Tyson Airport and the Port of Tellico.

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AcquisitionsLoansMultifamilySoutheastTennessee

Red Oak Capital Provides $7.7M Acquisition Loan for Multifamily Community in Memphis

by John Nelson

MEMPHIS, TENN. — Red Oak Capital Holdings has provided a $7.7 million loan for the acquisition and repositioning of Valley Forge Apartments, a 229-unit multifamily community located at 176 Hillview Ave. in Memphis. Valley Forge features 26 garden-style buildings comprising 171 two-bedroom units, 57 three-bedroom apartments and one one-bedroom unit across 15 acres. The property was 95.6 percent occupied at the time of financing. The borrower, I Real Estate and Allstate Property Management, plans to carry out repairs, capital improvements and security upgrades on the property. Red Oak Capital’s Stratos Athanassiades, Thomas Gorski and James Myatt originated the loan on behalf of the borrower. The loan carries an initial 18-month term and a loan-to-stabilized value of 71.9 percent.

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AcquisitionsIndustrialSoutheastTennessee

Colliers Brokers $140M Sale of Industrial Facility in Cookeville, Tennessee

by John Nelson

COOKEVILLE, TENN. — Colliers has brokered the $140 million sale of a 1.6 million-square-foot industrial facility located at 4500 Academy Road in Cookeville, about 75 miles east of Nashville via I-40. The name of the tenant was not disclosed, but the property was developed in 2015 as a build-to-suit for Academy Sports + Outdoors, which services 84 stores across 14 states from the fulfillment center. Tratt Properties acquired the property from Middleton Partners. Ken Hedrick, Andrew Ragsdale, Phillip Butts, Jonathan Ameen, Will Smith and Spencer Smith of Colliers represented both the buyer and seller during the transaction.

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AcquisitionsRetailSoutheastTennessee

Matthews Negotiates Sale of 10,031 SF Retail Center in Clarksville, Tennessee

by John Nelson

CLARKSVILLE, TENN. — Matthews has negotiated the sale of Shops of Wilma Rudolph, a 10,031-square-foot, unanchored retail center located at 3031 Wilma Rudolph Blvd. in Clarksville, about 46 miles northwest of Nashville via I-24. A private investor based in north Alabama purchased the center from the seller, a development firm based in Tennessee, in a 1031 exchange for more than $5 million. Both parties requested anonymity. Hutt Cooke and Robert Tate of Matthews represented the seller in the transaction. Shops of Wilma was fully leased at the time of sale to Sleep Number, FedEx Office and a U.S. Army Recruiting Station, all of which operate on triple-net leases.

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AcquisitionsDevelopmentMultifamilySoutheastTennessee

Alliance Residential to Develop 312-Unit Apartment Community in Mt. Juliet, Tennessee

by Abby Cox

MT. JULIET, TENN. — Alliance Residential has purchased 10 acres within McFarland Farms, a 110-acre mixed-use project in Mt. Juliet, approximately 17 miles east of Nashville. The Scottsdale, Ariz.-based developer plans to build a 312-unit apartment community on the site. Eric Deems and George Schubert of Atlanta-based Land Advisors Organization represented Alliance Residential in the land transaction. Further details of the multifamily development were not released. In addition to the new apartments, McFarland Farms will include a town center that compromises a mix of 184 townhomes and 175 single-family homes, as well as 35,000 square feet of commercial space for restaurants, retail and entertainment uses; a 4,300-square-foot public greenway; dog park; and a community amphitheater.  The five-phase development, which broke ground in early 2025, is being developed by Tulit Investment and is expected to be fully delivered in 2030.

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AcquisitionsOfficeSoutheastTennesseeTop Stories

Drawbridge Realty Acquires 30-Story Bridgestone Tower in Downtown Nashville for $255M

by Kristin Harlow

NASHVILLE, TENN. — Drawbridge Realty has entered the Nashville market with the acquisition of Bridgestone Tower, a 30-story office building in the downtown district, for $255 million. Raleigh-based Highwoods Properties Inc. sold the 514,000-square-foot building, which was developed as a build-to-suit for Bridgestone Americas Inc. and completed in 2017. Eastdil Secured represented Highwoods in the sale. The property was fully leased at the time of sale and serves as the headquarters of Bridgestone Americas, the largest subsidiary of Bridgestone Corp., a publicly traded manufacturer of tires and rubber. Bridgestone Tower is situated within walking distance of Broadway, Bridgestone Arena, the Music City Center and the Country Music Hall of Fame. “Bridgestone Tower is a high-quality, mission-critical asset leased to a major global credit tenant in one of the most attractive investment markets in the country,” says Charlie McEachron, CEO of Drawbridge. With this acquisition, Drawbridge has purchased more than $740 million in assets in the past 12 months, totaling over 1.1 million square feet. Last October, the firm acquired The HIVE, a Class A office campus in Costa Mesa, Calif., that is fully leased to Anduril Industries. Drawbridge invested more than $20 million in tenant and capital improvement projects across …

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INDUS-Commerce-Center-@-840-Lebanon-Tennessee
DevelopmentIndustrialSoutheastTennesseeTop Stories

INDUS Realty Trust Underway on 2.1 MSF Industrial Park in Metro Nashville

by Taylor Williams

LEBANON, TENN. — Indus Realty Trust, an industrial owner-operator based in New York, is underway on construction of INDUS Commerce Center @ 840, a 2.1 million-square-foot industrial park that will be located on the eastern outskirts of Nashville in Lebanon. The site spans 189 acres near the I-840 and Couchville Pike interchange. The development will consist of four buildings that can accommodate tenants with requirements from 250,000 to 1 million square feet. Vertical construction of the first, 507,000-square-foot building is now underway. This structure will be known as Building 2 and will feature a clear height of 40 feet, 120 dock-high doors, four drive-in doors, parking for 216 cars and 175 trailers, ESFR sprinklers and high-efficiency LED lighting. Completion is slated for the first quarter of 2027. Building 1 within INDUS Commerce Center @ 840 spans 537,000 square feet and is pad-ready. That structure also features a clear height of 40 feet, as well as 110 dock-high doors, four drive-in doors and parking for 196 cars and 120 trailers. Buildings 3 and 4 are also pad-ready and will total 496,674 and 610,480 square feet, respectively. In addition, according to the property’s marketing brochure, Buildings 3 and 4 can be combined …

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