The Nashville retail market has firmly established itself as one of the strongest and most dynamic in the United States. From luxury national chains to local entrepreneurial storefronts, retailers are increasingly drawn to the city’s diverse and resilient economy — and for good reason. Over the past decade, Nashville has been one of the fastest-growing cities in the country, with consistent year-over-year population and employment gains. This trajectory has been fueled by a favorable business climate, highlighted by the absence of a state income tax, as well as local policies that encourage corporate investment and relocation. The results are tangible: global and domestic companies alike have planted deep roots in Middle Tennessee. Major players such as AllianceBernstein, Amazon, Nissan, Bridgestone, Asurion and Deloitte have relocated or expanded here, joining long-standing Nashville-based giants like HCA Healthcare and Tractor Supply Co., both of which continue to grow their local footprint. This economic expansion has powered steady demand in the retail real estate sector. In just the past year, a wave of retailers — including Whataburger, In-N-Out Burger and 7-Eleven — have entered the Nashville market, underscoring its appeal to both national and regional brands. These additions further diversify a landscape already shaped …
NASHVILLE, TENN. — JLL Capital Markets has facilitated the $50 million sale of Edgehill Village, a 58,468-square-foot mixed-use property located in Nashville’s Music Row district. Originally built in 1920 and 1934 and renovated in 2016, the property comprises 2.4 acres of retail and office space. Tenants at the property include Van Leeuwen Ice Cream, Barcelona, Consider the Wldflwrs, Warby Parker and Vow’d. Brad Buchanan and Jim Hamilton of JLL’s Investment Sales and Advisory team represented the seller, Charlotte-based Asana Partners, in the transaction. The buyer was not disclosed.
CHATTANOOGA, TENN. — Flagship Healthcare Properties has acquired East Ridge Physicians Building, a 27,657-square-foot medical outpatient building located at 929 Spring Creek Road in Chattanooga. Situated adjacent to the 128-bed HCA Parkridge East Hospital, the Class A facility was fully leased at the time of sale. The buyer acquired the property through its private REIT, Flagship Healthcare Trust. The seller and sales price were not disclosed. Built in 1985, East Ridge Physicians Building’s interior and exterior were renovated last year by the previous owner. Flagship will provide property management and asset management services for the facility.
CARYVILLE, TENN. — Marcus & Millichap has arranged the $5.9 million sale of a 62-room Hampton Inn hotel in Caryville, roughly 24 miles north of Knoxville via I-75. Located at 4459 Veterans Memorial Highway along Cove Lake, the 42,000-square-foot Hampton Inn was originally built in 1994. Amenities at the property include an outdoor swimming pool, fitness center and a business center. Alexandre Duong and Lucas Jalenak of Marcus & Millichap’s Cleveland and Nashville offices marketed the property on behalf of the undisclosed seller. Alexandre Duong and Kishan Patel from the firm’s Louisville office procured the buyer. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee for the deal.
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Morgan Properties Acquires 11-Property Midwest Multifamily Portfolio for $501M
CONSHOHOCKEN, PA. — Morgan Properties has acquired a portfolio of 3,054 apartment units across 11 communities in eight states. Chicago-based Trilogy Real Estate Group was the seller in the deal, which was valued at $501 million. The communities — which are located in Illinois, Indiana, Kentucky, Michigan, Missouri, Ohio, Oklahoma and Tennessee — were built between 1989 and 2018. Adam Doneger and Josh King of Newmark brokered the sale of 10 of the communities in the portfolio, while Walker & Dunlop brokered the sale of one property. Morgan Properties states that the firm plans to implement a value-add strategy to increase the marketability and comfort of the properties. Interior upgrades will include the installation of new flooring, appliances, cabinets and countertops, as well as smart home features. The new owner will also expand and refresh the onsite amenities. The acquisition expands Morgan Properties’ apartment holdings to more than 100,000 units across the nation. The Conshohocken-based development and investment firm now owns and operates roughly 360 communities in 22 states. “As we continue to strategically expand our national portfolio, we remain selective and opportunistic in this environment,” said Jonathan Morgan and Jason Morgan, co-presidents of Morgan Properties. “Morgan Properties has a proven …
NASHVILLE, TENN. — A partnership between Chicago-based co-developers Ridgeline Development Partners and Deep Cove Partners plans to break ground this month on The Bend at Capitol District, a mixed-use development that will span nearly 550,000 square feet in Nashville. The nearly three-acre project is the second phase expansion of the TownePlace Suites at North Capitol development that was completed in 2020. The Bend will comprise an eight-story, 188-room Moxy Capitol District hotel; 17,000 square feet of shops and restaurants within an interconnected paseo; and a 10-story residential building that will house both The Delle at The Bend-Apartments by Marriott Bonvoy (128 extended stay units) and The Residences at The Bend (133 apartments). The Bend’s design-build team includes Nashville-based Smith Gee Studio (architect), New York-based S9 Architecture (architect), Skanska USA (general contractor), RaganSmith Associates (engineer), Power Management Corp. (engineer), JLL (project manager) and The Gettys Group (interior designer).
NASHVILLE, TENN. — BEB Lending has provided a $10.3 million loan for the refinancing of South Plaza Shoppes, a 163,777-square-foot shopping center located at 5620 Nolensville Pike in Nashville. Tenants at South Plaza Shoppes include Ross Dress for Less, Burlington and Dollar Tree. The undisclosed borrower will use the loan to pay off existing debt, as well as cover leasing costs and planned capital expenditures at the property. Sean Silverbrook and Zach Feldman of BEB Lending originated the loan. This transaction represents BEB Lending’s first loan in Nashville and second loan in the state of Tennessee.
KNOXVILLE, TENN. — PPR Capital Management, a private equity firm based in Berwyn, Pa., has purchased Highline at Knoxville, a new build-to-rent residential community in Knoxville, for $87 million. The acquisition includes both Phase I, which comprises 110 single-family rental (SFR) homes currently in lease-up, and Phase II, 151 townhomes and detached SFR homes that will break ground immediately and be delivered in tranches between 2026 and 2027. Project partners include general contractor BTR Group and property manager Greystar. PPR also partnered with Center Creek Capital Group, a real estate investment and development firm, on the acquisition. The deal structure includes a total equity investment of $26.6 million, with PPR contributing $25 million as the primary equity partner. Highline at Knoxville represents the first BTR purchase and second acquisition in Tennessee for PPR.
NASHVILLE, TENN. — Walker & Dunlop (NYSE: WD) has arranged a $253 million construction loan for the development of the Pendry Nashville and Pendry Residences Nashville, a luxury 30-story hotel and condominium tower located in the city’s Gulch district. Pendry Hotels & Resorts, in partnership with investment and development firms SomeraRoad and Trestle Studios, plan to immediately break ground on the project. Upon completion, Pendry Nashville will include 180 guestrooms and suites, while 146 for-sale residences will be offered at Pendry Residences. The Pendry Nashville Hotel & Residences development is part of Phase III of the Paseo South Gulch master-planned micro-neighborhood, a 1 million-square-foot mixed-use district developed by SomeraRoad. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Michael Diaz, Sean Bastian and Jackson Irwin of the Walker & Dunlop New York Capital Markets team arranged the loan. Bank OZK and InterVest Capital Partners provided the financing package on behalf of SomeraRoad and Trestle Studio. Jay Morrow and Carter Gradwell of the Walker & Dunlop Hospitality team represented SomeraRoad throughout the financing process, working in collaboration with the firm’s New York Capital Markets team. “Having worked with SomeraRoad to capitalize prior phases of their Paseo South Gulch master-planned development, we are …
BRENTWOOD, TENN. — Regency Centers Corp. has acquired Brentwood Place, a 320,000-square-foot power retail center located in the south Nashville suburb of Brentwood. According to the Nashville Business Journal, the center sold for $118.5 million. The property was 95 percent leased at the time of sale and comprises more than 100,000 square feet of anchor retail space leased to Nordstrom Rack, Total Wine & More, T.J. Maxx/HomeGoods and Golf Galaxy. Originally developed in 1973, Brentwood Place is adjacent to the site of the future 350,000-square-foot Vanderbilt Medical Campus.