Wednesday, February 24, 2016 08:00 AM

NEW BAR/RESTAURANT EYES MIDTOWN RETAIL BUILDING

A California investor has paid $1.83 million for a retail building in Midtown, which a new bar/restaurant prospect has a letter of intent to lease.

Wehrly Holdings LLC of Redondo Beach bought the 0.11-acre site with a 4,900-square-foot building at 1921 Broadway from Chris and Carter Dawson.

"We are working on a prospective tenant for the location — proposed type of use would be restaurant/bar," said Shane Bowen, a local broker with Avison Young handling leasing for the property.

Most recently, a local franchisee of South Carolina-based restaurant group Urban Cookhouse was expected to be the tenant for the building, which previously was home to Lucy Pop Salon. But that plan didn't work out amid issues including with parking.

Jon Petty, a broker with Southeast Venture who represented the Dawsons, said plans he's seen for a remodeling of the building include an interior bar and space where patrons can walk out to a second-story terrace.

News source: http://www.tennessean.com/story/money/real-estate/2016/02/23/new-barrestaurant-eyes-midtown-retail-building/80807346/

See also: Trauger