Tennessee

Embrey Partners Breaks Ground on Apartment Community in Germantown Area

by John Nelson November 18, 2014

NASHVILLE, TENN. — Embrey Partners has begun construction on The Carillon, a 306-unit apartment community in Nashville’s Germantown neighborhood. The project will be located adjacent to First Tennessee Park, the new home of the Nashville Sounds, as well as a future library and archive campus. The four-story property will feature one- and two-bedroom units ranging from 599 to 1,704 square feet with rental rates ranging from $1,378 to $3,300 per month. The property will feature a 7,500-square-foot clubhouse with a fitness center, yoga studio, gaming center, presentation kitchen, private dining area, resort-style pool, grilling station, outdoor fireplace and a concierge system. The design team includes general contractor Embrey Builders, property manager Embrey Management Services, architect BGO Architects and engineer Littlejohn Engineering. Embrey Partners plans to deliver The Carillon in spring 2016.

November 18, 2014

Office Southeast Tennessee

Brasfield & Gorrie Completes $59M HQs for Tractor Supply Co. in Metro Nashville

by John Nelson November 17, 2014

BRENTWOOD, TENN. — Brasfield & Gorrie has completed the new Tractor Supply Co. corporate headquarters in Brentwood, roughly 11 miles south of Nashville. The $59 million project includes two four-story buildings totaling 260,000 square feet, a two-story atrium connecting the two buildings and a four-level parking deck with 1,000 parking spaces. Approximately 900 Tractor Supply employees have begun working from the new headquarters, which has a total capacity for 1,200 employees. The design team, including Hastings Architecture Associates and Eakin Partners, is pursuing LEED Silver certification for the office campus.

November 17, 2014

Loans Southeast Tennessee

BB&T Provides $9.1M Refinancing for Windsor Square in Knoxville

by John Nelson November 7, 2014

KNOXVILLE, TENN. — BB&T has provided a $9.1 million loan to refinance Windsor Square Shopping Center, a 299,329-square-foot retail center in west Knoxville’s Cedar Bluff submarket. The shopping center is located at North Seven Oaks Drive and Kingston Pike near I-40. The property is fully leased to tenants such as Old Time Pottery (67,800 square feet), Burlington Coat Factory, Big Lots and Carmike Cinemas. Southern Management and Development LLC (SMD) leases and manages the property. BB&T provided the loan to Windsor Square’s owner, an unnamed private partnership.

November 7, 2014

Office Southeast Tennessee

Brasfield & Gorrie Breaks Ground on $50M Office Tower in Nashville, Leases Space

by John Nelson October 28, 2014

NASHVILLE, TENN. — Brasfield & Gorrie has signed a lease to occupy office space at 1201 Demonbreun, a $50 million, 15-story office tower in Nashville’s Gulch neighborhood. Brasfield & Gorrie is the general contractor of the 680,000-square-foot project, which includes 305,000 square feet of office space and a 375,000-square-foot parking deck with 950 spaces. The project team includes developer Eakin Partners and architect Hastings Architecture Associates. Brasfield & Gorrie expects to deliver 1201 Demonbreun in late 2016 and move in to its office space in spring 2017. Other committed tenants include talent agency William Morris Endeavor, law firm Neal & Harwell and Sony Music Nashville.

October 28, 2014

Mixed-Use Southeast Tennessee

Ovation Mixed-Use Development Breaks Ground in Franklin’s Cool Springs Area

by John Nelson October 24, 2014

FRANKLIN, TENN. — Developers SouthStar LLC, Highwoods Properties and Bristol Development Group have broken ground on Ovation, a mixed-use development in Franklin’s Cool Springs market. The property will be located on a 145-acre site at the corner of McEwen Drive and Carothers Parkway. SouthStar will develop 500,000 square feet of retail space, 950 residential units and two hotels totaling roughly 450 rooms. Highwoods plans to develop up to 1.4 million square feet of office space, and Bristol Development plans to develop living spaces, including apartments and upscale million dollar estates. To date, more than $20 million has been invested in Ovation’s infrastructure. Construction on Ovation’s retail portion is slated to begin in the spring.

October 24, 2014

Loans Southeast Tennessee

Houlihan-Parnes Realtors Arranges Two Multifamily Loans in Tennessee Totaling $23.5M

by John Nelson October 20, 2014

NASHVILLE AND CLARKSVILLE, TENN. — Houlihan-Parnes Realtors LLC has placed two Freddie Mac loans totaling $23.5 million on two garden-style apartment complexes in Tennessee. The communities include a 312-unit property at 5242 Edmondson Pike in Nashville and a 248-unit property at 2190 Memorial Drive in Clarksville. Fred Stahl and Sheldon Stahl of Houlihan-Parnes arranged a $14 million loan for the Nashville asset with a fixed 3.96 percent interest rate and a $9.5 million loan for the Clarksville asset with a fixed 4.14 percent interest rate. Fred and Sheldon arranged the loans through Walker & Dunlop’s Atlanta office. Both multifamily communities are more than 95 percent occupied.

October 20, 2014

Multifamily Southeast Tennessee

Cushman & Wakefield | Commercial Advisors Brokers $13.5M Sale of The Horizon in Memphis

by John Nelson October 14, 2014

MEMPHIS, TENN. — Cushman & Wakefield | Commercial Advisors has brokered the $13.5 million sale of The Horizon, a high-rise condominium development located at 717 Riverside Drive in Memphis. The property sits on a 5.9-acre lot overlooking the Mississippi River. The 16-story, 155-unit property features a covered/controlled-access garage and indoor and outdoor swimming pools. The site also includes developable land for 141 additional high-rise units and 54 terrace homes. Mike Kemether of Cushman & Wakefield’s multifamily advisory group and Shane Soefker and Jacob Biddle of Cushman & Wakefield | Commercial Advisors’ capital markets team represented the seller in the transaction. The buyer was Dawn Properties LLC of Hattiesburg, Miss.

October 14, 2014

Retail Southeast Tennessee

Four Springs Capital Buys Industrial, Retail Properties for $34M

by John Nelson October 13, 2014

LAKE COMO, N.J. — Four Springs Capital Trust, a privately traded REIT, has purchased five properties in the Southeast and Midwest for a combined $34 million. The assets include a 71,917-square-foot Academy Sports + Outdoors in Mt. Juliet, Tenn.; a 71,514-square-foot Academy Sports + Outdoors in Jonesboro, Ark.; two 9,026-square-foot Dollar Generals located in Yulee and Middleburg, Fla.; and a 226,756-square-foot industrial asset leased to Gander Mountain Co. Inc. in Lebanon, Ind. The properties are all subject to long-term triple net leases.

October 13, 2014

Industrial Southeast Tennessee

Binswanger Brokers Sale of 865,000 SF Industrial Building in Tennessee

by John Nelson October 3, 2014

LAVERGNE, TENN. — Binswanger has brokered the sale of a single-story, 865,000-square-foot industrial facility located on a 53-acre site at 1714 Heil Quaker Blvd. in Lavergne. The property is located near I-24 and 12.5 miles away from Nashville International Airport. Ashley Capital purchased the asset from Whirlpool Corp. and plans to retrofit it. Ashley Capital has tapped Binswanger to sell the asset once the retrofit is complete. Michael Reid of Binswanger’s Atlanta office represented Ashley Capital in the transaction.

October 3, 2014

Market Reports Southeast Southeast Market Reports Tennessee

Transportation, Logistics Lift Memphis Industrial Market

by admin May 5, 2014

Rail, river, runway and road offer a robust quadra-modal transportation solution in Memphis, which creates an environment for on-going real estate development, investment and job growth in the region. Five Class 1 railroads operate major facilities in the Memphis metro. In recent years those railroads have collectively invested more than $1 billion in infrastructure to serve a growing customer base. Likewise, Memphis International Airport, the largest cargo airport in the U.S. and second-largest in the world, has been the center of much investment and activity. FedEx is currently adding an 88,000-square-foot, $20 million “cold-chain” facility at the airport to handle highly specialized bio-medical shipments, and UPS has recently leased an additional 26 acres on the airport property for a reported $80 million expansion of its existing Memphis airport sort facilities. Manufacturing Growth According to the Federal Reserve Bank of St. Louis, manufacturing job growth continues to outpace the U.S. with a 1 percent increase compared to 2012, while the nation only saw 0.1 percent growth in jobs overall. Manufacturers have been increasingly vigorous in the last several years, taking advantage of the go-to-market transportation infrastructure and a low-cost business environment with investments in new or expanded facilities by Nucor Steel, …

May 5, 2014

Newer Posts

Older Posts