A Northeast-primarily based industrial serious estate corporation has paid out $10 million for a South Nashville assets when owned by the late and legendary neighborhood furniture retailer Ray Batts.
According to a Davidson County Sign up of Deeds document, Forstone Money now owns the eight-parcel house, which is identified as the property of Nashville Furnishings Warehouse and has an deal with of 502 Thompson Lane. The house covers about 4.5 acres.
The vendor was Home furnishings Warehouse & Showroom Inc., which paid a collective $1.5 million for the house in two transactions (a $1.3 million offer in 2011 and a $200,000 transaction in 2016), according to Metro documents.
The obtain will come after Forstone, which is headquartered in Connecticut, compensated $12 million in late 2019 for a warehouse found at 3040 Sidco Push and in close proximity to the Thompson Lane web site (read through far more right here). Forstone also owns the Oaks Small business Heart at 2967-2977 Sidco Travel.
A little creating, dwelling to children’s playground gear supplier PlayNation, sits on the house Forstone just acquired.
Charlie Gibson, handling director for the regional business office of Cushman & Wakefield, represented Forstone. David Huddleston, a broker with CRE Nashville, repped vendor.
Lengthy-time Nashvillians will try to remember the Nashville Home furniture Warehouse making once accommodated Ray Batts Furnishings and Equipment Co. For context, Batts — who owned many outlets in the region and specialized in La-Z-Boy reclining chairs — and spouse Mildred Batts offered the constructing alone to a associated entity for $176,000 in 1973.
Recognized as “The Home furniture Person,” Batts died in 2015 at age 90. His wife experienced earlier died in 2005.