Post on 20-May-2020
transcript
Charlie Gibson+1 615 301 2820 charlie.gibson@cushwake.com
OFFERING MEMORANDUM520 Hagan Street and 640 Merritt AvenueNashville, TN 37203
Wedgewood-HoustonDevelopment Opportunity
2 / 520 Hagan Street and 640 Merritt AvenueNashville, Tennessee
Executive Summary
The OpportunityCushman & Wakefield is pleased to offer the opportunity to acquire 520 Hagan Street and 640 Merritt Avenue in Nashville, TN. The two parcels total 3.15 acres of land and include two buildings totaling 17,000 square feet. Well located in the revitalizing area called Wedgewood Houston, the properties are strategic to Downtown Nashville and Interstates via the 8th Avenue Corridor.
Offering Highlights
• Nashville is a top investment market in the Southeast and U.S.
• Excellent proximity and access to multiple areas of Nashville
• Site offers flexibility as an investment
• Wedgewood Houston is an up and coming neighborhood with a focus on the creative class
• Nashville continues to lead the U.S. in job growth
520 Hagan Street & 640 Merritt AvenueNashville, Tennessee
TOTAL ACRES
TOTAL SF
ZONING
3.15 Acres
17,000 SF9,000 SF - Hagan
8,000 SF - Merritt
IR: Industrial Restrictive OV-UZO: Urban Zoning
Overlay
Crossings Plaza
/3520 Hagan Street and 640 Merritt Avenue
Nashville, Tennessee
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170
CLAYTON ROAD
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MOORES LANE
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BAKERS BRIDGE AVE
COOL SPRINGS BLVD
MCEWEN DRIVE
AVEDA Institute Nashville
of Cool Springs
WEDGEWOOD HOUSTON
12SOUTH
CBD
BELMONT/HILLSBORO
SOBRO
MUSIC ROW
ROLLING MILL HILL
THE GULCH
EDGEHILL
520 Hagan and 640 Merritt
/4520 Hagan Street and 640 Merritt Avenue
Nashville, Tennessee
Wedgewood Houston is one of Nashville’s revitalizing neighborhoods. The area is convenient to downtown, the Gulch, 12South, Belmont and Rolling Mill Hill. With close proximity to interstate 65, the downtown interstate hub as well as I-440, the location is superior to many other areas. Developments like May Hosiery Co-Op and The Finery have brought new attention to this evolving part of town. Wedgewood Houston is home to a number of artists and galleries becoming a hub for the creative class in the city. Greer Stadium, the former ballpark for the Nashville Sounds, is currently being considered for redevelopment by the city. Affordable housing and open green space have been batted about by Nashville Mayor Megan Berry as potential uses for the former facility. Other attractions include a growing food scene with new restaurants sprouting up, the Adventure Science Center, Fort Negley and Cosair Artisan Distillery.
ADVENTURESCIENCE CENTER
FORT NEGLEY
RESERVOIRPARK
FAIRGROUNDS
Neighborhood Information
Wedgewood Houston
5 / 520 Hagan Street and 640 Merritt AvenueNashville, Tennessee
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Gulch
SoBro
Wedgewood-Houston
Area Amenities
Neighborhood Highlights
• Bastion
• The Finery - www.six10merritt.com
• May Hosiery
• Fort Negley
• Adventure Science Center
• Gabby’s Burgers & Fries
• Houston Station
• Corsair Distillery
• Nashville Craft Distillery
• Vintage Millworks
• Dozen Bakery
• Greer Stadium
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Crossings Plaza
6 / 520 Hagan Street and 640 Merritt AvenueNashville, Tennessee6 / First Community Credit Union
Richmond Heights, MO
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170
S. BRENTWOOD BLVD.
/6520 Hagan Street and 640 Merritt Avenue
Nashville, TN
NASHVILLE REGIONAL MARKET Nashville is the capital of Tennessee and a vital transportation, business and tourism center for North America. The Nashville MSA,
in the state’s center, comprises 14 counties for a total population approaching two million. Nashville continues to impress business
leaders and real estate investors alike for its overall quality of life, its pro-business government and its rich offering of cultural and
entertainment options.
Nashville’s strength as a community truly rests on one solid foundation—its economic diversity. It has a high level of entrepreneurial
activity, with self-employment above the state and national average and higher than most major metros in the country. With one
of the nation’s most diverse economies, Nashville is anchored by health care management, tourism, music and entertainment, auto
manufacturing, higher education, and publishing.
Regional Highlights & Accolades
Market Overview
Accolade Source Date
Nashville Among 50 Best Places to Travel in 2017 Travel + Leisure December 28, 2016
Nashville Ranked #6 for Real Estate Investing PricewaterhouseCoopers October 26, 2016
Tennesse Ranked #4 State for Doing Business Area Development September 30, 2016
Nashville Ranked #4 for Top Spots for Tech Jobs Forbes August 24, 2016
Nashville is the National Leader in Advanced Industry Job Growth Brookings Institute August 4, 2016
Nashville Ranked #1 with Business Service Employment Growth Since 2010 Forbes.com July 27, 2016
Nashville is One of the Top 10 Cities Americans are Moving To Forbes.com June 23, 2016
Nashville Ranked #5 Top City for Startup Growth Kauffman Report June 2, 2016
Nashville Ranked #4 Best Big City for Jobs 2016 Forbes May 11, 2016
Davidson & Williamson Counties Among National Leaders for Job Growth Wall Street Journal March 9, 2016
Nashville Ranks #5 for Growth and #10 for Prosperity Brookings Institute February 2, 2016
2015 Best-Performing Cities Milken Institute December 9, 2015
Hottest U.S. Cities for 2016 Business Insider December 4, 2015
#5 City Americans are Flocking To Forbes.com October 6, 2015
#4 State for Doing Business Area Development September 17, 2015
Hot Startup City Entrepreneur August 6, 2015
Nashville Leads Metros in Economic Growth Potential Business Facilities July 30, 2015
Tennessee Leads the Nation in Auto Manufacturing, Tech Skills Training Business Facilities July 30, 2015
Nashville Ranks #28 Best Places for Business and Careers Forbes July 29, 2015
Nashville Leads the Country in Hotel Job Growth U.S. Bureau of Labor and Statistics July 23, 2015
Nashville is #4 on the List of Cities Creating the Most White Collar Jobs Forbes.com July 13, 2015
Fastest Growing Market for New Home Sales in the U.S. Economist, Sam Khater May 17, 2015
Market Snapshot:
1.8 MPOPULATION
1.0 M POPULATION (AGE 25 AND OVER)
615 KHOUSEHOLDS
$51,500MEDIAN HOUSHOLD INCOME
Crossings Plaza
7 / 520 Hagan Street and 640 Merritt AvenueNashville, Tennessee
Sale Comps
Crossings Plaza
1033 Demonbreun, Suite 600 Nashville, TN 37203+1 615 301 2800 cushmanwakefield.com
Charlie Gibson+1 615 301 2820 charlie.gibson@cushwake.com