Music City Retail Center Changes Ownership
- Apr 04, 2016
Nashville, Tenn.—Castle Rock Equity Group recently acquired a retail center in Music City for $33.5 million. Located off Music Row in the Mid-Town neighborhood, Demonbreun Hill is a lively entertainment hub providing much-needed retail options to the area.
Castle Rock plans to improve the 96,000-square-foot Demonbreun Hill sitting on a 3.38-acre site. The real estate fund is set to build a larger master-planned entertainment-focused development that be constructed in phases over the next several years. According to Castle Rock’s plans, the new mixed-use project will provide a one-stop location for dining, entertainment, offices and hospitality.
“Nashville has a dynamic and creative atmosphere. We have studied the fundamentals of the market and believe its story has just begun. Opportunities for the location are tremendous, but understanding the needs of residents, coupled with patiently coordinating amongst local organizations is more important,” said in prepared remarks Judah Angster, CEO of Castle Rock Equity Group. “This location epitomizes the vibrant nightlife of the music industry. We want to hone in on that spirit with each design and make sure that local establishments stay within the final footprint, as their character and identity are synonymous with Music Row.”
Image courtesy of Castle Rock Equity Group