An Austin, Texas-based developer has paid S13.4 million for the former home of Nelson Mazda on Broadway where it plans a mixed-use project.
Endeavor Real Estate Group bought the 1.4 acres at 1202-1222 Broadway from the dealership's ownership entity, NC Holdings LLC.
Separately, the company expects next month to complete buying an adjacent 0.20-acre vacant tract between that dealership and The Tennessean.
Late last month, Endeavor Managing Principal Jamil Alam said the mixed-use project the company pl ans ior the overall 1.6 acres will have a strong retail component with an emphasis also on being pedestrian-friendly.
He cited grocery stores, restaurants, fitness-related businesses such as a gym, spin class, yoga or a bike shop and a coffee shop among exam pl es of targeted retailers.
On Thursday Alam said Endeavor had no update on its plans.
'We are still studying the site," he said.
Will Marsh, a principal in Endeavor, said residential is another type of use the company is considering along with offices. 'We continue to look for other sites in Midtown and the Gulch area," he said.
Nelson Mazda closed its BroadWay location at the end of July. Chad Custer, the dealership's chief operating officer and managing partner, said Nelson Mazda would service affected customers through its Antioch and Cool Springs locations while it seeks another site in the Nashville area.
The mixed-use project at Broadway and 12th Avenue North would be the first in Nashville for Endeavor.
Elsewhere, the company, along with San Antonio-based The Lynd Co., developed The Bowie, a 36-story mixed-use tower in Austin with 358 luxury rental units, 41,000 square feet of office space and 3,890 square feet of restaurant space.