Tennessee

Rise Partners Purchases Vacant Kmart Property Near Nashville

by Alex Tostado March 5, 2019

CLARKSVILLE, TENN. — Rise Partners has purchased a vacant 95,000-square-foot retail property in Clarksville that formerly housed Kmart. The investment firm said construction will begin immediately on Clarksville Commons so that five national retailers can move in by late fall. Gary Shanks of The Shopping Center Group is handling leasing of the center. The names of the retailers have not yet been announced. The asset, which also has a vacant fuel center, is situated at 2300 Madison St., about 43 miles northwest of downtown Nashville. The fuel center will be replaced with restaurant and retail space. The seller and sales price were not disclosed.

March 5, 2019

Acquisitions Office Southeast Tennessee

FD Stonewater Purchases 89,000 SF Office Building in Nashville

by Alex Tostado March 5, 2019

NASHVILLE, TENN. — FD Stonewater has purchased Aramark Global Business’ operations property, an 89,000-square-foot office building fully leased to Aramark. The asset is situated at 5880 Nolensville Pike, about 12 miles south of downtown Nashville. Aramark, a global food services, facilities management and uniform services provider, has occupied the space since 2013. This is FD Stonewater’s fourth acquisition in Nashville in seven years. The seller and sales price were not disclosed, but The Tennessean reported that New York-based Gramercy Property Trust purchased the asset in 2014 for $16.5 million.

March 5, 2019

Development Mixed-Use Southeast Tennessee

Joint Venture Announces Mixed-Use Project Adjacent to FedEx Logistics’ Planned Global Headquarters in Downtown Memphis

by John Nelson February 27, 2019

MEMPHIS, TENN. — A joint venture between Somera Road Inc. and Orgel Family LP has announced plans for The Clipper, a mixed-use development located at 0 Ponotoc Ave., adjacent to FedEx Logistics’ planned global headquarters. The Clipper will feature a 250,000-square-foot, eight-story office building, 50,000 square feet of ground-level retail space and a 250-room hotel that will be built in partnership with Nashville-based Senate Hospitality. The hotel will feature a rooftop deck and conference center. Cushman & Wakefield/Commercial Advisors will manage commercial leasing services of The Clipper.

February 27, 2019

Acquisitions Industrial Southeast Tennessee

Sealy & Co. Acquires 124,800 SF Industrial Facility Near Memphis

by John Nelson February 27, 2019

COLLIERVILLE, TENN. — Sealy & Co. has acquired a 124,800-square-foot distribution center in Collierville. The asset, located at 500 Distribution Parkway, is situated on seven acres about 30 miles east of downtown Memphis. The property features a rear-load configuration and 22 dock doors. Jason Gandy and Scott Sealy Jr. of Dallas-based Sealy worked with Hank Martin of NAI Saig Co. in arranging the sale. The sales price and seller were not disclosed.

February 27, 2019

Acquisitions Multifamily Southeast Tennessee

The Beach Company Opens 402-Unit Apartment Community in Nashville

by Alex Tostado February 21, 2019

NASHVILLE, TENN. — The Beach Company has opened Bells Bluff, a 402-unit apartment community in West Nashville. Located on the banks of the Cumberland River, the property features a riverfront amenities package that includes a resident clubroom, fitness center, saltwater pool and a dog spa. Bells Bluff also includes a mile-long hiking trail with fitness stations as well as a game lawn with green space. The community offers 11 different floor plans, which feature granite countertops, custom shelving, in-unit washer and dryer, stainless-steel appliances and scenic forest or river views.

February 21, 2019

Leasing Activity Retail Southeast Tennessee

PEBB Enterprises Announces New Retail Tenants at Mixed-Use Center in Metro Memphis

by Alex Tostado February 19, 2019

GERMANTOWN, TENN. — PEBB Enterprises has signed Ulta Beauty and Verizon Wireless to leases at Germantown Village Square, a retail and office complex, in Memphis. With the additions, the shopping center is now 97 percent leased, with one 4,000-square-foot space vacant. The upstairs office space is 90 percent leased, with 2,700-square-foot and 3,800-square-foot spaces available for lease. The center is located about 21 miles east of downtown Memphis.

February 19, 2019

Development Industrial Leasing Activity Southeast Tennessee

FedEx Logistics to Consolidate, Move Global Headquarters to Downtown Memphis

by Alex Tostado February 15, 2019

MEMPHIS, TENN. — FedEx Logistics, a subsidiary of FedEx Corp., will move its global headquarters to the site of the former Gibson Guitar factory building, a 145,000-square-foot facility located at 145 George W. Lee Ave. near Beale Street in downtown Memphis. FedEx Logistics plans to consolidate multiple locations and more than 700 employees to the site over the next several years. The company will occupy the space beginning in April 2020. FedEx Logistics plans to add a mezzanine level that will bring the total square footage to nearly 200,000. LRK will be the architect for the expansion project.

February 15, 2019

Development Retail Southeast Tennessee

Tanger Outlets Announces Plans for New Mall in Downtown Nashville

by Alex Tostado February 15, 2019

NASHVILLE, TENN. — Tanger Outlets has announced plans to open a new outlet mall in downtown Nashville. This will be Tanger’s second location in Tennessee and 43rd in the United States. The site will comprise 300 acres off Interstate 24. At full build-out, it will offer 280,000 square feet of leasable space. The company said it will not break ground until the property is at least 60 percent leased.

February 15, 2019

Development Hospitality Southeast Tennessee

CBL Properties, Vision Hospitality Group to Develop 135-Room Hotel in Chattanooga, Replacing Former Sears

by Alex Tostado February 11, 2019

CHATTANOOGA, TENN. — CBL Properties and Vision Hospitality Group plan to develop a 135-room hotel in Chattanooga as part of the redevelopment of Hamilton Place mall. The new Aloft by Marriott will be situated between The Cheesecake Factory and the future Dave & Buster’s where a former Sears used to be at Hamilton Place. Amenities will include an urban-inspired design with loft-like guestrooms featuring nine-foot ceilings and keyless entry using your smartphone or Apple Watch. The hotel will be situated about 12 miles east of downtown Chattanooga. Construction on Hamilton Place is set to begin in the spring.

February 11, 2019

Acquisitions Retail Southeast Tennessee

Branch, Crosland Southeast Sell One Bellevue Place in Nashville to MetLife for $93M

by Alex Tostado January 28, 2019

NASHVILLE, TENN. — Branch Properties LLC and Crosland Southeast have sold One Bellevue Place, a 355,240-square-foot power retail village in Nashville’s Bellevue neighborhood. MetLife acquired the asset for $93 million. Located at 7620 Highway 70 South, the shopping center is part of a redevelopment of the former Bellevue Center mall that now includes retail, entertainment venues, hotel rooms, office space, residential units and the training facility for the NHL’s Nashville Predators. The retail asset is anchored by Carmike Cinemas, Burlington Coat Factory, Sprouts Farmers Market, HomeGoods, Michaels, Ross Dress for Less, PetSmart, Off Broadway Shoes, Ulta Beauty and Kirkland’s. In December, Southeast Real Estate Business reported that Novel Bellevue Place, the 337-unit residential community within One Bellevue Place, was sold. CBRE represented the sellers in the transaction.

January 28, 2019

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