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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

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Nashville CRE Week in Review: Week of Sept. 9

Nashville CRE Links

  1. Hotel developers line up to build in downtown Nashville — The Tennessean (link)
  2. Midtown’s Hotel Indigo reopens as Aloft — Nashville Business Journal (link)
  3. Peeking into the Music City Center — Nashville Post (link)
  4. Regions Center fetches $15.5 million top bid in auction — The Tennessean (link)
  5. Regions Center online sale falls through — The Tennessean (link)

Nashville CRE Week in Review: Week of May 27

Nashville CRE Links

  1. 7 Questions answered about Gaylord’s Marriott deal — Nashville Business Journal (link)
  2. HealthSpring campus marks growth for Nashville’s MetroCenter — Nashville Business Journal (link)
  3. Market Trend: Nashville’s Retail Vacancy Decreases to 7.2% — The CoStar Group (link)
  4. Marriott buying Gaylord brand — Nashville Post (link)
  5. Nashville hotels sprucing up — Tennessean (link)