Tennessee

The Streets of Indian Lake Hendersonville

U.S. Properties Group Acquires Lifestyle Shopping Center in Metro Nashville

by John Nelson March 14, 2016

HENDERSONVILLE, TENN. — U.S. Properties Group (USPG) has acquired The Streets of Indian Lake, a 249,121 square-foot lifestyle shopping center in Hendersonville, roughly 18 miles northeast of Nashville. The retail center is located at Indian Lake and Vietnam Veterans boulevards. The center’s tenant roster includes Regal Cinema, Victoria’s Secret, LOFT, Rack Room Shoes, Yankee Candle, New York & Co., Sunglass Hut, Gymboree, Glowgolf, Charming Charlie, Bath & Body Works, Barnes & Noble and Buffalo Wild Wings. Chris Decoufle of CBRE’s Atlanta office brokered the transaction. USPG has acquired and improved value-add shopping center assets since 2002. The company owns approximately 4 million square feet and redevelops shopping centers in 11 states covering the Midwest and Southeast, including Alabama, Georgia, Illinois, Michigan, North Carolina, North Dakota, Ohio, Pennsylvania, South Carolina, Tennessee and Virginia.

March 14, 2016

Vanderbilt University Dialysis Nashville

Healthcare Southeast Tennessee

Stan Johnson Co. Brokers $3M Sale of Vanderbilt Dialysis Clinic in Nashville

by John Nelson March 11, 2016

NASHVILLE, TENN. — Stan Johnson Co. has brokered the $3 million sale of a 10,500-square-foot dialysis clinic located at 20 Rachel Drive in Nashville. The property is fully leased to Vanderbilt University and is one of its two 24-hour dialysis operations in the metro Nashville area. A private partnership based in New England purchased the facility from a limited liability partnership based in California. Craig Tomlinson and John Zimmerman of Stan Johnson Co. marketed the asset and represented the seller in the transaction.

March 11, 2016

Hospitality Southeast Tennessee

Windsor Aughtry Brokers $6.3M Sale of Hampton Inn Johnson City

by John Nelson March 3, 2016

JOHNSON CITY, TENN. — Windsor Aughtry Co. Inc. has brokered the $6.3 million sale of Hampton Inn Johnson City, a 77-room hotel located at 508 N. State of Franklin Road in Johnson City. Pleasantburg Hospitality Inc. sold the hotel, which it has owned since the hotel was built in 1995. Jay Alexander and Bill Fayssoux of Windsor Aughtry represented Pleasantburg Hospitality in the transaction.

March 3, 2016

Pinebrook Pointe Apartment Homes Memphis

Loans Multifamily Southeast Tennessee

KeyBank Provides Two Loans Totaling $20M for Apartment Complexes in Metro Memphis

by John Nelson February 25, 2016

MEMPHIS, TENN. — KeyBank Real Estate Capital has provided two loans totaling $20 million for the acquisition of two affordable housing apartment communities in metro Memphis. The financing included a $4.1 million loan for Pinebrook Pointe Apartment Homes in Memphis and a $15.9 million loan for Angelo’s Grove Apartments in Marion, Ark., a suburb of Memphis. These communities are two of the five properties that the borrower, Peak Capital Partners LLC, is planning to buy in the Memphis area. Irena Edwards and Alex Buecking of KeyBank’s community development lending division arranged the financing.

February 25, 2016

Retail Southeast Tennessee

BC Wood Properties Sells Shopping Center in Tennessee for $9M

by John Nelson February 25, 2016

GALLATIN, TENN. — BC Wood Properties has sold Gallatin Center, a 138,238-square-foot shopping center located in Gallatin, for $9 million. The center’s tenant roster includes Burke’s Outlet, Ollie’s, Tractor Supply, Hibbett Sports and Goodwill. BC Wood increased the property’s occupancy from 80 percent to 99 percent during the life of its ownership of the center. The Lexington, Ky.-based shopping center owner and manager sold Gallatin Center through BC Wood Properties Fund I, an investment vehicle that BC Wood launched in 2013.

February 25, 2016

Multifamily Southeast Tennessee

Southeastern Development Associates Brokers $49.6M Sale of Apartment Complex in Metro Nashville

by John Nelson February 16, 2016

SMYRNA, TENN. — Southeastern Development Associates has brokered the $49.6 million sale of Grand Oak at Town Park, a 300-unit, Class A multifamily development located in Nashville’s Smyrna suburb. Completed in 2014, the property was 98 percent occupied at the time of sale. Community amenities include a clubhouse, cyber café, 24/7 cardio wellness center, saltwater pool, outdoor fireplace and a poolside entertainment area with stainless steel grills. An undisclosed international investor purchased the property from an undisclosed seller. Ryan McArdle, Steve Collins and David Rivers of Southeastern Development Associates represented the seller.

February 16, 2016

Restaurant Southeast Tennessee

Moonshine Flats to Open 38,000 SF ‘Honky Tonk’ Venue in Nashville

by John Nelson February 11, 2016

NASHVILLE, TENN. — San Diego-based Moonshine Flats has entered the final stages of lease negotiations for a new 38,000-square-foot “honky tonk” music venue and bar in downtown Nashville. The venue will be a country rock-themed establishment with four levels of bars, live music and DJs, barbecue, amusement rides, an open-air rooftop and floor-to-ceiling LED screens. Owner Ty Hauter expects to open the new Moonshine Flats in 2016.

February 11, 2016

Multifamily Southeast Tennessee

Spirit Bascom Ventures, Oaktree Buy Multifamily Portfolio in Nashville MSA

by John Nelson February 9, 2016

NASHVILLE AND HERMITAGE, TENN. — Spirit Bascom Ventures, an affiliate of Irvine, Calif.-based The Bascom Group, and funds managed by Oaktree Capital Management LP have closed on the purchase of two apartment communities in Nashville totaling 838 units. The portfolio includes the 560-unit Bellevue West at 100 Ridgelake Parkway and the 278-unit Highlands at the Lake at 100 Arbor Lake Blvd. in Hermitage, a suburb of Nashville. Vincent Lefler of JLL represented the seller in the transaction. Brian Eisendrath and Annie Rice of CBRE Capital Markets arranged acquisition financing through San Francisco-based ACORE Capital.

February 9, 2016

Pure Foods Gateway Commerce Park Kingsport

Industrial Southeast Tennessee

Pure Foods Opens $22M Headquarters, Manufacturing Plant in Tennessee

by John Nelson February 2, 2016

KINGSPORT, TENN. — Pure Foods, a specialty snack company, has opened its global headquarters and a manufacturing plant at Gateway Commerce Park in Kingsport. The $22 million project will house 50 to 75 employees, with room to grow to 275 employees over the next five years. The 88,000-square-foot manufacturing facility will be where Pure Foods produces its healthy snacks, which are sourced from non-GMO fruits and vegetables. The opening ceremony of the headquarters and manufacturing plant was attended by Tennessee Gov. Bill Haslam; Lt. Gov. Ron Ramsey; John Dreyzehner, commissioner of the Tennessee Department of Health; Miles Burdine, president and CEO of the Kingsport Chamber of Commerce; Kingsport Mayor John Clark; and Sullivan County Mayor Richard Venable. As part of the opening, Pure Foods has also announced its acquisition of the Guiltless Gourmet brand from Manischewitz Co.

February 2, 2016

Office Southeast Tennessee

Colliers Brokers $2.8M Sale of Historic Office Building in Downtown Nashville

by John Nelson January 19, 2016

NASHVILLE, TENN. — Colliers International has arranged the $2.8 million sale of a historic four-story office building located at 227 2nd Ave. North in downtown Nashville. Built in 1911, the fully renovated property is located adjacent to the upcoming 21c Museum Hotel. The buyer, Tennessee-based 227 2nd Avenue North LLC, plans to repurpose the property as apartment residences with ground-floor retail space. Vickie Saito of Colliers International’s Nashville office represented the seller, local real estate investor Scott Chambers, in the transaction.

January 19, 2016

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