Southeast Venture and Main St. Properties Submitted East Nashville Plans to MDHA

We’re excited to share that we submitted final plans for a 1.9-acre apartment project in East Nashville to the MDHA last week with Main St. Properties. The mixed-use development will be located at 416 Woodland Street, at the corner of S. 5th Street and Woodland.

Eastside Heights ImageThe project, which will be named EastSide Heights, will consist of 249 rental apartments with 8,000 square feet of ground floor retail space. The building will be designed with an urban aesthetic and feature five floors of residential apartments and ground floor retail, all served by a centrally located parking garage.

“East Nashville has a long history with some of the oldest residential neighborhoods in the city. More recently, it has played a significant part in our city’s growing culinary culture. With retailers like Edley’s Bar-B-Que, The Family Wash and the Turnip Truck, to name a few, walkability and livability are only getting better in this neighborhood,” said Tarek El Gammal, a principal at Southeast Venture. “

“Our business has been located in the East Nashville neighborhood for more than 90 years, so we have been able to watch the neighborhood evolve firsthand,” said Stan Hardaway, president at the Hardaway Group. “With more residents and retailers moving to East Nashville, as well as the neighborhood’s close proximity to downtown, this area is desirable for residents to live.”

Southeast Venture and Main St. Properties are partnering to lead the development, with Hardaway Construction handling construction and Southeast Venture leading design. The project is expected to break ground this fall.

36-Acre Property in The Nations Closes for $6 Million

We’re excited to announce that the purchase of 36 acres in The Nations neighborhood closed yesterday for $6 million. The property is composed of four parcels of land near the intersection of 51st and Centennial Boulevard, with street frontage at 5400 Centennial Boulevard.

The 9.84-acre street view parcel fronting Centennial Boulevard is in the rezoning process, transitioning from industrial to mixed-use. The other three parcels are currently zoned industrial-restrictive. All four parcels are currently vacant and development plans are underway.

Southeast Venture’s Lee White brokered the deal and represented the buyer, R Manuel – Centennial. Don Kent and Clinton Gilbreath of CBRE represented the seller, Brucewood Partners.

“The Nations is a neighborhood on the rise in Nashville. With the many recent and upcoming commercial developments in the area, this part of town will continue to attract new residents as a desirable area to live,” said White. “This is an exciting investment for our client and we look forward to watching the neighborhood evolve.”

The site contains a bluff that overlooks the Cumberland River, yielding an approximate 1,200-foot riverfront view. The property is also home to a landmark that is familiar to neighborhood residents and visible from Nashville’s downtown area and I-440 – a 200-foot-tall grain silo that the new owners plan to incorporate into their development plans.

Southeast Venture Brokered The Carroll Companies’ Property Acquisition In Murfreesboro

We’re pleased to share that The Carroll Companies announced that it has acquired a 21.9-acre property for $4.4 million adjacent to The Avenues mixed-use district in Murfreesboro and plans to develop a 336-unit luxury garden apartment complex on the site.

The apartment complex, which will be named Everwood at The Avenue, will consist of 14 three-story buildings. Developers expect that a key benefit of the new complex will be its close proximity to The Avenues, a high-end, mixed-use environment with retail shops, hotels, apartments and office space.

Everwood at The Avenue 1Southeast Venture brokers Ashley Bishop, CCIM, and John Cavin brokered the deal and represented the buyer.

“We’re excited for The Carroll Companies and their Murfreesboro debut, Everwood at The Avenue – which we expect to do quite well, as there is pent-up demand for high-end apartments in this submarket. For example, Lifestyle’s Communities has had great success leasing their 403 luxury apartment units at the Villages at Henley Station complex, which is across Medical Center Pkwy from Everwood. The Medical Center Pkwy interchange, specifically The Avenues lifestyle center, provides all the amenities residents desire. And the explosive growth Murfreesboro is experiencing will only add to the demand for additional renters looking for the same high quality of life with close proximity to thousands of jobs. We expect Everwood to lease quickly,” Bishop said.

In addition to luxury units, Everwood at The Avenue will offer residents a state-of-the-art clubhouse, providing occupants with a cyber café-kitchen, theater room, billiards room, fitness area and business center. The property will also feature a resort-style pool with an outdoor kitchen, fireplace and chaise-pool.

Hickory Hollow is Nashville’s next big comeback

In case you haven’t heard, Hickory Hollow could be Nashville’s next big transformation. In Southeast Venture principal Wood Caldwell’s recent Tennessean column, he explored the different ways the area is already changing and what it has in store for the future – from new charter schools and the addition of the Ford Ice Center to new community parks.

As stated in his column, “because of efforts by the mayor’s office, you’ll see that the Hickory Hollow area is picking up momentum. It has welcomed a satellite campus for Nashville State Community College, the new Southeast Community Center, the Southeast Branch of the Nashville Public Library, and the Nashville Predators’ Ford Ice Center.”

It’s very exciting to think about how our city and the neighborhoods and areas within it will continue to flourish and evolve – we can’t wait to see what happens next.

For the full article, please click here.

Southeast Venture Purchases Overlook Office Building in Brentwood

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We are excited to share that our firm closed on a $10.5 million purchase of the Overlook Office Building at 214 Overlook Circle in Brentwood.

With 68,174 rentable square feet, the two-story, multi-tenant office building is fully occupied with a diverse mix of small and mid-size companies in a variety of industries – including health care and technology. It is the first office building acquired by our firm to manage as an income-producing property.

“Brentwood has always been a strong submarket and, today, available space is so limited. Because it has easy access to the developments that are transforming the east side of Brentwood into a true urban environment – such as, the additions to the H.G. Hill Center Brentwood, CityPark and Seven Springs – this building is well-positioned to become an increasingly desirable location for business tenants, ” said Tarek El Gammal, principal here at Southeast Venture. “We believe it will continue to perform very well as a prime location for small to mid-size, growing companies.”

Constructed in 1988, the building sits on a promontory overlooking Brentwood’s main commercial corridor and Maryland Farms and includes a covered parking garage – an unusual amenity in Brentwood – as well as a fitness center with a shared conference room.

“The prior owner made valuable upgrades to the building, including a new roof and renovated common areas, so the space is in great shape. We intend to make additional improvements to the property to enhance the building’s amenities,” said El Gammal. “While our development work will continue to be a significant focus, we are continuing to look for similar opportunities to generate attractive yields by acquiring stabilized assets. We have some of the best knowledge in the market to identify opportunities like this, and we have the infrastructure – in terms of our property management and leasing– to assure that promising properties are put to their highest and best use.”

Brokers Steve Preston and Douglas Johnson of CBRE and Don Albright of Cushman & Wakefield represented Chicago-based seller TRP Investments in the sale of the building to Overlook Office Partners, which includes Southeast Venture principals and investors.

Welcome to the team, Beau, Samantha, Iain and Jenna

Have you heard? We’ve added four new member to our design services team. Beau Brady, Samantha O’Leary and Iain Shriver join as graduate architects, and Jenna Spahn joins our interior design team.

Beau BradyBeau Brady Heashot joins us as a recent graduate from Auburn University. He previously interned for the architecture firm Lathan Associates, where he perfo rmed site analysis, schematic designs and construction documents. At Auburn, Brady earned a bachelor’s degree in architecture and completed international studies in Rome, Italy. His work on the “Green for Life Project” at Auburn received the Alabama Chapter of American Society of Landscape Architecture Best Community Design Award. Brady is currently working on Grace @ Elliston, a mixed-use project in Midtown.

Samantha Oleary HeadshotSamantha O’Leary joins us from Sims Architectural Studio, Inc. in Birmingham, Alabama, where she worked as an architectural intern while completing dual bachelor’s degrees in architecture and interior architecture from Auburn University. While at Auburn, she received the Rural Studio Third-Year Student Award and also completed Auburn’s Urban Studio where she developed master plans for downtown revitalization and growth. She is currently working on H.G. Hill’s multi-family project at their Hill Center in Green Hills.

A recentIain Shriver Headshot graduate from Auburn University, Iain Shriver received a double major in architecture and interior architecture. At Auburn, he completed Rural Studio, received the FIRST Lego Robotics Universal Design Award and was a finalist in the Alabama Wood Competition. Shriver spent two summers interning for Fuqua and Partners Architects in Huntsville, Alabama, working as part of a team on schematic and design development, research, and construction drawings.  His current responsibilities include Revit modeling for a 240-unit multi-family project in East Nashville.

As part of ourJenna Spahn Headshot design team, Jenna Spahn collaborates on design development and the production of construction documents. In addition, she has expertise in interior renderings and presentations. Before joining us, Spahn worked with Lathan Associates Architects, P.C. in Birmingham, Alabama. She also previously worked at Business Interiors, Inc. and NELSON Southeast Operating Company, LLC in Birmingham and Atlanta, respectively. She is a member of the International Interior Design Association and the Middle Tennessee chapter of the U.S. Green Building Council. Spahn graduated with a bachelor’s degree in interior design from Auburn University.

Southeast Venture closes land acquisition for Brentwood office building project

Mallory Park Rendering

We’ve recently announced that our firm closed on the acquisition of the land for the first phase of a two-phase office project near Cool Springs Galleria in Brentwood.

To be constructed on a 12.5-acre lot on Mallory Lane in the Mallory Park office park, the first phase of the project will consist of two 40,000-square-foot office buildings surrounding a courtyard. The 70,000-square-foot second phase of the project will be built at a later date.

We’re excited to share that we  will break ground on or before April 1 on Phase One and finish construction within approximately eight months.

“This new development fills a critical need in the Cool Springs area for a high ratio of parking spaces to square feet of office space. This larger parking capacity is important to tenants that employ a large number of people per square foot, such as call centers and other back office operations,” said Cam Sorenson, principal here at Southeast Venture.

Our firm has also designed the building, which will be similar in style to a two-office complex that the firm developed in Nashville’s MetroCenter business park for HealthSpring.

Stay tuned for more updates coming soon!