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HomeReal EstateNations industrial property sells for $2.85M | Growth

Nations industrial property sells for $2.85M | Growth

Nashville-based actual property investor, distiller and entrepreneur Darek Bell has paid $2.85 million for some house seemingly situated inside a constructing in The Nations.

The vendor (the constructing presents an handle 4731 Centennial Blvd.), was an LLC affiliated with Phoenix-based improvement firm Alliance Residential Co.

Of notice, in June 2020 Bell offered to Alliance what was then a two-parcel 6.3-acre property for $10.35 million (learn right here). Alliance would later redevelop the location, which is situated close to Stocking 51, Silo Bend and the Cumberland River, with residence constructing Broadstone Nations.

Nevertheless, the Broadstone Nations web site is now not operational, and Atlanta-based Cortland seemingly has both acquired the residence part of the constructing or is within the strategy of doing so. The Publish has been unable to find out the standing of that deal.

The 342-unit constructing is now known as Cortland at The Nations.

Alliance officers declined to remark and Cortland officers (the corporate was based in 2005) couldn’t be contacted.

Likewise, Bell — who purchased some (or all) of the retail house (it appears the house is a part of the constructing) — couldn’t be reached for remark. He paid $6.8 million for the commercial property in March 2018 earlier than promoting two years later to Alliance.

Bell, additionally a accomplice with Bell and Associates Building, in January 2020 offered his Wedgewood-Houston property house to Corsair Artisan Distillery at 601 Merritt Ave. for $3.3 million. The client, a Chicago-based entity, is leasing the house to Corsair for 5 years.

The Nations property sits inside Metro Councilmember Mary Carolyn Roberts’ District 20.

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