Marketplace: Local dealer may find its Bearings

Monday, August 11, 2008 at 3:18am

The former Allied Bearings building at 930 Eighth Ave. S. will become a dealership for America’s Motor Sports.

Richard and Dorothy Watts of Mt. Juliet recently paid $1.7 million for the 18,000-square-foot building just south of the downtown interstate loop. They borrowed $2 million through Wilson Bank & Trust.

America's Motor Sports runs three local dealerships in Madison, Dickson and on Nolensville Road here.

Owner Chris Watts said he will relocate the Nolensville location to the Eighth Avenue site, which contains more than 20,000 square feet. The new store is expected to open this fall.

Ronnie Wenzler, a broker with Colliers Turley Martin Tucker, represented Leigh Skillington in selling the property. He wasn’t at the Donut Hole in Destin, Fla., when the deal closed. David Stremic, a broker at Crye-Leike Commercial, represented the buyer.

Nursing home has new owner

A Chattanooga investor has paid $6.8 million for the nursing home at 3425 Knight Drive off Briley Parkway near Whites Creek.

The buying entity of the former Briley Nursing and Rehabilitation Center is an affiliate of a company that buys nursing homes that are then managed by Grace Healthcare based in Chattanooga.

To make the purchase, the buyer borrowed $6.3 million through the First National Bank of McMinnville.

Mt. Juliet apartments trade

Bridge Partners based in Delaware bought the Valley Forge Apartments in Mt. Juliet for $5.15 million.

Colliers broker Scott Tyrone handled the transaction for the 96-unit apartment complex at 4675 Old Lebanon Dirt Road.

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Filed under: City Business