Category Archives: Brokerage Services

Hotel Developer Purchases 9.12-Acre Property Near Nashville International Airport

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This press release was originally released on Jan. 13, 2017. 

Hotel Developer Purchases 9.12-Acre Property Near Nashville International Airport

NASHVILLE, Tenn., Jan. 13, 2017 — North Dakota-based hotel developer Dakota Legacy Group has purchased 9.12-acres at 16 Century City Blvd – near the Nashville International Airport – for $1.995 million. The property is one of the last remaining parcels of raw land in the Century City complex.

The buyer, Dakota Legacy Group, was self-represented in the deal. Southeast Venture Brokers James Roscoe High, CCIM and J.C. Darby represented the seller, 16 Century City Blvd., an entity of Nashville-based boutique real estate company Anchor Investments.

“We are excited to close out another successful project for our investors and look forward to seeing Dakota bring their project to life,“ said Micah Lacher, president of Anchor Investments. “We appreciate all that Roscoe and JC have done to help us complete another great project for our team.”

Dakota Legacy Group plans to develop a hotel on the property.

“Nashville International Airport recently reported record-breaking numbers in terms of passenger traffic for the fourth year in a row, and they welcomed several new airlines, routes and services,” said High. “That said, there’s high demand in this area for more affordable hotels, and we are pleased to partner with Dakota Legacy Group to provide that.”

High and Darby represented Anchor Investments in 2015 in the purchase of the property from Duke Realty for $1.25 million. The company had interest from several hotel developers prior to selling the property to Dakota Legacy Group.

About Anchor Investments

Anchor Investments is a private, Nashville-based real estate investment company that was formed to acquire, own, develop and manage income-producing commercial properties in the Southeast. Anchor is an active operator and investor that targets value-added commercial properties. The partners’ philosophy is to use their years of combined asset management, development and leasing expertise to maximize the performance of each investment.

About Southeast Venture

Founded in 1981, Southeast Venture is a diversified commercial real estate and design services company guided by a mission of “Building Value by Valuing Relationships.” The firm provides and coordinates the delivery of brokerage, development, architectural and interior design and property management. This unique, comprehensive approach to commercial real estate offers a cost effective and efficient way of meeting its clients’ commercial real estate needs. For more information, visit SoutheastVenture.com, or find Southeast Venture on Twitter @SEVentureCRE.

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Photo credit: Derrick Brutel

Southeast Venture brokers sale of MetroCenter property

Southeast Venture represented a partnership, an entity in which Southeast Venture is the Manager, that recently sold a 7.5-acre property in the MetroCenter business park to real estate entrepreneur, Rusty Dunn, for $2.58 million.

According to Dunn, the undeveloped land located at 100 Cumberland Bend could be a fit for either a car dealership or apartment complex, especially with its close proximity to MetroCenter Levee Greenway and Ted Rhodes Golf Course.

Over the past eight years, Dunn has purchased approximately 32 acres of land in the office park. For more information about the sale, visit The Tennessean for full coverage, “Real estate investor buys MetroCenter land for $2.58M”.

The Catholic Diocese of Nashville Completes Two Rivers Purchase for $12.35 Million

Photo of ChurchThe Catholic Diocese of Nashville closed earlier this month on The Fellowship at Two Rivers property at 2800 and 2812 McGavock Pike for $12.35 million. Located at the corner of Briley Parkway and McGavock Pike, more than 1,550 feet of the property fronts Briley Parkway.

Set on a 37.64-acre campus, the property includes a 225,000-square-foot worship center and administrative offices. The building also includes a 3,300-seat auditorium, 70 classrooms, gymnasium, library and commercial kitchen.

Todd Alexander and Jimmy Pickel of Southeast Venture represented The Fellowship at Two Rivers in the sale. The Catholic Diocese of Nashville worked directly with Southeast Venture without a broker.

It is our understanding that The Catholic Diocese plans to use the facility in a similar fashion as The Fellowship did, which of course is the highest and best use for the property. It’s a fabulous facility that’s on a very large campus and still located within the city. When looking for a buyer, we had parties interested in turning the space into retail or interested in the vacant land, but, in the end, the best use ended up being the current use.

Exterior Photo

For a short time, The Fellowship at Two Rivers will remain in the building as a tenant while they secure new places of worship in Donelson, Mt. Juliet and other parts of Middle Tennessee.

Southeast Venture brokers sale of Music Square property

Music-Square-1In July 2014, Southeast Venture Principal Todd Alexander and Broker Jimmy Pickel represented the Bradley family and Chet Atkins trust in the sale of the building and property at 30 Music Square West, Nashville.

The 20,886-square-foot, three-story office building was built in 1969 and sits on 0.81 acres of land. Brentwood-based developer Bravo Development Group, LLC purchased the property for $4.075 million. Matt Kwasek of Kwasek Commercial Real Estate represented the buyer.

The site is zoned for both office and residential use.

Services Provided

  • Brokerage

Project Scale

  • 20,886 SF / 0.81 AC

Project Timeframe

  • 2014

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Walton Closes On 252 Acres in Fairview, Tennessee

“Trails of Brownlyn,” a planned unit development (PUD) in Fairview, Tennessee was purchased yesterday for $4.4 million 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 the 252-acre tract from John Rutledge. Ted Boozer of Franklin Real Estate Group, Inc. represented Rutledge, and Southeast Venture brokers Greg Coleman and Ashley Bishop represented the buyer in the sale.

The “Trails of Brownlyn” PUD is approved for 725 residential units. 

Trails-of-Brownlyn-site-plan“Trails of Brownlyn has a lot to offer in terms of access to Nashville and the surrounding areas. This property is situated within Williamson County, which has some of the best public schools in Tennessee, and it is perfectly located to cater towards growing families,” said Paul Beidel, WDM president, Southeast region.

“Fairview has long been an area of interest for land investment given its location in Williamson County, proximity to Nashville and overall quality of life,” said Greg. “With the investment in recent years by some national retailers such as Publix and Wal-Mart, it makes sense that a quality PUD be offered to current and future homeowners in Fairview.” 

Earlier this spring, WDM made its first acquisition in the Nashville area, purchasing four parcels that make up “Carothers Crossing,” a traditional neighborhood development in Nolensville. Combined, the four parcels comprise 545 acres of land located just east of Nolensville and west of the Interstate 24 Old Hickory Boulevard exit.

Trails-of-Brownlyn-vicinity-map

“We are excited Walton is investing again in Middle Tennessee and in Fairview. We have received a lot of interest from home builders about this project,” said Ashley. “This property has a lot of potential because of its picturesque surroundings, short commute to Nashville and its proximity to top-rated Williamson County schools.”

Cigna-HealthSpring Closes on MetroCenter Corners I Office Deal

cigna-healthspring-logoWe’re pleased to report that Cigna-HealthSpring has signed a 10-year lease for the Corners I office building at 601 Mainstream Drive in MetroCenter, north of downtown Nashville.

With the new lease, Cigna-HealthSpring further adds to its Tennessee business operations in MetroCenter. The health care company currently operates out of an office campus at 500 and 530 Great Circle Road. The two buildings, which total 175,000 square feet and house 1,200 employees, was developed by Southeast Venture and sold to Los Angeles-based Griffin Capital last year.

By continuing to expand its presence in MetroCenter, Cigna-HealthSpring is further cementing its commitment to MetroCenter. Jimmy Pickel and Southeast Venture Principals Randy Parham and Todd Alexander represented the Corners I building owner, Levitt Properties, in the lease. Harrison Johnson of CB Richard Ellis represented Cigna-HealthSpring.

Corners I is a one-story, open plan office building that covers 51,574 square feet and sits on 7.5 acres of land. Cigna-HealthSpring plans to have close to 300 parking spaces.

601-mainstream-driveIn its 30-year history, MetroCenter’s Corners I office building has been leased six times, and has never been vacant more than eight months. It’s a testament to the strength of the MetroCenter submarket, with its attractive proximity to downtown Nashville. We’re excited to continue to help this area grow and flourish.

Less than 30 acres of undeveloped land remain in MetroCenter, which is less than 10 percent of the business park’s total usable land of approximately 650 acres.

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.

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

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.”

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