NORTHRBOOK, Ill., Nov. 2, 2023 /PRNewswire/ — Hilco Real Estate, LLC announces December 7, 2023 as the offer deadline for the sale of a hotel redevelopment in the heart of Downtown Nashville, TN.
Nestled within the famed Printers Alley, this offering represents a fee simple estate of unparalleled value. Among the many distinct neighborhoods that make up Nashville, this area stands out as a unique and historically significant part of the city. Starting out as a bustling publishing center in the late 1800s, it has since transformed and become the center of the city’s nightlife with live music and nightclubs. Currently occupied by the Bourbon Street Blues and Boogie Bar, there is the potential for a seller leaseback while development plans are finalized with the city. The current mixed-use zoning opens a multitude of possibilities for investors, from reconfiguring the space to potentially constructing an additional 30 floors for the exciting prospect of a hotel or short-term rental property.
The 2022 report from Tennessee’s Department of Tourist Development showed that tourism to the state attracted 141 million visitors, generating $28.9 billion in direct spending. Notably, Nashville made a remarkable contribution of $9.24 billon across its 14.8 million visitors. The city’s continuing popularity received another boost when Travel & Leisure’s readers ranked it among their Top 15 Favorite Cities in the United States for 2023. These accolades are a testament to its enduring appeal, further enhanced by its annual events, including the CMA Festival, CMA Awards, Nashville International Auto Show and NASCAR Champion’s Week.
In the immediate vicinity of Printers Alley includes a 15-story mixed-use building that recently received approval at 215 and 217 3rd Avenue North. In addition, major renovations are underway at The Nashville Arcade located between Fourth and Fifth Avenues. With the demand for hospitality in the area, this site proves to be an exceptional opportunity for an investor or developer to convert the space into a thriving hotel venture.
Keith Worsham, senior vice president of business development at Hilco Real Estate, stated, “Acquiring the Bourbon Street Blues and Boogie Bar and its potential transformation into a hotel is not just a real estate transaction; it’s a tribute to Nashville’s enduring legacy. Printers Alley, the stage that showcased many musical legends, now presents a new beginning.” He continued, “This sale isn’t just about transferring ownership; it’s a testament to the rich history and culture of Nashville. It’s an opportunity to breathe new life into this iconic location, and with it, contribute to its ever-evolving future.”
Offers must be received on or before the deadline of December 7, at 5:00 p.m. (CT). All offers must be submitted on the purchase and sale agreement available for review and download from our listing page.
Interested buyers should review the offer procedures, available on Hilco Real Estate’s website, outlining the requirements to participate in the sale process. For further information, please contact Keith Worsham at (404) 514-0242 or [email protected], Jordan Schack at (847) 504-3297 or [email protected] and Weston Worsham at (404) 304-4993 or [email protected].
For further information on the property, sale process and terms or to obtain access to due diligence documents, please visit HilcoRealEstate.com or call (855) 755-2300.
About Hilco Real Estate
Hilco Real Estate (“HRE”), a Hilco Global company (HilcoGlobal.com), is headquartered in Northbrook, Illinois (USA). HRE is a national provider of strategic real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist clients in deriving the maximum value from their real estate assets. By leveraging multi-faceted sales strategies and techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex transactions.
SOURCE Hilco Real Estate
Originally published at https://www.prnewswire.com/news-releases/downtown-nashville-hotel-redevelopment-hits-the-market-with-a-december-7-offer-deadline-through-hilco-real-estate-301975477.html
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