Marketplace: Injury lawyers buy high-rise near Capitol

Monday, August 4, 2008 at 2:41am

Personal injury law firm Hughes & Coleman has bought 446 James Robertson Parkway for a bit more than $3 million.

The Bowling Green-based law firm will occupy the building’s first floor. According to property records, the firm, which already had a Nashville office, recorded bond debt of $3.6 million on the building.

Maximus, a government contractor, has the second floor.

Vickie Saito, a broker with Grubb & Ellis/Centennial, represented the seller. Tom Davis, a broker with NAI Nashville, represented Hughes & Coleman.

The sale was Saito’s second in the area this month. She and Richard Fulton, Grubb’s chairman here, represented Knoxville-based Horne Properties in selling 306 Gay Street for $1.6 million.

Frank Thomasson, a broker with Colliers Turley Martin Tucker, represented the buyer.

12South project underway

Core Development closed on its 12th Avenue South property for the firm’s latest mixed-used development.

Core paid $1 million for the three parcels. On it, the firm plans to begin work on 12th & Paris, a development that will have 13 rental apartments, a couple of retail spaces, a restaurant, two commercial studio condominiums and six residential condo units.

Pinnacle Bank provided a $4-million construction loan for the project.

Church closes on bank building

The Living Word Ministries closed on the former AmSouth Bank property next to Hickory Hollow Mall, paying $4.7 million for the 40,000-square-foot building.

Living Word had been in the space for several months preceding the sale. The church had to get a change to the planned-unit development for the property at July 24 Metro Planning Commission meeting.

The property comes off the property tax rolls now that a church owns it.

For InSouth, the property value went the wrong way. Metro records show InSouth paid $6 million for the property in 2001.

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Filed under: City Business