LBX Drops $54M for Music City Duo

September 23, 2026

Investment Mixed Use Nashville - Knoxville News More Retail Southeast

The portfolio includes two properties in Western Nashville.

Exterior image of Stateline, a mixed-use property in Nashville, Tenn. — Stateline, a roughly 95,000-square-foot building with office and retail spaces, was one of the traded assets. *Image courtesy of JLL*

LBX Investments has paid $54.3 million for a 134,113-square-foot retail and mixed-use portfolio in Nashville, Tenn. JLL represented the seller, Vintage South Development.

The properties include Breeze Block, a 39,452-square-foot retail center at 6100-6110 Robertson Ave., and Stateline, a mixed-use asset totaling 94,661 square feet at 5300 Centennial Blvd.

They are 2 miles of each other, between the Charlotte Park and Nations neighborhoods, in an area close to the retail corridor along Charlotte Avenue, the commuter route connecting western suburbs to Nashville’s central business district. Interstates 40 and 65 are also nearby. The city’s downtown is 8 miles away, while its international airport is 14 miles east.

Breeze Block is a two-building shopping center comprising retail, restaurant, wellness and creative office spaces. Originally built in 1970 as an industrial facility, the property was converted to retail use and expanded to its current size in 2023, according to Yardi Matrix information.

Stateline is also the result of an adaptive reuse project that transformed an old warehouse into a two-level structure with 70,000 square feet of office space and first-floor retail. The building is leased by a mix of fitness, medical, wellness and service-oriented tenants.

JLL Senior Managing Directors Richard Reid and Jim Hamilton, together with Managing Director Brad Buchanan, negotiated on behalf of the seller.

Nashville among the key national retail hubs

Nashville’s retail sector ended the first half of 2026 with balanced fundamentals, according to a report by Avison Young. The metro’s consistent population growth since the pandemic, backed by a strong employment environment, is among the key factors behind the market’s stable metrics.

The Music City’s retail vacancy rate stood at 4 percent in June, up 0.7 percent from 2024’s last quarter but overall stable since the third quarter of 2025. Meanwhile, rents have been constantly growing since 2018, supported by healthy levels of leasing and absorption, reaching $31.83 per square foot.

Investment activity was also in line with the metro’s solid metrics. In the largest deal by dollar amount, InvenTrust Properties paid $88 million for Nashville West Shopping Center, a 309,347-square-foot asset in the Sylvan Park neighborhood.

Meanwhile, Nashville also witnessed its largest retail disposition by square footage in the past five years, which closed in February and involved what once was known as the largest shopping center in Tennessee. Developer Merus bought RiverGate Mall for $33 million and started a $450 million redevelopment process. Upon its completion, the property will be a walkable destination with mixed-use design, featuring 120,000 square feet of commercial space, 710 residential units, a 120-key hotel and 20,000 square feet of office space.