A local investment partnership has paid $6 million for 36 acres in The Nations, marking its first purchase in that fast-growing West Nashville neighborhood.
"They're in the process of planning for future development for the property," said Lee White, a broker with Nashville real estate and design firm Southeast Venture, who represented buyer R Manuel – Centennial in the deal. "They made an investment in the property for its potential for development."
The four parcels near the intersection of 51st and Centennial Boulevard with street frontage at 5400 Centennial are part of the overall former 50-acre home of Bruce Hardwood Flooring. The 36 acres include a 9.84-acre street view parcel fronting Centennial Boulevard for which Nashville-based Craighead Development with the previous owner initiated a rezoning from industrial to mixed-use.
The other three parcels are zoned industrial-restrictive, and all four parcels are vacant.
The property contains a bluff that overlooks the Cumberland River, yielding a roughly 1,200-foot riverfront view, Southeast Venture said. It is also home to a 200-foot-tall grain silo that the new owners plan to incorporate into their development plans.
Brokers Don Kent and Clinton Gilbreath of CBRE represented Brucewood Partners in selling the 36 ...