FORMER MADISON MILL TO BE CONVERTED INTO OFFICE, RETAIL SPACE IN NASHVILLE
Sylvan Supply, an adaptive re-use development featuring large format, class-A creative office space, select dining, and shopping and expansive courtyards by Third & Urban and FCPSM will continue the reactivation of the Charlotte Avenue corridor in Nashville, Tennessee.
The team has closed on the acquisition of the former Madison Mill on Charlotte Avenue, which will be divided into six buildings connected by open corridors and terraces providing outdoor workspaces for tenants. The project will have 133,000 square-feet of creative office space featuring open floor plans, large windows and outdoor space, as well as 27,000 square-feet of curated dining and shopping.
The industrial redevelopment preserves the existing buildings, repurposing the property to attract companies that want to be close to Nashville’s central business district, and encourage a creative, innovative culture.
Sylvan Supply is the first project of the newly formed Third & Urban, which merged with Westbridge Partners earlier this year. Construction is expected to begin in October, with a target delivery in the fourth quarter of 2019.
“Nashville is an incredible city for creative, infill development, with a thriving and growing economy based on innovation and invention. Early interest from companies seeking large-format creative space, as seen in other markets, shows the need for Sylvan Supply,” said Chris Faussemagne, partner at Third & Urban. “Third & Urban, FCP and our local partners have the experience and expertise to execute large-scale adaptive reuse projects in urban areas that purposefully fit and enhance the surrounding community.”
“FCP is thrilled to expand its partnership with Third & Urban and continue to build on the success of our Stockyards Atlanta project,” added Erik Weinberg, senior vice president at FCP. “Sylvan Supply will be the institutional quality adaptive reuse project that the Nashville market has been craving for some time and will be a catalyst to the West End/Charlotte Avenue submarket.”
“I am excited to see this property be redeveloped and to see how Third & Urban gives new life to the existing structures,” said Kathleen Murphy, Nashville City Councilwoman for District 24. “This project will complement the renewed interest and businesses on Charlotte Avenue without additional entitlements or concessions from the surrounding neighborhoods. It will be a great addition to the entire Charlotte corridor.”
Originally used to create high-quality wood products, Sylvan Supply will reflect the history and heritage of the property while serving as the gateway between Sylvan Park and Sylvan Heights. Centrally located, the project offers easy access to Belle Meade, Green Hills, The Nations, Westside, Midtown and Downtown.
The developer has put together a strong Nashville-based team to execute the project including Centric Architecture and landscape architect Hodgson Douglas. Bo Tyler, Bill Adair and Ashley Albright with JLL are heading the office leasing, and Elliott Kyle with Equitable Property Company is handling the retail leasing. The seller was Tom Patten, who owned Madison Mill for three decades.
