12South homes of Corner Music, Fork’s Drum Closet sold for $7M

Nashville real estate investors have paid $7 million for the high-profile 12South buildings home to Corner Music and Fork’s Drum Closet, which plan to relocate in the coming months after decades in the neighborhood.

Corner Partnership teamed up with local investor Bert Mathews to buy the buildings at 2701 and 2705 12th Ave. S. from Fork's Drum Closet owner Gary Forkum and Corner Music owner Larry Garris.

The new ownership group plans to renovate the structures for new tenants once the music businesses vacate this fall.

“We think (12South) is one of the most dynamic residential and retail neighborhoods in the city and so we’re really, really excited to have a chance to be a part of it,” said Mark Bloom of Corner Partnership, which owns prominent real estate in SoBro, Midtown, the Gulch, Lower Broadway and downtown Franklin.

Bloom said new tenants would be retail-oriented and complement the other dining and shopping experiences in 12South.

“We love the way it looks and everybody likes the way the neighborhood is setting up with all the retail and the restaurants. We’re going to continue along those lines and try to create some more cool choices for both the visitors and residents out there,” Bloom said.

Forkum and Garris invested in 12South long before the sidewalks were packed with people and trendy businesses lined the street.

Garris opened his music store Corner Music in Berry Hill in 1976 and relocated to the 12South building in 1984. Forkum started working at Corner Music in 1977 and he bought the drum department from Garris about five years later. For decades, the pair have served Nashville’s music industry professionals, many who walked from Music Row to the 12South shops.

“In 1984, this was perceived as a bad area. But it wasn’t; we knew that,” Garris said.

Garris and Forkum decided it was time to sell their buildings because 12South real estate values have skyrocketed and their businesses don’t need the visibility of being on a highly-trafficked street.

“12South has been a great thing for us…it has become a cool, hip, trendy place and we’ve been happy to be here for 30-something years, but I think it’s time. Maybe something else can come here and take advantage of this area and the tourist traffic,” Forkum said.

Pat Howell of C.A. Howell and Company represented both business owners in the sale, and he is helping them find new locations.

"Corner Music and Fork's Drum Closet have been commercial pillars in this area for decades, and Larry Garris and Gary Forkum were at the forefront of 12South becoming one of the most vibrant neighborhoods in Nashville," Howell said. "While we are sad to see them go, we're excited that local, Nashville-based buyers are joining the neighborhood. They will be a great addition in the community spirit of the 12th Avenue South corridor."

Forkum said he’s already under contract on a new building in a “close by urban neighborhood.” Garris said he’s looking at four different properties and hopes to finalize a deal soon in a nearby neighborhood.

They plan to close the 12South stores in September.

“This is not the end of Fork’s,” Forkum said. “We’re going to continue on, just in a different location and still give the same great service and offering of products, with the same bunch of guys working here. It’s not the end, just a move.”

Reach Lizzy Alfs at lalfs@tennessean.com or 615-726-5948 and on Twitter @lizzyalfs.