Also: AllianceBernstein to take temporary space at WeWork office; Village moves Franklin office to historic structure

Charlotte-based hotel development company Tara Investments Inc. is under contract to buy the Gulch property currently home to Yazoo Brewing Co., Nashville Business Journal reports.

Last March, officials with the Nashville brewery announced plans to relocate to a site in Madison, having contracted with an undisclosed buyer for its downtown property at 910 Division St. NBJ cited multiple real estate confirming that Tara Investments is the firm and is eyeing a Canopy by Hilton hotel for the property.

Tara Investments’ portfolio includes hotels in Charlotte, Charleston and Greenville, with several Hilton brands among them.

According to the company’s website, the group’s first acquisition was the 2003 purchase of a Hampton Inn & Suites located near Nashville International Airport. The pending deal in the Gulch, however, seemingly would yield the company's first development in Nashville.

Details of the planned hotel’s size and construction timeline are undisclosed, according to NBJ, with no comment yet issued by Tara Investment officials. Also undisclosed is the price the company agreed to pay for the Yazoo site.

Nashville real estate investor Nick Spiva bought the property for $1.2 million, but it has since been listed for $9.75 million by Urban Grout Commercial Real Estate.

Of note, the land is zoned in the downtown code, allowing developers increased flexibility and latitude in design.



AllianceBernstein to take temporary space at WeWork office

AllianceBernstein, which eventually will relocated to Nashville from New York the bulk of its operations, will take temporary space at WeWork's One Nashville Place office, Nashville Business Journal reports.

Citing a source familiar with the deal, the lease gives AllianceBernstein the ability to add up to 400 jobs in Nashville.

NBJ first reported AllianceBernstein had chosen the future office building at the under-construction Fifth + Broadway development for its eventual corporate headquarters. The company has yet to announce the future headquarters home.



Village moves Franklin office to historic structure

Nashville-based Village Real Estate Services has relocated its Franklin office from Church Street to an historic structure known as The Red House.



In a release, Village cited increased office space and convenience for the move and noted plans for a late summer open house to “show off the new office.”

Built in 1877, The Red House is located at 138 Third Ave. N. and most recently served as a special events facility, offering 2,801 square feet, high ceilings and front and side porches.

“Williamson County is an important real estate market for us,” Village Founder and CEO Mark Deutschmann said in the release. “This prime location just one block from Franklin’s public square, encourages more walk-in clients, expands our resources and allows us to increase our presence.”



Aetna to join Franklin’s Berry Farms

Health insurance giant Aetna Inc. has struck a deal with Boyle Investment Co. for a building at the Memphis-based real estate agency’s Berry Farms in Franklin.

The sprawling 600-acre mixed-use development might see Aetna’s offices open within about a year, according to the Nashville Business Journal.

Williamson County public records indicate that Aetna officials have signed a 10-year lease with two five-year extensions, and a company spokesperson confirmed to NBJ that the lease is for a recently constructed three-story building representing 82,600 square feet of office space.

The Berry Farms building represents a 10,000 square foot upgrade for Aetna, which operates from buildings at 800 Crescent Centre Dr. and 5000 Meridian Blvd.,” according to NBJ.

Aetna is seeking to grow its employee roster from about 400 Franklin workers to 600 as it switches locations.

Aetna's addition provides another dose of activity at Berry Farms. According to the NBJ, the development is also home to mechanical contracting company Lee Co. (at which gubernatorial candidate Bill Lee serves as chairman) and will soon welcome the headquarters of Ramsey Solutions, consulting company of financial speaker Dave Ramsey.





