A mixed-use development is being eyed for 2214 12th Ave. S., according to filings made with the Metro Planning Department. The current property owner is Tabernacle Missionary Baptist Church, but it’s unclear who the developer is. Office, restaurant and retail components are all included in project plans. HDLA, based in Nashville, appears to be involved in design.
Bell Construction has named two new owners: Rebecca Ozols, former vice president of growth and strategy, and Sam Hand, senior project manager. Ozols joined the firm in 2018 to lead business development, creating new relationships with local, regional and national industry players, a statement said. Hand joined Bell more than six years ago and has overseen the completion of several large-scale projects, including the McEwen Northside office, the Rowen Glenn Center for special needs ministry at Brentwood Baptist Church and more. “Both Sam and Rebecca personify Bell’s core values and have remained committed to our success. They have each demonstrated leadership acumen beyond their current roles. We’re confident their leadership will help successfully lead Bell into the future,” said Keith Pyle, the company’s president.
- Tampa, Florida-based developer and operator American Landmark, along with investment manager BentallGreenOak, closed Aug. 26 on the Parc at Murfreesboro apartments. The 359-unit property was completed this year, and the transaction was off-market, according to a statement. American Landmark plans to make capital improvements to the site, including landscape upgrades, a clubhouse and pool deck furniture, according to a statement. The complex is located at 3237 Memorial Drive and features one-, two- and three-bedroom floor plans, as well as amenities.
- Last quarter’s commercial real estate transactions totaled more than $1.2 billion — the highest sales volume since the start of the pandemic, according to data compiled by Stephen Prather at Charles Hawkins Co. The sum also marked the area’s second-best quarter on record, preceded only by 2019’s fourth-quarter transaction sum of around $1.3 billion. Still, this year’s second-quarter sum is worlds healthier than last year’s same-period total of just under $200 million.
- Nashville’s apartment occupancy rate is 93.9%, according to a recent report from Market Line and ApartmentData.com. The hottest submarket over the last three months has been Germantown/Metrocenter, which has an annualized growth rate of 51%, the report says. Downtown/Gulch/SoBro is next on the list with a 50.3% annualized growth rate. Greater Nashville has also seen a 14.3% rental rate increase in the last year. Nearly 8,000 units are currently under construction, and the report puts total inventory around 141,168 units.
Publication: Nashville Business Journal