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Davidson East: East Nashville, Inglewood, Madison, Donelson, Hermitage, Old Hickory


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801-803 Gallatin Ave. (2 stories, 10,000 sq. ft.) has sold for $1.6 million to the same unidentified group that purchased the BoomBozz Pizza building near Five Points last week. The Gallatin Ave. site was previously purchased in 1990 for $210,000.  No word on what the new owners' plans are.

More behind the NashvillePost paywall here:

https://www.nashvillepost.com/business/development/commercial-real-estate/article/21143782/pizza-site-buyer-deals-again-on-east-side
 

Screen Shot 2020-10-07 at 8.13.58 AM.png

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Just read a news posting that included information that the Nashville Airport Marriott would be rebranded as a Sonesta Hotel. The change is due to a dispute between the investment firm that owns this property (and many more hotels nationwide) and Marriott, which had contracts to operate these properties. I’m unable to link the article from my phone-sorry.

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6 hours ago, donNdonelson2 said:

Just read a news posting that included information that the Nashville Airport Marriott would be rebranded as a Sonesta Hotel. The change is due to a dispute between the investment firm that owns this property (and many more hotels nationwide) and Marriott, which had contracts to operate these properties. I’m unable to link the article from my phone-sorry.

So in other words, they didn't operate to Marriott standards and lost their flag.  

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5 hours ago, nashscan said:

So in other words, they didn't operate to Marriott standards and lost their flag.  

Back on my computer where I can copy/paste. SVC is the owner of the Nashville Airport Marriott. Here's a quote from the article:

"A couple of weeks ago, SVC sent a letter to Marriott requesting Marriott pay $11 million within 10 days, or else it would terminate its management contract with Marriott:

  • The $11 million is supposed to cover the shortfall between the payments SVC has received to date from Marriott, and 80% of the priority returns due to SVC for the eight months ending August 2020
  • These properties require annual minimum returns of $194.6 million, but both the security deposit that SVC previously held to secure minimum return payments, and the $30 million guarantee provided by Marriott, have been fully utilized
  • While the contract between SVC and Marriott was supposed to expire in 2035, SVC could terminate its agreement if it doesn’t get the payment

In other words, Marriott has guaranteed a minimum return to hotel owners, but those guarantees haven’t been met due to the pandemic, and that gives SVC an easy out."

https://onemileatatime.com/marriott-loses-122-hotels-contract-dispute/

 

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SHELL PERMIT FOR 13,000 SQ. FT. RETAIL CENTER, EMERY COMMONS, FUTURE TENANTS TO OBTAIN FURTHER PERMITS. NO OCCUPANCY THIS PERMIT. POC TONY DARSINOS 615-397-8335 SIDEWALKS ARE REQUIRED FOR THIS PROJECT BECAUSE THIS PARCEL FRONTS ON A STREET IN THE MAJOR AND COLLECTOR STREET PLAN. YOU ARE NOT ELIGIBLE TO CONTRIBUTE TO THE PEDESTRIAN BENEFIT ZONE IN-LIEU OF CONSTRUCTION BECAUSE THE PARCEL IS ON A STREET IN THE MAJOR AND COLLECTOR STREET PLAN.---------------- WATER AND SEWER CONNECTION
Contractor CROWDER CONSTRUCTION GROUP
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Aloft Hotel (5 stories, 125 rooms) update: two bridges being built across the creek along McGavock Pike into the site. Retaining walls being built. More digging out of the hillside.

Looking west from intersection of McGavock Pike and Lakeland Dr:

Aloft Hotel, McGavock Pike, Oct 4, 2020, 1.jpeg


Looking west from McGavock Pike, 1/2 block south of Lakeland Dr:

Aloft Hotel, McGavock Pike, Oct 4, 2020, 2.jpeg

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ZMX Inc. has purchased 9 acres at 620 W. Due West Ave. near I-65 for $3.9 million.  They are planning a multi-family development for the site, hoping to break ground by mid-2021.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21143914/madison-site-eyed-for-project-sells-for-39m

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