Ardent Cos. To Buy SoBro Building
Atlanta-based The Ardent Cos. inked a contract to buy 126 Second Ave. South from a private entity that has owned the property for 20 years. The sale price, though undisclosed, will probably be a sizable premium above the $465K that entity paid two decades ago, the Tennessean reports.
The 24K SF, four-story building is occupied by a Trail West boot store. Trail West, which operates five other stores in Nashville, has leased the former American Steam Feed Co. building for 11 years, but Ardent is looking to replace it.
Nashville real estate broker Lance Bloom represented the seller.
Ardent has been an active investor in Nashville in recent years. In 2014, the company entered the market by buying 312 Broadway for $5M. The Valentine bar/restaurant and music venue now operates there, and in January, Ardent sold the building for $10M.
Last year, Ardent paid $16M for three retail properties at Third Avenue North and Broadway, including the former Mike’s Ice Cream shop.