Southeast Venture Purchases Property at Eighth and Division

We’re planning for a long-term investment in the growing East Gulch community

8th and DivisionWe closed yesterday on a 20,000-square-foot building at 714 8th Ave. S., which sits at the northeast corner of the Eighth Ave. and Division St. intersection. Located in a growing area recently coined “Gulch East,” the one-story building sits on 1.26 acres and has 63 parking spaces. The property was purchased for $4.25 million.

We see a lot of potential in this area of Nashville. The Music City Center has already kick-started hotel, restaurant and retail development. This will only intensify next year, when the city plans to extend Division Street over the CSX railroad tracks, which will connect two rapidly developing parts of town: the Gulch East area and lower SoBro.

As the city’s proposal for this project notes, this new connection will provide opportunities for infill development and connections between Music Row, Vanderbilt, Belmont, Midtown and the Gulch with the Lafayette neighborhood, Fulton Campus, Howard Office Building and Rolling Mill Hill. We’re excited to be a part of this growing neighborhood and expect to have a long-term partnership with the area.

The property’s current tenants will remain in the space. They include:

Tarek El Gammal represented Southeast Venture in the contracted sale. The seller, AWC Partners, worked directly with Southeast Venture without a broker.

There are a lot of opportunities for commercial and residential growth in this area as businesses and people continue to seek opportunities close to Nashville’s city center. This section of town is still developing its identity and neighborhood feel—we look forward to being a part of that transformation.

Nashville Rescue Mission beautification project complete

Mission celebrates 60th anniversary

On May 22, the Nashville Rescue Mission celebrated its 60th anniversary and showed off its new landscaping and parking lot.

As we detailed in March, the Nashville Rescue Mission underwent a beautification project that included the addition of a rain garden, raised planters, more than 50 new trees, an outdoor recreational area, increased parking and a redesigned, improved entrance into the parking lot, as well as into the building.

Here are some pictures from the event.

Crowd assembled for Nashville Rescue Mission 60th anniversary celebration

Crowd assembled for Nashville Rescue Mission 60th anniversary celebration

 

Erica Gilmore, District 19 Council Member; Glenn Cranfield, President and CEO, Nashville Rescue Mission; Max Knauss, Division 2 Constuctors; Axson West, Principal, Southeast Venture; Joe Hodgson, Partner, Hodgson & Douglas Landscape Architects; Shelley Lowe, Senior Project Designer, Barge Cauthen & Associates; Bo Adams, Senior Project Manager, H.G. Hill Realty Company; Chris Host, Assistant Project Manager, H.G. Hill Realty Company

Erica Gilmore, District 19 Council Member; Glenn Cranfield, President and CEO, Nashville Rescue Mission; Max Knauss, Division 2 Constuctors; Axson West, Principal, Southeast Venture; Joe Hodgson, Partner, Hodgson & Douglas Landscape Architects; Shelley Lowe, Senior Project Designer, Barge Cauthen & Associates; Bo Adams, Senior Project Manager, H.G. Hill Realty Company; Chris Host, Assistant Project Manager, H.G. Hill Realty Company

Glenn Cranfield, President and CEO, Nashville Rescue Mission; Erica Gilmore, District 19 Council Member

Glenn Cranfield, President and CEO, Nashville Rescue Mission; Erica Gilmore, District 19 Council Member

Ribbon for ribbon cutting

Ribbon for ribbon cutting

James Neil; Joe Hodgson, Partner, Hodgson & Douglas Landscape Architects; Richard Speer, Nashville Rescue Mission Board of Directors; Shelley Lowe, Senior Project Designer, Barge Cauthen & Associates; Max Knauss, Division 2 Constuctors; Bo Adams, Senior Project Manager, H.G. Hill Realty Company; Axson West, Principal, Southeast Venture; Chris Host, Assistant Project Manager, H.G. Hill Realty Company

James Neil; Joe Hodgson, Partner, Hodgson & Douglas Landscape Architects; Richard Speer, Nashville Rescue Mission Board of Directors; Shelley Lowe, Senior Project Designer, Barge Cauthen & Associates; Max Knauss, Division 2 Constuctors; Bo Adams, Senior Project Manager, H.G. Hill Realty Company; Axson West, Principal, Southeast Venture; Chris Host, Assistant Project Manager, H.G. Hill Realty Company

Axson West, Principal, Southeast Venture; Richard Speer, Nashville Rescue Mission Board of Directors

Axson West, Principal, Southeast Venture; Richard Speer, Nashville Rescue Mission Board of Directors

 

Nashville Rescue Mission with new landscaping and trees

Nashville Rescue Mission with new landscaping and trees

 

Nashville Rescue Mission with new landscaping and trees

Nashville Rescue Mission with new landscaping and trees

Nashville Rescue Mission

Nashville Rescue Mission

Joe Hodgson, Partner, Hodgson & Douglas Landscape Architects; Max Knauss, Division 2 Constuctors; Axson West, Principal, Southeast Venture; Greg Dew, Division 2 Constuctors; Bo Adams, Senior Project Manager, H.G. Hill Realty Company; Chris Host, Assistant Project Manager, H.G. Hill Realty Company

Joe Hodgson, Partner, Hodgson & Douglas Landscape Architects; Max Knauss, Division 2 Constuctors; Axson West, Principal, Southeast Venture; Greg Dew, Division 2 Constuctors; Bo Adams, Senior Project Manager, H.G. Hill Realty Company; Chris Host, Assistant Project Manager, H.G. Hill Realty Company

grilling

Nashville Rescue Mission employees and volunteers grilling hamburgers and hot dogs at the Mission’s 60th anniversary celebration.

Raised planters

Raised planters ready to be filled with seasonal foliage!

Glenn Cranfield

Glenn Cranfield, President and CEO, Nashville Rescue Mission

Many thanks to all the partners involved in the project.

 

Southeast Venture transforms an empty shell into a light-filled office for the Bradford Group

the Bradford Group lobby

the Bradford Group lobby

When the Bradford Group needed a new home for its growing public relations agency, the firm turned to Southeast Venture Principal Randy Parham and Broker James Roscoe High to find the perfect space. Randy and Roscoe found the perfect space—an office condo on the second floor of the iconic glass and red-steel Fifth & Main Building in East Nashville—then brokered the purchase for Bradford, using their experience to negotiate an attractive price and favorable terms.

the Bradford Group Conference Room

the Bradford Group Conference Room

The Bradford Group then worked with Ginny Caldwell and Shannon Mikula of Southeast Venture’s interior design team to turn the new space, which was an empty shell, into the light-filled office the Bradford Group’s smart and creative team need.

the Bradford Group Kitchen

the Bradford Group Kitchen

There is only one office in the Bradford Group’s office that is not exposed to natural light. Because interior walls are broken up with lots of glass, even interior offices get plenty of sunlight. The highlight of the space is the break room and kitchen, where floor-to-ceiling windows provide a panoramic view of downtown Nashville.

the Bradford Group

the Bradford Group – view from the kitchen

Additionally, the agency’s primary brand color—Pantone Yellow 123—can be found throughout the office: in the carpet, on the walls, surrounding the reception area and kitchens, in chair fabrics, etc. Southeast Venture worked with the Bradford Group to ensure that the corporate color is prominent in the space, though not overwhelmingly so.

Services Provided

Brokerage

Interior Design

Project Scale

5,500 SF

Project Timeframe

2013-2014

Sonic Automotive Group to Add BMW Dealership in Brentwood’s Mallory Park

The growing popularity of Brentwood’s Mallory Park business park hit a new high recently with the news that Sonic Automotive Group is under contract to purchase land in the development.

According to officials for commercial real estate services firm Southeast Venture, Sonic Automotive Group has claimed 13.22 acres—which accounts for all remaining Highway 65 frontage in Phase II of Mallory Park—and plans to build a new BMW dealership on the land. This will be in addition to Sonic Automotive Group’s current BMW dealership located at 4040 Armory Oaks Drive in Nashville.

In August 2012, Sonic Automotive Group broke ground on a new 9,178-square-foot Porsche dealership and 32,010-square-foot Audi dealership at 1576 and 1580 Mallory Lane. The new Porsche of Nashville and Audi Nashville are located where Phase I of Mallory Park connects to Phase II.

The area shaded dark pink represents Phase II

The area shaded dark pink represents Phase II

Sonic Automotive Group’s most recent purchase marks the first purchase within Mallory Park’s Phase II. Infrastructure work for Phase II of began in September 2012, opening up about 35 additional acres for commercial development.

Mallory Park is historically dubbed the ‘Flagpole Property’ for a row of flagpoles that formerly festooned the property along its border with I-65.

“Sonic’s Automotive Group’s continued investment in this project represents the strength of the company’s commitment to this area. By having all of its dealerships in one location, the logistics of helping a potential buyer find his or her perfect car becomes much simpler,” said Wood Caldwell, principal for Southeast Venture, which is representing the landowner, Dickson-based Tennsco.

Tennessee Baptist Convention Plans Move into LifePoint Hospitals’ Seven Springs Headquarters

The Tennessee Baptist Convention has signed a sublease from LifePoint Hospitals for 20,600 square feet of unused space in its new 203,000-square-foot headquarters at 330 Seven Springs Way in Brentwood.

The Class A, seven-story office building, which Highwoods Properties built to LifePoint’s specifications at its Seven Springs development, will serve as the Tennessee Baptist Convention’s home for the next three years. When this lease is up the Tennessee Baptist Convention plans to build and move into a permanent space that has yet to be announced.

Lifepoint-hq

“LifePoint’s headquarters is a beautiful new office building, with high ceilings, plenty of structured parking and lots of natural light. It will be a great space for Tennessee Baptist Convention to call home while it plans its next steps,” said Axson West, principal for Southeast Venture. West and Southeast Venture Broker Coleman Boyd represented the Tennessee Baptist Convention in the sublease. Barry Smith, co-founder and president of Eakin Partners, represented LifePoint.

In November 2013, H.G. Hill Realty Company purchased Tennessee Baptist Convention’s previous 5.25-acre, 88,000-square-foot property at 5001 Maryland Way, at the corner of Franklin Road and Maryland Way in Brentwood. West and Boyd represented the Tennessee Baptist Convention in the sale.

The Tennessee Baptist Convention is expected to move into its new space within the next 30 days.

Walton Tennessee, LLC Purchases Traditional Neighborhood Development, Carothers Crossing

CC_1Carothers Crossing, a traditional neighborhood development in Nolensville was purchased yesterday by Walton Tennessee, LLC, an affiliate of Walton Development and Management (WDM), a land management and development company based in Roswell, Georgia.

Walton Tennessee, LLC purchased three separate tracts of land from Capital Bank, Cadence Bank and Pinnacle Bank, and has a fourth parcel under contract. Combined, the four parcels comprise 545 acres of land located just east of the town of Nolensville and west of the Interstate 24 Old Hickory Boulevard exit.

CC_7Southeast Venture brokers Greg Coleman and Ashley Bishop represented the buyer in the sales.

“Carothers Crossing is in a fast growing area of southeast Nashville,” said Coleman. “Walton is very pleased with its new investment and is looking forward to being good stewards of its future development.”

Developer Don Smithson originally conceived Carothers Crossing in the early 2000s. The traditional neighborhood development plan included 3,400 homes in a variety of residential options, a town center with retail and commercial spaces, parks and other open green spaces for the community’s residents.

CC_6Capital, Cadence and Pinnacle banks took ownership of the development in 2010 when Smithson was unable to continue the early momentum of the project through the economic downtown.

“Carothers Crossing’s vision has often been compared to Southern Land Company’s 2,600-unit Westhaven traditional neighborhood development in Franklin,” said Bishop. “It’s not designed to function as a subdivision—it’s designed to function as a unique, regional neighborhood. With Walton’s investment, the area can become the vibrant community it was meant to be.”

CC_3“We’re excited about our first acquisition in Nashville,” said Paul Beidel, WDM president, Southeast region. “Carothers Crossing has tremendous potential and we look forward to working with the local community to build on the vision for this mixed-use residential community.”

CC_2

TITLE Boxing Club Opens First Two Middle Tennessee Outlets

TITLE-Boxing-2Boxing and kickboxing fitness center, TITLE Boxing Club, has entered the Nashville market.

Nashville’s first TITLE Boxing Club at 1906 Church Street opened in February 2014. Its second location at 1550 West McEwen Drive in Cool Springs is set to open within the next 90 days.

TITLE-Boxing-3“Our new gym is located in the same complex as Bricktop’s and Whole Foods. We’re excited to bring TITLE’s explosive total body boxing and kickboxing workout to this convenient, high-profile space,” said Sheeva Rouhani-fard, owner of the new Cool Spring’s club. “We offer a free class for anyone who wants to come try it. Come in and get your first shot free.” Rouhani-fard co-owns the Cool Springs club with Diane Finley and James Fuertes.

Southeast Venture Brokers James Roscoe High and Jon Petty secured the two leases for the franchise and say Middle Tennesseans can look forward to more centers in the coming months. “We are currently scouting locations in Green Hills, Brentwood, Hendersonville, Mt. Juliet and Murfreesboro,” High said.

TBC International, LLC opened the first TITLE Boxing Club fitness center in 2008 in Overland Park, Kan. The company opened its 100th club in May 2013.

“Our clubs offer total body boxing and kickboxing fitness group classes. Our signature “Power Hour” workout burns up to 1,000 calories per hour,” said Tyler Thompson, owner of the current Church Street location.

The typical TITLE Boxing Club size ranges between 3,500 and 6,000 square feet.

TITLE-Boxing-1