Marketplace: Another ‘for sale’ sign on the Row

Tuesday, May 27, 2008 at 3:04am

Universal Music Group’s former Music Row office building has been put up for sale.

Universal moved downtown this year into the new SunTrust Plaza building next to the Ryman Auditorium.

Principal Financial Group owns the 40,000-square-foot building at 54 and 60 Music Square East and is asking $8 million. Colliers Turley Martin Tucker has the listing.

Several Music Row properties have sold over the past few months. The most recent, 1025 16th Ave. S., sold for $5.1 million.

Mathews buys showroom space

Gallatin real estate investors L. A. Green and Lynn Little sold Airport South Business Center for $3.2 million.

A partnership led by Bert Mathews bought the 61,000 square-foot office showroom building at 501 Metroplex Drive.

Jerry Miele and Max Smith, brokers with NAI Nashville, represented Mathews in the transaction. Perry Gooch and Ronnie Wenzler, both Colliers brokers, represented the sellers.

The buyer borrowed $2.45 million through American Investors Life Insurance Co., according to property records.

Joe’s Crab Shack property sold

A California investor has bought the Second Avenue building housing Joe’s Crab Shack for $3.5 million.

The investor bought the property from California-based Sovereign Investment Co., which specializes in “net lease” properties.

Based on the property records, the property continues as a net lease deal.

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Filed under: City Business