The Gulch building that's home to Kayne Prime Steakhouse and office tenants including high-speed Internet service provider Google Fiber has changed hands for $16.8 million.
McGavock Holdings LLC, an investment group led by Nashville-based commercial real estate firm C.B. Ragland Co., was the buyer of the 50,000-square-foot building at 1101 McGavock St.
"We bought it as a long-term stable investment," said Brandon Kuvara, who along with colleague Michael Hayes represented McGavock Holdings LLC in the transaction. "We love the Gulch. We love everything that's going on around us."
In addition to Kayne Prime and Google Fiber, artist management company Red Light Management is a tenant of the fully leased building. Roughly two weeks ago, Google Fiber relocated its main Nashville office to the Gulch building.
McGavock Group Partners LLC, whose president is well-known Gulch developer Bill Barkley, was the seller of the office building with ground-level retail space occupied by Kayne Prime. In addition to Barkley, other partners in McGavock Group Partners include artist managers Ross Schilling and Ken Levitan along with Chris Farren, president of Combustion Music.
McGavock Group Partners paid $4.8 million for the roughly three-story building in 2004, according to Metro property records. The building, which sits on 0.78 acres, was built in 1948.
Reach Getahn Ward at 615-726-5968 and on Twitter @getahn.