Tennessee Archives - REBusinessOnline

JLL Brokers Sale of Publix-Anchored Shopping Center in Metro Nashville

John Nelson — Tue, 11 Aug 2026 13:02:17 +0000

GALLATIN, TENN. — JLL has brokered the sale of Newmans Crossing, a 63,987-square-foot retail center located at 1931 Long Hollow Pike in Gallatin, approximately 30 miles northeast of Nashville. Built in 2023, the fully leased property is anchored by a 48,387-square-foot Publix. Other tenants include Agaves Mexican Restaurant, Kung Fu Tea, Ichiban Steak Express, Fowler Family Dentist, Galaxy Nail Bar and Crown & Iris. Jim Hamilton, Brad Buchanan and Charlie Merrigan of JLL represented the seller, Birmingham, Ala.-based Blackwater Real Estate, in the transaction. Publix Super Markets Inc. purchased Newmans Crossing for an undisclosed price.

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McShane Construction Delivers 332-Unit Ellison Cool Springs Apartments Near Nashville

John Nelson — Thu, 06 Aug 2026 14:16:42 +0000

FRANKLIN, TENN. — McShane Construction Co. has delivered Ellison Cool Springs, a 332-unit apartment community located at 2000 Aspen Way in Franklin, a southern suburb of Nashville. The co-developers are Flournoy Development Group and National Healthcare Corp. (NHC). Designed by Dynamik Design, the property features a mix of one-, two- and three-bedroom apartments with monthly rental rates ranging from $1,760 to $4,305, according to Apartments.com. Amenities include a heated saltwater pool, an indoor-outdoor entertainment pavilion, outdoor courtyards, hammock garden, dog park, pet spa, fitness and wellness center, grab-and-go market, coworking lounge and a podcast/music recording studio. Ellison Cool Springs also offers 15 commercial units on the ground level, two concrete parking decks and five six-bay, standalone parking garages. McShane began construction on the apartment development in 2024.

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PCCP, Distribution Realty Purchase Industrial Facility in Spring Hill, Tennessee for $51M

John Nelson — Thu, 06 Aug 2026 14:14:03 +0000

SPRING HILL, TENN. — A joint venture between PCCP and Distribution Realty Group has acquired a single-tenant industrial facility located at 4637 Port Royal Road in Spring Hill, about 38 miles south of Nashville via I-65. A private seller sold the 330,484-square-foot facility to the joint venture for $51 million. Built in 2001 and situated on 26 acres, the property is fully occupied by Prinova, a distributor of ingredients and nutrient premixes for the food-and-beverage industry. The Illinois-based company recently executed a 10-year lease extension at the facility.

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Marcus & Millichap Brokers Sale of New Restaurant in Hixson, Tennessee Leased to Chick-fil-A

John Nelson — Wed, 05 Aug 2026 14:38:28 +0000

HIXSON, TENN. — Marcus & Millichap’s Taylor McMinn Retail Group has brokered the sale of a newly built restaurant in Hixson, a northeast suburb of Chattanooga. Chick-fil-A occupies the property on a 15-year ground lease that features 10 percent rent increases in the initial term as well as extension options. Don McMinn and Andrew Koriwchak of Taylor McMinn represented the seller, a preferred developer for Chick-fil-A, in the transaction. RealSource Group and ParaSell Inc. represented the buyer, a high-net-worth individual based in Florida who is purchasing the restaurant all-cash in a 1031 exchange. The property sold for approximately $2.8 million. “This transaction achieved Tennessee’s lowest cap rate ever for a single-tenant Chick-fil-A, driven by its prime location, strong credit and low price point,” says McMinn.

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Albion Delivers 458-Unit Residential Community in Midtown Nashville

Abby Cox — Mon, 20 Jul 2026 14:17:36 +0000

NASHVILLE, TENN. — Albion Residential has delivered Albion Music Row, a 458-unit multifamily community located in Midtown Nashville. The 29-story apartment complex, which was developed on the former Beaman auto dealership property, is now fully open. Vertical construction on the project began in December 2024, while move-ins started this past spring. Albion Music Row was originally expected to be delivered this fall. Albion Music Row offers studio, one-, two- and three-bedroom floorplans ranging in size from 357 to 1,815 square feet, according to Apartments.com. Monthly rental rates begin at $1,679. Amenities include a swimming pool, indoor/outdoor fitness center, laundry facilities, podcasting studio, clubhouse, a rooftop terrace and coworking and social spaces. The community also features 4,000 square feet of ground-floor restaurant space and availability for a permanent vendor on the outdoor plaza. The project team included Clark Construction, Hartshorne Plunkard Architecture, Barge Civil Associates, Hodgson Douglas and I.C. Thomasson. Albion Music Row is Albion Residential’s second large-scale, ground-up project in Nashville’s urban core, following the opening of Albion in the Gulch in spring 2023. According to Albion, the firm is considering a 2027 start date for a second Albion Music Row tower.

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CBRE Arranges Sale of 16-Story Moore Office Building in Nashville

John Nelson — Tue, 07 Jul 2026 15:05:46 +0000

NASHVILLE, TENN. — CBRE has arranged the sale of The Moore Building, a 16-story office building located at 827 19th Ave. S in Nashville. Shorenstein Investment Advisors purchased the 245,826-square-foot building from Atlanta-based Portman Holdings. Patrick Gildea, Matt Smith, Roscoe High, JT Martin and Morgan Hillenmeyer of CBRE represented the seller in the transaction. JP Cordeiro, Cliff Joyner and Mike Ryan of CBRE’s Debt & Structured Finance team arranged acquisition financing for the buyer. The sales price and loan amount were not disclosed. Built in 2023, The Moore Building is situated in Nashville’s Midtown district and features 9,000 square feet of ground-level retail space, an 11,000-square-foot amenity deck, a sky lobby and lounge, fitness center, conference facilities and above- and below-grade parking totaling nearly 600 spaces. The property is named after Scotty Moore, the longtime guitarist to Elvis Presley who had once operated a recording studio at the site. According to Nashville Business Journal, TikTok is an anchor tenant at the LEED-certified office building.

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ARK Homes Begins Pre-Leasing Efforts for The Reserves at Three Ridges Apartments in Knoxville, Tennessee

Abby Cox — Wed, 01 Jul 2026 12:30:00 +0000

KNOXVILLE, TENN. — ARK Homes for Rent has begun pre-leasing efforts for The Reserve at Three Ridges, a 126-unit build-to-rent townhome community located in northeast Knoxville. The community offers three- and four-bedroom homes ranging in size from 1,381 to 1,554 square feet. Interiors include open layouts, granite countertops, stainless steel appliances, smart home technology and walk-in closets, as well as attached garages. In addition, The Reserve at Three Ridges features direct access to I-40 and connections to major employers like Oak Ridge National Laboratory, Covenant Health, DENSO Manufacturing and the University of Tennessee.

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American Landmark Acquires 240-Unit Multifamily Community in Nashville

Abby Cox — Tue, 30 Jun 2026 13:56:35 +0000

NASHVILLE, TENN. — American Landmark Apartments has acquired Hamptons at Woodland Pointe, a 240-unit apartment community located in Nashville. The seller requested anonymity and the price was not disclosed. The property will be rebranded as Woodland Pointe Residences. Built in 2021, Woodland Pointe Residences offers a mix of one-, two- and three-bedroom apartments ranging in size from 677 square feet to 1,649 square feet, according to Apartments.com. Amenities include a swimming pool with a sundeck, fitness center, clubhouse, business center, dog park, barbecue grilling pavilion, car care center and controlled-access entry.

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Matthews Brokers $8.5M Sale of Retail Strip Center in East Nashville

John Nelson — Mon, 29 Jun 2026 12:22:00 +0000

NASHVILLE, TENN. — Matthews has brokered the $8.5 million sale of a retail strip center located at 1000 Woodland St. in east Nashville’s Five Points district. Built in 2023, the retail center spans 8,207 square feet and houses two tenants: Bartaco and Edley’s Bar-B-Que, which occupy the center on 10-year triple-net leases with annual rent escalations. Ben Burnett of Matthews brokered the transaction. The buyer was a locally based private investor completing a 1031 exchange. The seller was also not disclosed. Additionally, Matthews Capital Markets’ team secured a $5.1 million, five-year acquisition loan through a locally based lender for the buyer.

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CBL Sells Land at CoolSprings Galleria Mall in Metro Nashville to Greystar for 361-Unit Apartment Development

John Nelson — Thu, 25 Jun 2026 14:48:27 +0000

FRANKLIN, TENN. — CBL Properties, a publicly traded mall REIT based in Chattanooga, Tenn., has sold a 5.4-acre parcel at CoolSprings Galleria, a nearly 1.2 million-square-foot regional shopping mall in metro Nashville. The buyer, Charleston-based Greystar, plans to develop a Class A, 351-unit apartment community with 15,000 square feet of ground-floor retail space on the site, which was previously an underutilized parking lot. Greystar plans to break ground immediately and deliver the community in approximately two years. Built in 1991, CoolSprings Galleria is located at 1800 Galleria Blvd. in Franklin, about 15 miles south of downtown Nashville. According to CBL, the mall has 150 total stores, including department stores Belk, Dillard’s, JCPenney, Macy’s and Primark. Other stores include Apple, Barnes & Noble, Chili’s, Duluth Trading Co., H&M, Hot Topic, LEGO, L.L. Bean (soon to open), Spencer’s, Taco Bell, Target and Urban Air Adventure Park.

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Manova Partners Acquires 306,280 SF Industrial Facility in Portland, Tennessee

John Nelson — Thu, 25 Jun 2026 14:46:36 +0000

PORTLAND, TENN. — Manova Partners has acquired Gateway 65, a 306,280-square-foot industrial facility located along Vaughn Parkway in Portland, about 39 miles north of Nashville in Robertson County. The seller and sales price were not disclosed, but the property was listed on the website of local developer OTN Group. The facility features 36-foot clear heights, 10 loading doors (expandable to 45) and 4,500 amps of power. Built in 2025, the property is the North American headquarters of a global manufacturer of industrial guarding and safety solutions. The unnamed tenant occupies the facility on a 10-year lease, according to Manova Partners. The company was not disclosed, but local media outlets report that the tenant is Swedish-based Troax Group.

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

John Nelson — Tue, 23 Jun 2026 14:47:13 +0000

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

Abby Cox — Mon, 22 Jun 2026 13:27:27 +0000

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

John Nelson — Thu, 11 Jun 2026 14:19:40 +0000

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

Abby Cox — Fri, 05 Jun 2026 14:01:46 +0000

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

John Nelson — Thu, 04 Jun 2026 15:48:26 +0000

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

John Nelson — Wed, 27 May 2026 13:51:03 +0000

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

John Nelson — Wed, 27 May 2026 13:42:24 +0000

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

Abby Cox — Fri, 15 May 2026 13:18:26 +0000

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

Kristin Harlow — Wed, 13 May 2026 12:00:00 +0000

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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