NASHVILLE, TENN. AND COLUMBUS, GA. — Pinnacle Financial Partners (NASDAQ: PNFP) and Synovus Financial Corp. (NYSE: SNV) have entered into a definitive agreement to combine operations in an all-stock transaction valued at $8.6 billion. The price reflects the closing stock prices for the two companies on July 21, the latest date unaffected by the merger announcement — $116.83 per share for Pinnacle and $55.53 for Synovus. Under terms of the agreement, Pinnacle shareholders will own approximately 51.5 percent of the combined company, which will operate under the Pinnacle name and trade under the PNFP ticker symbol on the New York Stock Exchange. Pinnacle Financial will move its headquarters to Atlanta while the retail bank branch division of the combined company, which will operate under the Pinnacle Bank brand, will be based in Nashville. As of June 30, Synovus operates 244 bank branches in Georgia, Alabama, Florida, South Carolina and Tennessee. Pinnacle operates 179 bank branches in Tennessee, Virginia, North Carolina, South Carolina, Georgia, Alabama, Kentucky and Florida, according to the FDIC. The Pinnacle-Synovus merger will create the largest bank holding company in Georgia and the largest bank in Tennessee. The transaction, which is expected to close in first-quarter 2026, has …
CLARKSVILLE, TENN. — Hamilton Development has broken ground on NorthPark Logistics, a 2.1 million-square-foot industrial park in Clarksville, a city in northern Tennessee. The project marks the first Class A speculative industrial park in Clarksville, according to the Nashville-based developer. The 200-acre site at 4175 Guthrie Highway will feature 14 buildings at full build-out. Located within 50 miles of Nashville, the NorthPark Logistics site is directly served by R.J. Corman rail, offers immediate access to I-24, is within an hour’s drive from both Clarksville Regional Airport and Nashville International Airport and is adjacent to the $3.2 billion LG Chem plant. In addition to LG Electronics, Clarksville is home to industrial tenants such as Hankook Tire, Google, Bridgestone and Amazon. “As industrial employers continue to invest billions of dollars in the area, we believe there will be increasing demand for institutional-quality industrial space,” says Whitfield Hamilton, CEO of Hamilton Development. NorthPark Logistics will feature opportunities for flexible build-to-suit or speculative space, with the ability to accommodate tenants ranging from 18,200 to 1.2 million square feet. Hamilton Development has begun construction on the first phase of the development, which encompasses four buildings totaling nearly 550,000 square feet. Building 1, a 206,752-square-foot property, …
GERMANTOWN, TENN. — Cushman & Wakefield Commercial Advisors has arranged the sale of Germantown Station, a 12,000-square-foot retail center located at 1217-1227 S. Germantown Road. Built in 2002, the property is situated on 1.3 acres and was fully leased to tenants including State Farm, Simmons Bank, Alliance Animal Health, Breakaway Running, A&A Nail Spa and Las Tortugas Deli Mexicana at the time of sale. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial represented the seller, an entity doing business as Germantown Station LLC, in the transaction. The buyer was Ranjit Komeravelli.
NASHVILLE, TENN. — Greenville, S.C.-based development firm RealtyLink LLC has sold a freestanding grocery store located at 5821 Nolensville Pike in Nashville for $9.5 million. Phoenix-based Sprouts Farmers Market occupies the 22,988-square-foot retail property, which was developed in 2023 on a 2.9-acre parcel. The triple-net lease features five five-year renewal options with rental increases every five years. Jeff Lefko and Bill Asher of Hanley Investment Group Real Estate Advisers, along with ParaSell Inc. and Joe Caccamo and Lea Kuehnhackl of CP Partners, represented RealtyLink in the sale. Chris Thompson of JRW Realty in Pasadena, Calif., represented the buyer, a private investor based in the Los Angeles area.
LA VERGNE, TENN. — Brennan Investment Group has broken ground on two distribution centers in La Vergne, a city in Nashville’s Southeast industrial submarket. Brennan plans to deliver the two Class A properties, which will total 351,200 square feet, in second-quarter 2026. The facilities will be located on a 29-acre site that is within five miles of I-24 and within 10 miles of Nashville International Airport. Chicago-based Brennan will build 167,200- and 184,000-square-foot, rear-load industrial buildings, each designed to accommodate up to four tenants with ample trailer and employee parking, 32-foot clear heights and ESFR sprinkler systems.
ANTIOCH, TENN. — HKS Real Estate Advisors has arranged $25 million in financing for the development of a dual-branded hotel located within the master-planned community of Century Farms in Antioch, approximately 12 miles southeast of downtown Nashville. The building will offer 189 rooms under the Hampton Inn brand and the Home2 Suites by Hilton brand. Mountain Commerce Bank provided $15.6 million in senior debt notes, while Nuveen provided $9.9 million in C-PACE financing for the borrower, Nish Jobalia and Nick Patel of Milap Hotels LLC.
TULLAHOMA, TENN. — Hilton has opened its first ever LivSmart Studios by Hilton hotel located at 251 William Northern Blvd. in Tullahoma, a city in Middle Tennessee near the Alabama border. Hilton operates the 89-room LivSmart Studios by Hilton Tullahoma, which was developed in partnership with 3H Group Inc. and Aztec Group LLC. The hotel is the first Hilton-branded property in Tullahoma. LivSmart Studios is an extended stay hotel brand that appeals to guests seeking room accommodations for 10 or more nights. Each room at LivSmart Studios by Hilton Tullahoma features a full kitchen with a two-burner cooktop, refrigerator, dishwasher, microwave and kitchen cookware. Amenities include a laundry room, fitness center, convenience store and an outdoor patio area with fire pits and grills. Hilton, along with development partner Sun Management & Development Corp., plans to open the second LivSmart Studios-branded hotel later this summer in Kokomo, Ind.
KNOXVILLE, TENN. — Cronheim Hotel Capital has secured $39 million in construction financing for AC Hotel Knoxville Downtown, a 161-room AC by Marriott-branded hotel that will be located at 427 Walnut St. and 416 Locust St. in downtown Knoxville. The non-recourse financing was structured with a 75 percent loan-to-cost (LTC) ratio and features a C-PACE component. The borrower, Vector Hospitality Inc., plans to deliver the seven-story hotel in winter 2026. The property will feature a rooftop bar and kitchen that will offer views of Neyland Stadium, home of the University of Tennessee Volunteers’ football team.
KNOXVILLE, TENN. — Gorney Realty Co. LLC, a family-owned office and industrial investor based in Nashville, has purchased Cedar Ridge at Cedar Bluff, a 90,000-square-foot office building located at 480 N. Cedar Bluff Road in Knoxville. The seller and sales price were not disclosed. The five-story property was 93 percent leased at the time of sale to approximately 30 tenants, some of which have been occupants for nearly 20 years. Gorney Realty plans to upgrade Cedar Ridge at Cedar Bluff’s common areas, including the building’s lobby and restrooms.
Cushman & Wakefield Commercial Advisors Arranges Sale-Leaseback of Two Memphis Industrial Facilities
MEMPHIS, TENN. — Cushman & Wakefield Commercial Advisors has arranged the sale-leaseback of two industrial facilities in Memphis totaling 250,000 square feet. AIC purchased the facilities, located at 2149 Harbor Ave. and 2172 Wharf St., from the tenant, Red Dot Corp. Red Dot designs and manufactures HVAC systems for commercial and military vehicles. Landon Williams and Katie Hargett of Cushman & Wakefield Commercial Advisors, along with Frank Maldonado and Dan Johnsen of Cushman & Wakefield, represented Red Dot in the sale and long-term lease of the two facilities. Terms of the transaction were not released.