An LLC affiliated with Nashville-based Hall Capital has paid $12 million for the Germantown property home to restaurant Optimist and located near the Cumberland River.
The site offers a former warehouse that the seller, an LLC affiliated with Atlanta-based Vantage Realty Partners, purchased in November 2016 for $1 million, Metro records show, and rehabbed. The address of the structure, sometimes called the Hammermill Building, is 1400 Adams St.
The transaction accompanies Hall Capital’s having just paid $8 million for a nearby building and property, with addresses of 81, 85 and 91 Van Buren St., recognized for O-Ku Sushi (read here). The seller of 1400 Adams St. was affiliated with the seller in that deal, also. Of note, Vantage Realty Partners’ Chris Carter and Gene Rice will maintain some ownership interest in both properties.
Both properties are located near Bearded Iris Brewing Co., with the Hammermill Building located to the north of the Neuhoff complex for which construction continues to unfold.
Hall Capital is affiliated with Hall Emery, a previously related entity with which (Spectrum|Emery Inc.) co-developed downtown’s Fifth + Broad and developed the Music Row site of mixed-use building 18th & Chet. Hall Emery is now underway with 17th & Grand (Above The Row), also in Music Row, with construction of that building now topped. In August, 18th & Chet sold for $78.5 million.
“This acquisition allows us to work with best-in-class tenants on unique properties in the vibrant Germantown neighborhood, expanding on our successes on Music Row,” Allie Hall, Hall Emery vice president, emailed the Post. “We want to be in Germantown because it is the epicenter of over a billion dollars in private and public investment including the pedestrian bridge that will reshape connectivity and pedestrian access within Nashville’s urban core.”
Noted chef Ford Fry oversees Optimist, which will eventually be joined in the Hammermill Building by sister concepts Le Loup (a cocktail lounge) and Star Rover Sound. The building also includes a smallish office space accommodating BuildWitt Creative.
Rob Lowe, executive managing director with the Nashville office of Dallas-based Stream Realty Partners, represented the sellers in the both deal.
