A Brentwood office building accommodating a music publishing company with clients including CeCe Winans, TobyMac, Mandisa, Amy Grant, Michael W. Smith and Newsboys has sold for $13.8 million.
According to a source who asked to go unnamed, the new owner of the property, located at 101 Winners Circle N. in Maryland Farms, is an LLC for which one member is affiliated with Blankenship CPA Group. That entity operates offices in Brentwood, Dickson, Goodlettsville, Mt. Juliet, Murfreesboro and downtown Nashville.
The seller was Floyd Shechter, president of Nashville-based real estate company SmartSpace LLC. Shechter acquired the building in 2009 for $6.86 million ($115 per foot), the source said. The seller at the time was a real estate investment trust affiliated with Raleigh-base Highwoods Properties.
The transaction is the equivalent of $230 per square foot based on the building’s size. For comparison, the Maryland Farms building home to HCTec YMCA recently sold for $6.1 million, the equivalent of about $281 per square foot based (read here).
Opened in 1983, the just-sold building originally served as the headquarters of the Mrs. Winner’s Corp., the parent of fast food chain Mrs. Winner’s Chicken and Biscuits. That company vacated in 1993, replaced by Sparrow Records — which later became EMI Christian Music Group and now is known as Capitol Christian Music Group.
Capitol Christian Music Group, founded in 1976 and a division of Universal Music, is expected to vacate the building in 2023 after what will then have been a 30-year tenancy. The source said the new owner plans to occupy the building at that point.
SmartSpace’s Anthony Caduff represented the seller, while Roger Thomas of Veritas Realty Group represented the buyer.