36-Acre Property in The Nations Closes for $6 Million
We’re excited to announce that the purchase of 36 acres in The Nations neighborhood closed yesterday for $6 million. The property is composed of four parcels of land near the intersection of 51st and Centennial Boulevard, with street frontage at 5400 Centennial Boulevard.
The 9.84-acre street view parcel fronting Centennial Boulevard is in the rezoning process, transitioning from industrial to mixed-use. The other three parcels are currently zoned industrial-restrictive. All four parcels are currently vacant and development plans are underway.
Southeast Venture’s Lee White brokered the deal and represented the buyer, R Manuel – Centennial. Don Kent and Clinton Gilbreath of CBRE represented the seller, Brucewood Partners.
“The Nations is a neighborhood on the rise in Nashville. With the many recent and upcoming commercial developments in the area, this part of town will continue to attract new residents as a desirable area to live,” said White. “This is an exciting investment for our client and we look forward to watching the neighborhood evolve.”
The site contains a bluff that overlooks the Cumberland River, yielding an approximate 1,200-foot riverfront view. The property is also home to a landmark that is familiar to neighborhood residents and visible from Nashville’s downtown area and I-440 – a 200-foot-tall grain silo that the new owners plan to incorporate into their development plans.