Real estate briefs: The Cadence in Midtown; B&G Foods in Wilson Co.; more
Dallas-based Phoenix Property Co. has completed buying 1.24 acres off 16th Avenue South and McGavock Street in Midtown for $6.19 million with plans for a 193-unit multifamily building to be called The Cadence.
The real estate company bought the property that includes 109 16th Ave. S. from John S. Milam Optical Co.
Construction should start soon on the project, which is expected to include ground-floor leasing and live-work units along 16th and 17th avenues, along with two levels of above-grade structured parking. RC Mathews Contractor is the general contractor.
Preston Hart, Phoenix’s development manager, expects some units at The Cadence to be ready for tenants to move in during the first quarter of 2016. The apartment building’s address will be 1600 McGavock St.
B&G leases in Wilson
B&G Foods leased 445,942 square feet of space at a warehouse in Wilson County where it plans to relocate a distribution center from Interchange City in La Vergne.
The lease by B&G, which makes, sells and distributes food under brands such as Cream of Wheat, Mrs. Dash and Ortega, brings Duke Realty’s 653,360-square-foot Park 840 Logistics Center Building 653 in Lebanon to full occupancy.
The Nutro Co., a natural pet food manufacturer, is the tenant that occupies remaining space at that building.
Patrick Brakefield and Michael Augustine with Charles Hawkins Co represented B&G Foods in the transaction. Lonnie Russell represented Duke Realty.
Sixten buys Merritt land
An affiliate of Nashville-based Core Development has paid $2.4 million for nearly five acres at an industrial corner of the Wedgewood-Houston Neighborhood where it plans a mixed-used redevelopment project.
Sixten Land Group LLC bought the property at 610 Merritt Ave., which was formerly home to A.B. Collier Wrecker Service, from Arden and Mark Bowman. With the closing, Core Development owns 7.3 acres overall in the area, which includes the building home to Kirby Welding Co. that Corsair Distillery has under contract.
Sixten, whose president is Mark Deutschmann, recently raised $1.15 million in equity, according to a regulatory filing.
Summerlyn advances
Homebuilder The Jones. Co. has completed buying for $5.5 million the first 51 acres for a new subdivision in Nolensville called Summerlyn.
Overall, Jones Co. and Drees Homes plan to build homes on 249 lots at the community near where the new Nolensville High, Mill Creek Middle and Mill Creek Elementary schools are planned. Jones Co. has a contract on the remaining 100 acres on which the subdivision will be built.
Homes at Summerlyn are expected to range between 1,800 square feet to 4,000 square feet in size with prices starting around $290,000. Development work is expected to start soon with home construction to begin later this year.
Rezoning requested
Nashville real estate investor Norma Crow is seeking to rezone .23 acres at 1307 2nd Ave. N. from industrial use to allow for a mix of residential and commercial use.
The building is currently occupied by Nashville Tattoo & Hair Removal, which Crow recently sold. With a change in zoning approved, Crow said she plans to have residential living and retail space on the property.
— Getahn Ward