{"id":1004174363,"date":"2017-04-27T00:46:13","date_gmt":"2017-04-27T08:46:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004174363"},"modified":"2022-12-06T16:03:21","modified_gmt":"2022-12-07T00:03:21","slug":"downtown-nashville-land-hits-the-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/downtown-nashville-land-hits-the-market\/","title":{"rendered":"Downtown Nashville Land Hits the Market"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004174364\" style=\"width: 430px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004174364\" data-attachment-id=\"1004174364\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/downtown-nashville-land-hits-the-market\/nashville-skyline-courtesy-of-the-city-of-nashville\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;5&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;NIKON D200&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1209572696&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;19&quot;,&quot;iso&quot;:&quot;100&quot;,&quot;shutter_speed&quot;:&quot;0.00125&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Nashville Skyline\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Nashville Skyline&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg?w=800\" class=\"wp-image-1004174364\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg\" alt=\"Nashville Skyline\" width=\"420\" height=\"315\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 420px) 100vw, 420px\" \/><\/a><p id=\"caption-attachment-1004174364\" class=\"wp-caption-text\">Nashville Skyline<\/p><\/div>\n<p>With the assistance of Compass Auctions &amp; Real Estate LLC, the State of Tennessee is auctioning two parcels totaling 2.1 acres in downtown Nashville, paving the way for a developer to capitalize on city\u2019s ongoing upswing.<\/p>\n<p>The offering consists of 450 James Robertson Parkway., an approximately 0.9-acre tract of land and the neighboring 1.2-acre parcel at 460 James Robertson Parkway. Zoned for a range of uses, the site could accommodate residential, office, retail or all the above.<\/p>\n<p><em>\u201cDowntown Nashville has become a place where families want to live and businesses want to operate,\u201d<\/em> Justin Ochs, vice president of national development with Compass Auctions &amp; Real Estate, said in a prepared statement. <em>\u201cWe\u2019ve been amazed by the amount of national interest this premier location has already generated.\u201d<\/em><\/p>\n<p>What\u2019s the attraction? The city\u2019s economy is thriving. The <a href=\"https:\/\/www.commercialsearch.com\/news\/atlanta-nashville-gain-as-workers-flock-to-the-southeast\/\">employment market remains strong<\/a>, as does income growth, which closed 2016 in the 7 percent range, according to a report by CBRE. The city\u2019s affordability, quality of life and strategic positioning has resulted in a high level of downtown development activity over the last 10 years. Given the current state of the overall market, all signs point to the James Roadway site lending itself well to practically any use. Per CBRE&#8217;s research, apartment demand in Music City is increasing across all asset classes, resulting in a vacancy rate of just 4 percent. In the office sector, the vacancy rate is at a record low, asking rates are at a record high, and there\u2019s no indication that the many new developments being planned will have a negative impact on the numbers. The retail market is faring well, too, buoyed by the strong economy, increasing personal income and a booming residential market.<\/p>\n<p>Developers can\u2019t get enough of Nashville.\u00a0<em>\u201cThe increasingly high-profile nature of the market is resulting in greater amounts of capital investing in the market,\u201d<\/em> according to the report. It\u2019s still a secondary market, but it\u2019s central business district is attracting tier-one projects, like the <a href=\"https:\/\/www.commercialsearch.com\/news\/mega-project-makes-history-in-nashville\/\">$430 million Fifth + Broadway mixed-use project<\/a> downtown, which OliverMcMillan and Spectrum | Emery recently commenced.<\/p>\n<p><em>\u201cWith the energy behind a thriving economy combined with a dynamic downtown, the long-term attractiveness of the market for investment and development is warranted,\u201d<\/em> per the CBRE report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zoned for a range of uses, the site could accommodate residential, office, retail or all of the above. The increasingly high-profile nature of the market is resulting in continuous growth of capital investments.<\/p>\n","protected":false},"author":969,"featured_media":1004174364,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,13,36077,21742],"tags":[32789],"class_list":["post-1004174363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-midwest","category-nashville-knoxville","category-latest","tag-cbre"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Downtown Nashville Land Hits the Market - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/downtown-nashville-land-hits-the-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Downtown Nashville Land Hits the Market\" \/>\n<meta property=\"og:description\" content=\"Zoned for a range of uses, the site could accommodate residential, office, retail or all of the above. The increasingly high-profile nature of the market is resulting in continuous growth of capital investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/downtown-nashville-land-hits-the-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-04-27T08:46:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T00:03:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/04\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-nashville-land-hits-the-market\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-nashville-land-hits-the-market\\\/\"},\"author\":{\"name\":\"Barbra Murray\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/d1edda962dd3af55af8a203870f9fc32\"},\"headline\":\"Downtown Nashville Land Hits the Market\",\"datePublished\":\"2017-04-27T08:46:13+00:00\",\"dateModified\":\"2022-12-07T00:03:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-nashville-land-hits-the-market\\\/\"},\"wordCount\":393,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/downtown-nashville-land-hits-the-market\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2017\\\/04\\\/Nashville-Skyline-courtesy-of-The-City-of-Nashville.jpg\",\"keywords\":[\"CBRE\"],\"articleSection\":[\"Featured\",\"Midwest\",\"Nashville - 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