{"id":1004267342,"date":"2018-09-26T07:47:58","date_gmt":"2018-09-26T15:47:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004267342"},"modified":"2022-12-07T20:05:47","modified_gmt":"2022-12-08T04:05:47","slug":"jv-announces-adaptive-reuse-development-in-nashville","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/","title":{"rendered":"JV Announces Adaptive Reuse Development in Nashville"},"content":{"rendered":"<p>By Holly Dutton<\/p>\n<div id=\"attachment_1004267357\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004267357\" data-attachment-id=\"1004267357\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/sylvan-supply-rendering-ground\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg\" data-orig-size=\"1280,904\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1537306140&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=\"Sylvan Supply Rendering Ground\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Rendering of Sylvan Supply&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg?w=1024\" loading=\"lazy\" class=\"wp-image-1004267357 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg\" alt=\"\" width=\"300\" height=\"212\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg 1280w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg?resize=300,212 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg?resize=768,542 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg?resize=1024,723 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004267357\" class=\"wp-caption-text\">Rendering of Sylvan Supply<\/p><\/div>\n<p>Investment firm FCP and developer Third &amp; Urban have acquired a former industrial site in Nashville, where they are planning an adaptive reuse development with office space, restaurants and retail.<\/p>\n<p>The joint venture purchased the former Madison Mill at 4101 Charlotte Ave. for $12.5 million from a longtime local owner and will redevelop the site into Sylvan Supply\u2014a development with six separate buildings connected through open corridors and terraces that can serve as outdoor work spaces for tenants.<\/p>\n<p>Sylvan Supply, named for its location in the Sylvan Park neighborhood and its history as a wood facility, will have 133,000 square feet of Class A creative office space that will feature open floor plans, large windows and outdoor space. The development will also include 27,000 square feet of dining and shopping.<\/p>\n<p>Bo Tyler, Bill Adair and Ashley Albright of JLL are heading up office leasing at the project, and Elliott Kyle with Equitable Property Co. is handling the retail leasing.<\/p>\n<p>The industrial redevelopment project will preserve the existing building on the site and repurpose it to attract companies seeking close proximity to Nashville\u2019s central business district. Sylvan Supply is centrally located and offers easy access to the neighborhoods of Belle Meade, Green Hills, The Nations, Westside, Midtown and downtown. Construction is expected to begin in October, with a target completion date of fourth quarter 2019.<\/p>\n<p><em>\u201cWe\u2019ve witnessed a kind of a gap in the market,\u201d<\/em> FCP Senior Vice President Erik Weinberg told <em>Multi-Housing News<\/em> about creative office space in Nashville<em>.<\/em> <em>\u201cThere are a few examples of smaller size adaptive reuse and creative office around Nashville, but this project will be one of the first larger scale\u2014roughly 100,000 square feet\u2014in Nashville. We think there\u2019s a good depth to that strategy.\u201d<\/em><\/p>\n<p>In 2016, FCP and Westbridge Partners developed <a href=\"https:\/\/www.commercialsearch.com\/news\/stockyards-atlanta-breaks-ground-adds-to-tenant-roster\/\">a similar property called Stockyards Atlanta<\/a>, a 135,000-square-foot adaptive reuse project in Atlanta.<\/p>\n<h2><strong>Fresh start<br \/>\n<\/strong><\/h2>\n<p>Sylvan Supply will be the first project from the newly formed Third &amp; Urban, which merged with Westbridge Partners earlier this year.<\/p>\n<p>In 2015, Stonehenge announced plans <a href=\"https:\/\/www.multihousingnews.com\/post\/stonehenge-plans-major-project-in-sylvan-park-3\/\">to purchase the former Madison Mill<\/a> and build up to 550 apartment units on the site. However, when the proposal came before the Metro Planning Commission, local residents pushed back against the project and Stonehenge eventually scrapped its plans in 2016.<\/p>\n<p><em>Image courtesy of FCP<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Partners FCP and Third &amp; Urban have acquired a former industrial site for $13 million, with plans to transform the property into creative office space and retail.<\/p>\n","protected":false},"author":745,"featured_media":1004267357,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21752,36077,21742],"tags":[39241,42182,32796,42188,42185],"class_list":["post-1004267342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-mixed-use","category-nashville-knoxville","category-latest","tag-erik-weinberg","tag-fcp","tag-jll","tag-sylvan-supply","tag-third-urban"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JV Announces Adaptive Reuse Development in Nashville - 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\/jv-announces-adaptive-reuse-development-in-nashville\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JV Announces Adaptive Reuse Development in Nashville\" \/>\n<meta property=\"og:description\" content=\"Partners FCP and Third &amp; Urban have acquired a former industrial site for $13 million, with plans to transform the property into creative office space and retail.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/\" \/>\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=\"2018-09-26T15:47:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T04:05:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"904\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Holly Dutton\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/\",\"name\":\"JV Announces Adaptive Reuse Development in Nashville - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg\",\"datePublished\":\"2018-09-26T15:47:58+00:00\",\"dateModified\":\"2022-12-08T04:05:47+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/Sylvan-Supply-Rendering-Ground.jpeg\",\"width\":1280,\"height\":904,\"caption\":\"Rendering of Sylvan Supply\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/jv-announces-adaptive-reuse-development-in-nashville\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JV Announces Adaptive Reuse Development in Nashville\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/9259ffaba4775229ae3556b9555e566d\",\"name\":\"Holly Dutton\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Holly-D-Dutton-e1622041566670.png?w=75\",\"caption\":\"Holly Dutton\"},\"description\":\"Holly Dutton is a Senior Editor with Commercial Property Executive and Multi-Housing News. 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