KNOXVILLE, TENN. — Sila Realty Trust Inc., a publicly traded healthcare REIT based in Tampa, has purchased an inpatient rehabilitation facility in Knoxville for $35.1 million. The seller was not disclosed. The property is Sila Realty Trust’s first acquisition in Tennessee. Built in 2021 within the 109-acre Tennova Health Park, the 70,000-square-foot property was fully leased at the time of sale to Knoxville Rehabilitation Hospital LLC, which is a joint venture between the University of Tennessee Medical Center, Lifepoint Health and Tennova Healthcare, an affiliate of Community Health Systems.
CHATTANOOGA, TENN. — Swinerton has begun the $4.5 million renovation of a T-Mobile call center in Chattanooga. The facility houses desks and offices for 936 T-Mobile employees and will remain open during construction. The overhaul of the 13,161-square-foot facility is expected to last about six months. Kansas City-based Perspective Architecture + Design is overseeing the design of the renovation, which will include upgrading the security desk and surrounding area with new doors, millwork, flooring and ceiling; transforming underutilized space into a mother’s room, wellness room and additional restroom; adding two restrooms and upgrading an existing restroom for all-gender use; installing audio/visual equipment and a security system featuring video monitoring; upgrading the lobby with new front doors, lighting, ceiling, furniture and branding elements; improving the cafeteria and kitchen by expanding the back-of-house, upgrading finishes and installing new culinary and ventilation equipment; adding new furniture, grills, fans and lounge area to the outdoor patio; and installing two parking lot EV chargers.
MURFREESBORO, TENN. — SmartStop Self Storage REIT Inc. has expanded its presence in the Tennessee market after acquiring a storage facility at 1323 N.W. Broad St. in Murfreesboro, roughly 35 miles southeast of downtown Nashville. The seller and sales price were not disclosed. The newly acquired facility spans 62,100 rentable square feet and features 471 storage units, including 384 drive-up units and six RV units distributed across 12 single-story buildings. California-based SmartStop has an owned or managed a portfolio of 217 operating properties in 23 states, Washington, D.C., and Canada, comprising approximately 155,700 units and 17.5 million rentable square feet.
NASHVILLE, TENN. — Origin Investments has purchased Queens WeHo, a 221-unit apartment community located in downtown Nashville’s Wedgewood-Houston neighborhood. The sales price was not disclosed, but multiple media outlets report the property traded for $79.4 million. Queens WeHo represents the second acquisition of the Chicago-based buyer’s Origin Exchange Delaware Statutory Trust (DST) investment program that launched in June 2024. The seller, Proffitt Dixon, delivered Queens WeHo in 2023. The property was 94 percent occupied at the time of sale and features a mix of studio, one-, two- and three-bedroom apartments ranging in size from 559 to 1,120 square feet. The ground level features a 6,461-square-foot restaurant space fully occupied by Mercado by Butchertown. Russ Oldham led the Walker & Dunlop brokerage team in the sale. Jamie Butler, Cliff Ayers, Jason McFadden, Brett McGuire and Michael Bowles, also with Walker & Dunlop, arranged acquisition financing on behalf of Origin Investments.
NASHVILLE, TENN. — A joint venture between Property Markets Group (PMG), New Valley Realty and RMWC has completed vertical construction on Society Nashville, a 16-story apartment tower project located in the city’s Gulch neighborhood. Upon completion, the development will offer 502 residential units. Units will include a blend of traditional apartments in studio, one-, two- and three-bedroom layouts, as well as a small number of co-living “rent-by-bedroom” options. Designed by Baker Barrios Architects, Society Nashville will also feature 8,400 square feet of retail space and 485 parking spaces. Amenities at the building will include a pool deck, fitness center, coworking spaces, music room and rooftop sky deck. In 2022, the developers received a $162 million construction loan from Square Mile Capital for the project. CrowdStreet also provided $35 million in equity.
LEBANON, TENN. —Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $52 million sale of Stonehenge, a 228-unit multifamily property in Lebanon, roughly 20 miles east of downtown Nashville. Completed in 2023, the property is situated on 13 acres and offers units ranging in size from one- to three-bedrooms. Amenities include a saltwater swimming pool, clubhouse, fitness center and an entertainment lounge. David Stollenwerk, Will Balthrope and Drew Garza of IPA represented the seller and secured the buyer in the transaction. The buyer and seller were not disclosed. Brian Eisendrath, Cameron Chalfant and Jake Vitta of IPA Capital Markets arranged acquisition financing for the buyer. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee for the deal.
BRASELTON, GA. AND MEMPHIS, TENN. — CBRE has arranged the sale of a two-property industrial portfolio in Braselton and Memphis totaling more than 1.6 million square feet. The facilities include a 613,440-square-foot cross-dock warehouse in Braselton, a city on the northeast outskirts of the metro Atlanta area, and a 1 million-square-foot cross-dock warehouse in Memphis. The Braselton facility was built in 2016 and is fully leased to a large e-commerce company, and the Memphis property was built in 2021 and is fully occupied by Medtronic. Frank Fallon, Trey Barry, José Lobon, Royce Rose, George Fallon, Ryan Bain, Zach Graham and Bentley Smith of CBRE represented the seller, JW Mitchell Co., in the transaction. The buyer and sales price were not disclosed. Additionally, Brian Linnihan, Mike Ryan, Richard Henry and Taylor Crowder of CBRE’s debt and structured finance team in Atlanta arranged a $69.9 million acquisition loan through Wells Fargo on behalf of the buyer.
NASHVILLE, TENN. — Portman has signed contrast therapy studio SweatHouz to a retail lease at Starling, a 359-unit apartment community in Nashville’s Germantown neighborhood. With this lease, Starling’s 17,000 square feet of retail space is fully committed to concepts including Toastique, Solidcore, Retrograde Coffee, Social Cantina, KyuRamen and PannePazze. The new SweatHouse is set to open in August and will be the brand’s first location in Nashville and second in Tennessee. The location will offer private suites featuring infrared saunas, cold plunges and vitamin-C showers for members.
THOMPSON’S STATION, TENN. — Mall owner Simon Property Group (NYSE: SPG) has entered into an agreement to purchase a development site in metro Nashville with plans to build a luxury shopping and lifestyle destination known as Nashville Premium Outlets. The 325,000-square-foot project will be situated at the intersection of I-65 and I-840 in the southern suburb of Thompson’s Station. “This project represents a significant investment in our town and has the potential to enhance local amenities, create jobs and strengthen our economy,” says Thompson’s Station Mayor Brian Stover. Simon is collaborating with Nashville-based Adventurous Journeys Capital Partners (AJ Capital), a company known for its work in hospitality and real estate development. Construction is expected to begin in 2026, but a timeline for completion was not provided. Preliminary plans call for 75 retailers, restaurants and a hotel, with the potential to add residential options and big box retailers. “We are excited to bring another premier shopping and lifestyle destination to Nashville, one of our country’s most dynamic and fastest growing markets,” says Gary Duncan, Simon’s president of Premium Outlets and The Mills brands. Nashville Premium Outlets will join Simon’s existing properties in the metro area, including Opry Mills and The Mall …
NASHVILLE, TENN. — Mill Creek Residential is underway on the construction of Modera Nations, a 396-unit apartment community situated along the Cumberland River in Nashville’s The Nations neighborhood. The podium-style community will over views of the river and the downtown Nashville skyline and will eventually include a trailhead to the city’s Greenways expansion on the north end of the property. Located at 1650 54th Ave. N, Modera Nations will offer studio, one-, two- and three-bedroom apartments, as well as a bowling alley. Other amenities will include a resort-style swimming pool, spa with two saunas and a cold plunge tub, coworking lounge, fitness center, courtyards, community garden, dog park, rooftop deck, EV charging stations, bike lockers and a cold storage delivery station. Mill Creek plans to deliver the community by the end of the year.