IN THE NEWS

October 18, 2019

The developer that has set the stage for a major mixed-use project in Madison has decided to sell the property instead.

Nashville Post reports that the 32-acre Madison Town Center shopping center will soon be listed for sale at an asking price of $30 million. Metro has approved up to 3.75 million square feet of potential development on the property, including about 1,000 residential units.

Nashville Business Journal - Carol Smith

Top of the List: Nashville's Biggest Development Projects

October 14, 2019

What are the largest development projects in Nashville?

We ranked Nashville's development projects by total estimated cost. To view the top 10 and see which one tops the list, check out the slideshow with this story.For the rest of Nashville's top development projects, take a look at this week's print edition of the Nashville Business Journal. The full list is available in print and includes information about the location....

Amazon Eyes Another Nashville-Area Distribution Facility

September 04, 2019

A planned 3.6-million-square-foot warehouse in Mt. Juliet has been connected to internet giant Amazon.com. Officially known on “Project Sam,” the facility would be located on Golden Bear Gateway and Athlete’s Way North in Wilson County, The Tennessean reports. Panattoni Development Co. is pursuing the project. To give an idea of how many people could work at such a facility, The Tennessean notes that plans indicate 1,800 parking spots.

A distribution hub, code-named "Project Sam," could be landing in Mt. Juliet.

The potential project would represent a big economic development deal for the city and Wilson County. According to plans, 1,800 parking spaces would surround a nearly 100-foot-tall building containing 3.52 million square feet of warehouse space and another 80,000 square feet of office space. The distribution space alone is equivalent to about 61 football fields — more than double the size of the largest industrial building on the Nashville Business Journal's annual List of such properties.

The Lebanon City Council approved a pair of rezoning resolutions related to a potentially major mixed-use development near I-40 and Leeville Pike.The council unanimously approved the rezoning requests, made by Brookside Properties Inc., on first reading. The request is to rezone approximately 130 acres between Tuckers Gap Road and I-40, from South Hartmann Drive to the I-840 exit from medium-density residential to commercial service.

Commercial Property Executive - Lucia Morosanu

TN Industrial Distribution Facility Trades for $24M

March 22, 2019

A partnership between A partnership between Fortress Investment Group and Sansone Group has acquired Couchville Pike Business Center I, a 709,651-square-foot industrial distribution facility in Mt. Juliet, Tenn., for $23.6 million, according to Wilson County records. The seller was an entity connected to Wells Fargo. The new owners have already signed a 237,000-square-foot, five-year lease with Superior 3rd Party Logistics Inc.Fortress Investment Group and Sansone Group has acquired Couchville Pike Business Center I, a 709,651-square-foot industrial distribution facility in Mt. Juliet, Tenn., for $23.6 million, according to Wilson County records. The seller was an entity connected to Wells Fargo. The new owners have already signed a 237,000-square-foot, five-year lease with Superior 3rd Party Logistics Inc.

An Atlanta real estate developer has struck a deal to buy a sprawling former meat-packing plant on the banks of the Cumberland River, in an urban neighborhood already teeming with development.

Jim Irwin and his New City LLC real estate business are under contract to buy the Neuhoff Packing Co. slaughterhouse complex on Adams Street in Germantown, according to multiple sources with knowledge of the deal. The pending purchase could involve 14 acres of land or more, creating the chance to revitalize a property that has long been eyed for its development potential.

AllianceBernstein, a New York-based global investment management firm moving its headquarters to Nashville, is planning a private wealth group in Nashville and is considering adding a local investment team, according to CEO Seth Bernstein.The firm announced in May that it expects to bring 1,050 jobs to Nashville in a $70 million investment. City and state officials celebrated the new headquarters as a boon to the region's financial sector. 

A global life insurance company has paid almost $93 million to buy the core of the mixed-use development that has revitalized the site formerly home to the shuttered Bellevue Center mall. MetLife Inc. now owns the retail piece of the One Bellevue Place development, which is the heart of the 87-acre development off of Interstate 40, about 14 miles southwest of downtown Nashville. That part of the project totals nearly 360,000 square feet, with tenants including an AMC movie theater,  a Sprouts Farmers Market,  restaurants such as DeSano Pizzeria and Bar Louie, and also chains such as Michael's, PetSmart and Kirkland's.

January 25, 2019

The name of the entity used to buy the land, and the price paid, suggest a connection with a deal reported to be in the works for the nearby former Neuhoff meat-packing plant on the Cumberland River. 

Celebrity chef Maneet Chauhan's company has sold land in Germantown to a buyer whose name suggests an even larger deal is in the works. An affiliate of Chauhan's Morph Hospitality Group no longer owns the 1.75-acre property at 93 Taylor St. The buyer, Neuhoff Acquisition LLC, lists its address in public records as the headquarters of JP Morgan Chase & Co. The buyer paid $8 million for the land — more than double the $3.7 million Morph Hospitality Group spent just 16 months ago. Germantown remains a hotbed of development, particularly apartments and restaurants.

A Georgia-based developer has released the first image of the apartment project it plans inside the MetroCenter development.Southeastern plans to begin construction on the 300-unit project in the second quarter, according to a news release. The company paid $10 million for the 11-acre site at 341 Great Circle Road in December. “We’ve chosen this site because of its incredible views of the Cumberland River,” Southeastern principal Chris Senn said in the news release. “Most of this project’s units will have great views of the river, coupled with easy access to all of the exciting opportunities Nashville has to offer.”

January 22, 2019

More retail and restaurants are headed to a development in a town whose population has nearly doubled since 2010, indicative of the growth sweeping through Greater Nashville. Brentwood-based PGM Properties LLC has paid $4.6 million for about 18 acres of land in Nolensville, straddling the line between Davidson and Williamson counties. The developer plans to expand its Burkitt Commons project, which already includes 36,500 square feet of commercial space, including Hoss' Loaded Burgers and Tito's Mexican Grill. The project also includes 200 condos and townhomes built by Nashville's Regent Homes.

Volunteer State Community College has reached a verbal agreement with a land owner who is donating property in Wilson County for a new campus.The State Building Commission has approved the purchase of additional land that adjoins the donated property and will be needed for the facility, Vol State officials said. The school expects to enter a fundraising campaign for the initial payment on the adjoining property that will be purchased. The finished facility is expected to have multiple classrooms and other educational facilities that will allow Vol State to offer a variety of classes, school spokesman Eric Melcher said.

December 19, 2018

A real estate developer from Ohio is rolling out plans for a roughly $150 million mixed-use development in Cool Springs, the commercial hub of one of the nation's most affluent counties.Goldberg Cos. Inc., based in Cleveland, is under contract to buy 23 acres of land along Carothers Parkway, in Williamson County. Plans call for 426 apartments in six-story buildings, a 148,000-square-foot office building and a high-end hotel with 170 rooms. "We're in some high-end suburbs in Raleigh and Charlotte. Nothing in my experience compares to Williamson County. It’s just amazing," the developer says.

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