Tennessee Archives - REBusinessOnline

JLL Negotiates Sale of Whole Foods-Anchored Retail Center in Metro Nashville

Abby Cox — Mon, 12 Oct 2026 13:27:45 +0000

FRANKLIN, TENN. — JLL Capital Markets has arranged the sale of Southside at McEwen, a 92,470-square-foot retail center located in Franklin, roughly 20 miles south of downtown Nashville. Jim Hamilton, Brad Buchanan and John Perry Hilton of JLL represented the seller, New York City-based Nuveen Real Estate, in the transaction. Dallas-based Lincoln Property Co. served as the investment advisor for the buyer, a high net-worth family office. The sales price was not disclosed. Whole Foods Market anchors Southside at McEwen, which was built in 2012 on approximately 10.5 acres. The fully leased center features a mix of additional tenants such as lululemon, Flower Child, Solidcore, BrickTop’s, Kendra Scott, Fab’rik and PNC Bank.

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Subtext Completes Student Housing Developments in Florida, Tennessee

John Nelson — Tue, 06 Oct 2026 15:41:08 +0000

ORLANDO, FLA. AND KNOXVILLE, TENN. — Subtext has completed two student housing developments in Florida and Tennessee. Projects include VERVE Orlando, a 626-bed community located at 3133 N. Alafaya Trail near the University of Central Florida campus in Orlando; and EVER Knoxville, a 498-bed property located at 1919 Lake Ave. near the University of Tennessee campus in Knoxville. VERVE Orlando spans 446,078 square feet and offers 200 units in studio through five-bedroom configurations. Shared amenities include a 24-hour fitness center, dedicated yoga room and wellness suite with sauna and meditation rooms; a courtyard pool; outdoor green space with fire pits and grilling stations; a karaoke lounge; golf simulator; speakeasy with arcade games; study lounge with private and group study pods, an outdoor study breezeway and a podcast and content creation room; lobby coffee bar; and a pet spa. VERVE Orlando was developed in partnership with FrontRange Capital Partners and Nuveen Real Estate. Financing was provided by Simmons Bank. Additional members of the development team included Dwell Design Studio, ESG Architecture & Design, Kimley-Horn and Associates and Live Oak Contracting. The 14-story EVER Knoxville development spans 329,294 square feet and offers 136 units in one- through-five-bedroom configurations. Shared amenities include a…

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BWE Arranges $42.5M Loan to Refinance Historic Baggage Building in Nashville

Abby Cox — Fri, 02 Oct 2026 13:32:56 +0000

NASHVILLE, TENN. — BWE has arranged a $42.5 million loan to refinance the historic Baggage Building, a 61,000-square-foot office and retail property located at 111 10th Ave. S near Nashville’s Gulch district. Nick Harb of BWE secured the financing through a regional bank on behalf of the borrower, DZL Properties. The loan features a “meaningful” interest-only payment period. The Baggage Building was originally built between 1898 and 1900 as part of the Louisville-Nashville Railroad/Union Station terminal complex used to handle luggage and freight. Renovated in 1999, tenants at the four-story property include Pinnacle Bank, The Finch Grill & Raw Bar and Global Medical Research.

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Lincoln Property Co. Buys 377,529 SF Industrial Park in Metro Nashville

John Nelson — Thu, 24 Sep 2026 12:26:00 +0000

LEBANON, TENN. — Lincoln Property Co. has purchased Park 109, a four-building industrial park in metro Nashville spanning 377,529 square feet. Built in 2022, the property comprises four multi-tenant, shallow-bay distribution buildings on 32.8 acres along Tenn. Highway 109 in Lebanon, about 30 miles east of Nashville. Gary Kobus, Jacob Emery, Tyler Jones and Lane Baker represented the Dallas-based buyer in the transaction internally. The seller and sales price were not disclosed. Park 109 was fully leased at the time of sale.

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Clear Blue Breaks Ground on 228-Unit Affordable Housing Community in Dickson, Tennessee

John Nelson — Thu, 24 Sep 2026 12:25:00 +0000

DICKSON, TENN. — The Clear Blue Co. has broken ground on Honeywood Dickson, a 228-unit affordable housing community located at 841 Cowan Road in Dickson, about 40 miles west of Nashville. The property will feature one- to four-bedroom homes reserved at 30, 60 and 80 percent of the area median income (AMI). The $88.1 million project is being advanced through collaboration among Clear Blue, HUD, the City of Dickson, Dickson County, the Tennessee Housing Development Agency (THDA), Regions Bank, the Dickson Housing Authority and other public and private partners. Regions Real Estate Capital Markets provided a Freddie Mac loan for the project, and Regions Affordable Housing provided construction and equity bridge loans and made an equity investment in the project’s 4 percent LIHTC allocation by the THDA. The Health and Educational Facilities Board of the City of Dickson authorized the issuance of up to $48 million in tax-exempt bonds that were underwritten by Raymond James National Housing Group. Additionally, the Dickson Housing Authority will provide development-based vouchers for 60 homes. The design-build team includes architect Studio A Architecture and general contractor BACAR Constructors. Clear Blue plans to deliver first units at Honeywood Dickson next fall and fully deliver the property in…

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Blackfin, Enterprise to Acquire Apartment Community in South Nashville for $26M

John Nelson — Tue, 22 Sep 2026 14:02:32 +0000

NASHVILLE, TENN. — Blackfin Real Estate Investors LLC and Enterprise Community Partners plan to acquire Brookridge Apartments, a 177-unit community located at 100 Brookridge Trail in Nashville. The seller and sales price were not disclosed. Enterprise is acquiring its equity stake in the venture via its Enterprise Preservation Fund VI. Situated on the city’s south side, Brookridge Apartments is a garden-style property that was delivered in 1986 and comprises primarily two-bedroom apartments with units averaging 1,023 square feet in size.

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GBT Realty to Develop 300,000 SF Retail Center in Gallatin, Tennessee

Abby Cox — Mon, 21 Sep 2026 13:37:57 +0000

GALLATIN, TENN. — GBT Realty Corp. plans to develop The Crossroads of Gallatin, a nearly 300,000-square-foot shopping center located in Gallatin, a middle Tennessee city approximately 30 miles northeast of Nashville. Current development plans include roughly 30,000 square feet of divisible shop space, multiple large-format retail spaces ranging up to 55,000 square feet and six outparcels. The Brentwood, Tenn.-based developer is currently in discussion with multiple dining, retail, health and fitness and service-based retailers and restaurants. Further details of the project were not disclosed. Upon full build-out, The Crossroads of Gallatin will be the largest shopping destination constructed in the Nashville MSA since 2015, according to GBT Realty.

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Brennan Breaks Ground on 210,000 SF Industrial Facility in Nashville

Abby Cox — Mon, 14 Sep 2026 13:30:19 +0000

NASHVILLE, TENN. — Brennan Investment Group has broken ground on a 210,000-square-foot speculative industrial facility in the historic Whites Creek neighborhood of Nashville. The building is expected to be completed in the second quarter of 2027. Situated on 17 acres, the rear-load building will feature 260-foot depths, ample trailer and car parking spaces, 32-foot clear heights, an ESFR sprinkler system, concrete tilt-wall construction and the ability to accommodate up to five tenants.

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RISE, University of Tennessee Complete 1,024-Bed Residence Hall

John Nelson — Thu, 10 Sep 2026 13:53:20 +0000

KNOXVILLE, TENN. — A public-private partnership between RISE: A Real Estate Co. and the University of Tennessee has completed Torchbearer Hall, a 1,024-bed residence hall development on the institution’s campus in Knoxville. The project is Phase II of a larger development plan that has delivered 3,000 beds to date. The property features a centralized hub with reception areas, staff offices, community kitchens and lounges. Additional shared amenities include study rooms, multipurpose spaces, resident gathering areas and laundry facilities. The development team for Torchbearer Hall included Niles Bolton Associates, Cope Architecture, Blaine Construction, Brailsford & Dunlavey, RBC Capital Markets and Provident Resources Group.

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Holladay, Urban League Open East Nashville Affordable Housing Community

John Nelson — Thu, 03 Sep 2026 13:27:25 +0000

NASHVILLE, TENN. — Holladay Ventures and the Urban League of Middle Tennessee (ULMT) have delivered Park24, a 140-unit affordable housing community in east Nashville. The property is located at 660 Joseph Ave. in the city’s McFerrin Park neighborhood. Park24 offers one-, two- and three-bedroom apartments affordable to households earning 30 to 80 percent of the area median income (AMI). Capital partners for the project included Amazon Housing Fund, U.S. Bancorp Impact Finance, Cedar Rapids Bank and Trust and Barnes Fund, which provided a $2 million grant. Community partners and consultants included ULMT, Pillars Development, PATHE and the McFerrin Park Neighborhood Association. Holladay Ventures also credited the Mayor’s Office of Nashville-Davidson County Metro, the Metropolitan Development and Housing Agency (MDHA), Tennessee Housing Development Agency and Metro Council as “backing” the project. The ULMT operates a 2,200-square-foot empowerment center onsite at Park24, which also features 2,500 square feet of ground-level commercial space that The Cauble Group is marketing for lease.

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Scion Group, Ares Acquire Student Housing Portfolio in Sun Belt for $435M

John Nelson — Tue, 01 Sep 2026 12:00:00 +0000

CHICAGO — A partnership between The Scion Group and funds managed by Ares Real Estate has acquired a portfolio of four student housing properties in Sun Belt markets. The aggregate purchase price for the 2,315-bed portfolio was approximately $435 million. The seller, Chicago-based SCHENK+, developed three of the properties and acquired and repositioned the fourth. The portfolio includes two communities serving students attending Texas State University in San Marcos, Texas: The Parlor and Hillside San Marcos. The other two properties are Tenn near University of Tennessee in Knoxville and Georgia Heights near the University of Georgia in Athens. Chicago-based Scion currently operates in all three student housing markets. The company says this acquisition represents a “comprehensive exit” for SCHENK+’s founder, Jared Schenk. “Jared Schenk is one of the true pioneers of off-campus student housing, and he has built an incredible portfolio of high-quality communities,” says Robert Bronstein, CEO of Scion. “Scion is pleased to add another successful portfolio execution to our track record, and we are even more excited to welcome these communities to our portfolio.” Founded in 1999, Scion is the world’s largest owner of off-campus student housing. Following this transaction, Scion will operate nearly 117,000 beds across 187…

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Marcus & Millichap Brokers $24.5M Sale of Medical Office Building in Germantown, Tennessee

Abby Cox — Mon, 31 Aug 2026 13:21:53 +0000

GERMANTOWN, TENN. — Marcus & Millichap has brokered the $24.5 million sale of Conrad Pearson Clinic, a 33,777-square-foot medical office building located in Germantown, roughly 21 miles southeast of Memphis. Spencer Koch and Chris Biuso of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee in the transaction. Built in 2002 at 1325 Wolf Park Drive, Conrad Pearson Clinic and its integrated affiliate, the Wolf River Surgery Center, fully occupied the property at the time of sale, according to LoopNet Inc. The property is situated near Methodist Le Bonheur Germantown Hospital, Saint Francis Medical Partners Germantown and Baptist Memorial Rehabilitation Hospital.

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Urban Story Ventures, Hill Partners to Develop $350M Mixed-Use District at The Bend in Chattanooga

John Nelson — Tue, 25 Aug 2026 14:18:48 +0000

CHATTANOOGA, TENN. — A partnership between Urban Story Ventures and Hill Partners has announced plans for a new $350 million retail and residential district at The Bend, a 120-acre mixed-use redevelopment in downtown Chattanooga. Situated along “the bend” in the Tennessee River, the new district will feature an open-air layout and comprise restaurants, shops, service retailers, offices and residences. Perkins&Will is providing the master plan design based off Urban Story Ventures’ vision for the project. According to Urban Story Ventures, existing developments that have inspired the design behind the new retail and residential district at The Bend include The Wharf in Washington, D.C., and Biltmore Village in Asheville, N.C. Other aspects of The Bend include a $300 million amphitheater being developed by Venu Holding Corp., which is planning to complete the venue by late 2028. Construction of the new district is expected to begin next year, with an anticipated completion timeline of the fall of 2028, subject to the timing of preleasing.

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Matthews Arranges Sale of 574-Unit Self-Storage Facility in Chattanooga

John Nelson — Tue, 18 Aug 2026 14:46:59 +0000

CHATTANOOGA, TENN. — Matthews has arranged the sale of a 574-unit self-storage facility located at 606 Manufacturers Road in Chattanooga’s Northshore neighborhood. Extra Space Storage manages the property, which was built in 2021 and offers 75,520 square feet of rentable climate-controlled space. Austin McLeod and Hunter Reynolds of Matthews represented the seller, an unnamed developer, in the transaction. The buyer, a private equity firm based in New York and repeat client of Matthews, purchased the property for an undisclosed price. The facility was 95 percent occupied at the time of sale.

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Redevelopment, Reinvestment Shape Memphis Retail Sector’s Next Chapter

John Nelson — Mon, 17 Aug 2026 11:57:00 +0000

For years, much of Memphis’ retail growth has been concentrated in the suburbs. More recently, however, redevelopment activity in East Memphis, Midtown and Downtown has created a new source of investment and retail demand. While suburban growth remains steady, some of the market’s most notable projects are occurring in established areas where older properties are being redeveloped and repositioned for new uses. As a result, some of the market’s most significant activity is occurring within existing commercial corridors rather than through large-scale retail expansion. Memphis remains a healthy retail market, although growth has become more measured than it was a few years ago. Retail vacancy is forecast to reach 5 percent in 2026, while average asking rents are projected to climb to $14.20 per square foot. New supply also remains relatively limited. After more than 400,000 square feet of retail space was delivered annually in both 2023 and 2024, just 250,000 square feet is forecast to come on line in 2026. Limited new supply has helped support rent growth across existing shopping centers. Some of the strongest examples of this trend can be found in Midtown, Downtown and East Memphis, where older sites are being transformed into new mixed-use developments.…

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Outpatient Care Is Becoming Valued Member of Mixed-Use Developments

John Nelson — Thu, 13 Aug 2026 11:30:00 +0000

By Emily Buchanan of Gensler For decades, healthcare delivery was something that happened somewhere else: a hospital campus on the edge of town, a medical office park behind a parking garage, a clinic that required a car and a calendar. Today, patient expectations have shifted. Health systems chase convenience, and outpatient facilities are moving closer to where people live. For mixed-use developers, that shift represents one of the most compelling value propositions available: healthcare not as a use, but as an amenity. The case isn’t complicated. Locating outpatient clinics within a mixed-use development improves quality of life for residents, provides healthcare tenants with a stable and captive patient base and gives medical staff a commute that doesn’t erode the beginning and end of every shift. When all three outcomes land in the same project, developers are not just filling square footage; they are building a functioning community. Developer’s perspective Healthcare tenants are, by almost every measure, among the most valuable tenants a mixed-use developer can attract. They sign long-term leases, they withstand economic downturns, and they generate consistent daily foot traffic that benefits the retail and food-and-beverage tenants around them. Pharmacies, fitness studios and cafés thrive when an outpatient clinic…

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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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