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Momentum Represents Buyer of $5M Nashville Commercial Property

State sells Charlotte Avenue property for $5M

General Services finds buyer for long-offered ex-Ed Lindsey Industries for the Blind site

As seen in the Nashville Post

Author: Staff

April 1, 2019

The State of Tennessee has sold a Charlotte Avenue property once home to Ed Lindsey Industries for the Blind for $5 million.

The buyer is 4110 Charlotte Avenue Investors LLC, an entity affiliated with Mt. Juliet-based Agilitas Property Development, which focuses on the development of medical office buildings. Wilson Bank & Trust provided a $4.7 million loan. Sharon Emerson, founder of Nashville-based Momentum Commercial Real Estate Services, represented the buyer in the deal.

Sharon Emerson told the Post a future building could offer medical, office and retail uses and, potentially, could stand five floors.

The 1.4-acre site sits just west of the building home to Novatech and Five Points Pizza and is considered by many as located within the northern segment of Sylvan Park. It is also located near both Sylvan Heights and The Nations in a section of the Charlotte corridor that is primarily commercial and home to a number of recent developments.

The sale comes after the state twice solicited bids from interested buyers. The first effort was in June 2018, an attempt that failed to yield offers that met the state's minimum reserve requirement. In September, the state solicited bids once more.

building at ex-Ed Lindsey Industries for the Blind site
ex-Ed Lindsey Industries for the Blind site on Charlotte Ave in Nashville

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