Demonbreun strip sells for $17.67M

Demonbreun strip sells for $17.67M

Nashville-based commercial real estate investment firm Elmington Capital Group announced today the $17.67 million acquisition of Demonbreun, the retail strip of restaurants, bars and offices located adjacent to the Music Row Roundabout.

Elmington Capital purchased the property from LUI Nashville Demonbreun Street, a subsidiary of Houston-based The Lionstone Group. The property was not placed on the market and was brought to Elmington Capital by independent real estate broker Richard Wallace. Crews Johnston of the Nashville office of Cassidy Turley represented The Lionstone Group.

Elmington Capital will manage the property through Elmington Property Management. Henry Menge, managing director of XMI Commercial Real Estate, will handle the leasing services.

Demonbreun consists of 63,000 square feet of retail space anchored by Off Broadway Shoes, The Tin Roof and The Pavilion, and 24,000 square feet of office space in the Miller Harris building, which is home to Country Weekly. The 97,000 square feet of retail and office space, along with two parking lots, sit on 3.38 acres.

“We are extremely excited to have the opportunity to invest in a Nashville landmark, and we look forward to continuing to provide [the city] with a venue that is uniquely Nashville,” said Cary Rosenblum, president of Elmington Capital.

In addition to the aforementioned tenants Demonbreun offers global dining options, including Sushiyobi, Tamarind and South. Several new tenants soon will begin operations, including The Dawghouse Saloon and El Camino Taco. Also, an unnamed longtime Nashville restaurateur has plans to open a craft beer and burger joint. Demonbreun’s non-food-and beverage tenants include First Citizens Bank and Harlow Salon.

In contrast, Miller Harris building tenants range from music industry heavyweights to individual songwriters.

“When you step into the building, you can feel the energy and the history that surrounds you,” Ben Brewer, Elmington Capital senior vice president, said of the Miller Harris building. “We are pleased to offer this Music Row address to the creative community in Nashville.”

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