{"id":1004263781,"date":"2018-09-11T03:29:02","date_gmt":"2018-09-11T11:29:02","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004263781"},"modified":"2022-12-09T00:17:23","modified_gmt":"2022-12-09T08:17:23","slug":"nashville-parking-changes-hands-for-54m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nashville-parking-changes-hands-for-54m\/","title":{"rendered":"Nashville Parking Changes Hands for $54M"},"content":{"rendered":"<p>By Jeff Hamann<\/p>\n<div id=\"attachment_1004263784\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Public-Square-Garage.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004263784\" data-attachment-id=\"1004263784\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nashville-parking-changes-hands-for-54m\/public-square-garage\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Public-Square-Garage.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Jeffrey Hamann&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1536592477&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Public Square Garage\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Public Square Garage&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Public-Square-Garage.jpg?w=800\" class=\"wp-image-1004263784 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Public-Square-Garage.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Public-Square-Garage.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Public-Square-Garage.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Public-Square-Garage.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004263784\" class=\"wp-caption-text\">Public Square Garage<\/p><\/div>\n<p>Stoltz Real Estate Partners has purchased the 1,069-stall Public Square Garage (PSG) for $54 million in Nashville, Tenn. The seller, a joint venture between RBN Equities and Jadian Capital, acquired the property in August 2015 for $26.2 million from LAZ Parking Realty Investors, according to Williamson County records.<\/p>\n<p>Located at 350 Deaderick St. in downtown Nashville, the 12-story structure rises alongside Highway 11, four blocks from the State Capitol. The asset, constructed in 1975, is two blocks from Rockbridge\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/rockbridge-opens-nashville-luxury-hotel\/\">recently restored 224-key Noelle hotel<\/a> and within half a mile of the Bridgestone Arena. The building is positioned near many of the city\u2019s major employers, and the structure itself contains 37,000 square feet of office and retail space on the first two floors.<\/p>\n<p>CBRE\u2019s Douglass Johnson and Morgan Hillenmeyer acted on behalf of the seller.&nbsp;<em>\u201cWith only 20,000 parking spaces for more than 65,000 employees and an average of 35,000 other daily visitors, the CBD suffers from a parking shortage, which makes PSG a great investment as demand for parking space continues to be high,\u201d<\/em> said Johnson, senior vice president of CBRE, in a prepared statement.<\/p>\n<p><em>Image via Google Maps<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A joint venture between RBN Equities and Jadian Capital sold the 12-story asset, which contains more than 1,000 stalls and 37,000 square feet of retail and office space.<\/p>\n","protected":false},"author":861,"featured_media":1004263784,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,13,36077,21742],"tags":[32789,41960,37838],"class_list":["post-1004263781","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midwest","category-nashville-knoxville","category-latest","tag-cbre","tag-laz-parking","tag-stoltz-real-estate-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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