Report: Endeavor Real Estate sells Nashville tower for $295M

Drew Hutchinson | Reporter
Source: Austin Business Journal

Austin-based Endeavor Real Estate Group LLC has sold a 26-story mixed-use tower in Nashville that includes a location of Whole Foods Market, according to a report from Nashville Post.

Boston-based Intercontinental Real Estate Corp. bought the building for $295 million, the Post reported, citing anonymous industry sources. Endeavor developed the tower in 2019.

The Davidson County Register of Deeds hasn’t recorded the transaction yet.

The property — known as 1200 Broadway due to its address — features 313 apartments, 66,000 square feet of office space and 46,000 square feet of retail, anchored by Whole Foods Market. When non-residential space is subtracted, the recent sale equals a per-unit price of more than $600,000, sources told the Post, which would shatter the city’s existing per-unit price by at least $158,000.

1200 Broadway falls near some of Nashville’s most transformative developments. Under construction across the street is GBT Realty Corp.’s One22One tower; next door is the site of Highwoods Properties’ (NYSE: HIW) Gulch Central district; and down the street are two heavily watched project sites: Hines’ Reed District lot and GBT Realty Corp.’s Beaman dealership property, both of which will one day house giant mixed-use developments.

The tower is also around one-half mile from the busiest part of Lower Broadway, one of the city’s bustling tourism corridors.

Endeavor Real Estate Group originally spent $14.6 million on the then-undeveloped 1200 Broadway site.

Endeavor has been active in Nashville in recent years. It is developing the multi-tower Gulch Union project, with one high-rise already completed.