A Nashville real estate developer has secured more than $17 million that will finance his efforts to double the scope of his mixed-use development in a high-profile area of West Nashville.
Nathan Lyons and others involved in the Stocking 51 development in The Nations formally broke ground Tuesday on an expansion that will create 75,000 square feet of office and retail space at 4900 Centennial Blvd.
The property is next door to the first phase of Lyons’ development, which mainly consists of a revitalized hosiery mill at 51st Avenue North and Centennial Boulevard. Tenants of that 72,000 square feet of commercial space include pizzeria Nicky’s Coal Fired, coffee shop Frothy Monkey, Southern Grist Brewing, the fashion company Able (formally, fashionABLE Inc.) and others.
Lyons, founder of Vintage South Development Inc., said the expansion should be open in the first quarter of 2020. Franklin Synergy Bank (NYSE: FSB) is financing the work. Nashville’s City Construction LLC is building the project, which will preserve a cluster of silos Lyons intends to use as a landmark. Centric Architecture designed the project.
Lyons said he’s negotiating with potential tenants for some of the space. Trent Yates, a partner at newly formed brokerage Sagemont Real Estate, is representing Lyons in those talks.
(Jeff Smith, Commercial Banker, and Myers Jones featured in groundbreaking photo above)