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JPMorgan Chase & Co. is consolidating its workforce into a new space at Broadwest, a 600,000-square-foot mixed-use project in Nashville.  The Nashville Business Journal reports that the 51,000-square-foot space will include a new client center with twice the capacity of its current space, flexible workspaces, access to on-site amenities, and capacity for up to 280 employees across two floors, with room for continued growth. The new space will be open to JPMorgan Chase employees starting in early 2028.

The office will feature J.P. Morgan signage at the top of a Nashville building for the first time.

Brie Bley of CBRE represented JPMorganChase and Bill Adair and Ashley Marshall represented Propst Companies in the transaction.

Opening in 2021, the Broadwest development also includes a 34-story condo tower, the 234-room Conrad Nashville hotel and 125,000 square feet of retail and restaurant space.

The bank has 500 employees across the state, with nearly 400 employees in the Greater Nashville area.

Stand-up comic Nate Bargatze is building a theme park. The park, to be called Nateland, will span more than 100 acres and include roller coasters, live shows and more with an estimated price tag of $350 million. The park’s three sections will be based on the famed comedian’s life. While renderings of the proposed park have been released, an exact location has not. He says he wants the park within an hour’s drive of Nashville, his hometown.

Bargatze has brought in design firm Storyland Studios. The team also has identified local and state tax incentives.

Fox News tracked him down for a comment on the proposed park,”If I was going to just focus on arenas or that kind of thing, it felt like it was going be too much me… I wanted to focus on a place that I could have for people to bring their families to, and destinations to create memories with your families. I don’t think there’s a ton of that,” he said.

INDUS Realty Trust is developing INDUS Commerce Center @ 840, a 2.15 million-square-foot master-planned logistics park in the Nashville market. INDUS recently completed the acquisition of the 189-acre development site, which is located immediately off I-840 in Lebanon. 

ICC@840 is currently designed with four buildings and can accommodate tenants ranging from 250,000 to 1 million square feet. INDUS intends to build out the park on a speculative basis, while also pursuing build-to-suit opportunities. All of ICC@840 is fully pad-ready, with mass grading effectively complete.

INDUS is commencing vertical construction on the first building in the park, a 507,000-square-foot speculative cross-dock.

Will Goodman and Jack Armstrong with CBRE are the listing brokers for the development.

INDUS says it focuses on acquiring and developing mid-sized properties, typically ranging from 100,000 to 600,000 square feet, designed for single or multi-tenant use.

Highwoods Properties sold Bridgestone Tower, a 513,000 square foot office tower in Nashville, for $255 million. This property is 100% leased and is projected to generate approximately $17 million of annual cash in 2026. Eastdil Secured advised the seller on this transaction.

Drawbridge Realty was the buyer of the 30-story, Class AA office tower. The property was developed as a build-to-suit for Bridgestone Americas and delivered in 2017. The property is fully leased to Bridgestone, the tire and rubber company.

Bridgestone Tower is positioned in Nashville’s central business district, within walking distance of Broadway, Bridgestone Arena, the Music City Center, and the Country Music Hall of Fame.

With the addition of Bridgestone Tower, Drawbridge has acquired more than $740 million in assets in the last 12 months, totaling over 1.1 million square feet.

Crescent Communities started work on NOVEL Richland Creek, a multifamily and mixed-use community in West Nashville. Crescent Communities’ other area projects include NOVEL Edgehill, NOVEL Harpeth Heights, NOVEL West Nashville, NOVEL Music Row, NOVEL Bellevue Place, NOVEL Lockwood Glen, and Crescent Cool Springs.

NOVEL Richland Creek is being developed in partnership with Stockbridge Capital Group, with financing provided by J.P. Morgan. Project partners include KTGY (architect).

Located within Lion’s Head Village near the intersection of White Bridge Pike and Harding Pike, NOVEL Richland Creek will deliver 277 apartment homes and approximately 4,800 square feet of ground-floor retail. NOVEL Richland Creek will feature studio, one-, two-, and three-bedroom apartment homes with elevated finishes and highly functional layouts. The community’s amenity program featuring a lobby with café and wine bar, a rooftop pool. 

Located near the intersection of White Bridge Pike and Harding Pike in Lion’s Head Village, NOVEL Richland Creek is part of Stockbridge Capital Group’s shopping center.

Stos Partners acquired 640 Massman Drive, a 169,855-square-foot Class B industrial warehouse in Nashville’s Airport industrial submarket, for $26 million. The seller, Sagard Real Estate, paid $12 million for the 8.45-acre property in 2020. JLL arranged $15 million in acquisition financing. The infill property is currently 100% leased to a single tenant.

Stos Partners plans to hold the property long term and implement moderate capital improvements designed to enhance functionality and maintain competitiveness in the market.

The building was constructed in two phases and offers optionality for future multi-tenant occupancy. The original structure, completed in 1970. An expansion completed in 2000 includes 30-foot clear heights, one additional grade-level door and five dock-high doors.

Situated on 8.45 acres at the southwest corner of Massman Drive and Acorn Drive, the property offers immediate access to Interstate 40 and Interstate 24, along with close proximity to downtown Nashville and Nashville International Airport.

The Boring Co. announced its first residential station agreement for Music City Loop, which will serve residents in three of Tony Giarratana’s Church Street towers.

The Nashville Business Journal reports the station will be located in the parking garage of Giarratana’s Prime tower, at 805 Church St.. Residents of Giarratana’s Prime, Alcove and under-construction Paramount towers will be able to take an elevator directly to the station. Tunnelling began on The Boring Co.’s planned 19-mile circuit in late February, launching from a downtown site near the state Capitol, located at 637 Rosa Parks Blvd. Planned to end at Nashville International Airport, the tunnel will run under Rosa L. Parks Boulevard and right by Giarratana’s Prime tower.

Travel time between downtown and the airport is about 9 minutes.

Riders will board a Tesla car with a driver to be shuttled between stations.

Oracle acquired a River North property from GBT Realty Corp. for $60 million. In June 2021, Oracle paid $253.7 million for more than 65 acres of East Bank land for its future campus on the Cumberland River.

Construction of its planned $1.35 billion riverfront office campus has yet to begin, and no start date has been given. Oracle plans to have 8,500 workers in Nashville by the end of 2031.

The Nashville Business Journal reports Oracle’s tech campus is the single-largest economic development deal in city and state history. Oracle Chairman Larry Ellison tagged the campus as the company’s future world headquarters and revealed that he’s hired architect Norman Foster to design it on 70 acres on the East Bank.

Since 1987, GBT has been involved with the development, construction, leasing, management and acquisition of over 40 million square feet of commercial development, including grocery-anchored shopping centers, neighborhood centers, single-tenant buildings, regional power centers and mixed-use developments, representing over $8 billion in real estate. 

RadiusDC is developing a 102,500-square-foot data center near Trinity Lane in Nashville. Blue Owl Capital will finance the facility.

The new colocation facility, Nashville I, will be located on a 12-acre site in the Trinity Hills neighborhood. It is a data center where businesses can rent space for their own hardware. The facility will deliver 12 megawatts of power. Leasing will begin in the second half of this year, and the center is planned to open in 2026.

RadiusDC paid $5.175 million for property needed for the project, located at 2902 and 2906 Brick Church Pike.

Avison Young’s Sam Turner, Mike Jacobs, Lisa Maki and Jordan Powell represented the sellers—Mary Hale, Margaret Milhous and Holman Milhous—in the transaction.

Sellers of a 65-acre site on the Cumberland River set the price at $200 million. Ewing Properties, the property owner, has hired Stream Realty to market the property.

The parcel, called “The Riverside,” was once slated for 5 million square feet of residential, office and retail space. Ewing paid $7.6 million for the property and assembled the 65 acres starting in 2015.

The Nashville Business Journal reports the price is comparable to the number Carl Icahn is seeking for his East Bank scrapyard property, located just a few miles down the river. Oracle Corp. paid $253.7 million for more than 65 acres of East Bank land across the river from Germantown for its future campus in 2021, and Southwest Value Partners paid $125 million for the 15-acre former Lifeway Christian Resources campus in 2015.