Newmark closed the $66 million sale of 3.17 acres at 1401 Church in Nashville, Tennessee’s, dynamic Midtown submarket.
Newmark represented the seller, Dairy Farmers of America in the sale to Bosa Development, a commercial and residential developer.
1401 Church is a former dairy factory currently zoned for a wide range of uses, including multifamily, office, hotel and retail, with a 5.0 FAR with bonus height potential. The site will be Bosa Development’s first project outside of the west coast. DFA previously acquired the property as part of its purchase of Dean Foods in 2020. Plans have been filed with Metro Planning to build a mixed-use development including three structures of 30, 35 and 45 stories.
Newmark Executive Managing Directors Tarek El Gammal and Vincent Lefler and Director George Schubert represented the seller. Executive Managing Director John Shaunfield, Director Kyle Jett and Vice Chairman Chris Murphy of Newmark’s Dallas office also provided transactional support.
Currently recognizable by its five storage tanks towering over Church Street, the property overlooks the inner-interstate loop with additional access on 15th Avenue and Grundy Street, making the future development highly walkable to current and future employers and amenities, such as the forthcoming Nashville Yards.
