Sale looms for Midtown site suitable for large-scale development

Bids due on four-parcel property located on 19th Avenue

Originally published December 10, 2015 by William Williams

Four building finishedcontiguous Midtown parcels are expected to soon be sold, thus providing the opportunity for another large-scale development within the fast-changing district.

The property, with addresses of 821, 823, 825 and 827 19th Ave. S., spans a collective 0.76 acres. One entity owns two parcels with another owning the other two. See the sites here courtesy of Google Maps.

SVN and SVN, senior advisors with the Nashville office of SVN, are handling the sales for the owners. Bids on the parcels — which the next owner is expected to consolidate — are due Friday. The buyer could develop a building of up to 20 stories on the site, with some small buildings needed to be razed.

“This site has gained attention from the national development community and will trade at a very impressive price,” Creed (pictured) said. “The location, dimensions and proximity to amenities make this property the best development availability in Midtown today.”

Of note, 19th Avenue Land Partners owns 821 and 827 19th Ave. S, having acquired 821 in May (read here) and 827 earlier this week. The entity is affiliated with Nashville-based Premier Parking Inc. (led by Ryan Chapman and in which local developer Tony Giarratana has ownership).

Across 19th, Miami-based Lennar Multifamily is undertaking its mixed-use 19-story M Residences (read here). Adjacent to the sites are the seven-story modernist American Apartments building and mixed-use tower Adelicia.