Several weeks back, word went out that the building home to historic rock club Exit/In and sister bar Hurry Back had been listed for sale.
Chris and Telisha Cobb, the owners of the two businesses at 2208 Elliston Place, outlined a plan to purchase the property through a partnership with real estate firm Grubb Properties. However, news surfaced that has forced the Cobbs to pivot. According to a report from Tennessee Lookout’s Nate Rau, the property is under contract to AJ Capital Partners.
The owners of the property to be sold, per Rau's report, are the Nash and Anthony families, which are represented by Nashville-based real estate firm Southeast Venture. The owners acquired the property in 1976 for $150,000, according to Metro records.
“We offered asking price, but the current owners chose to accept another bid,” Chris Cobb told Rau. “We're told the money was the same and their decision was based on a grudge held over the Save the Rock Block campaign, which successfully prevented a budget hotel development. We've asked the firm that won the bid to sell us the property so [that] we can preserve Exit/In and ensure it’s able to continue serving Nashville's creative working class.”
The Cobbs have established a GoFundMe campaign to raise money that’s intended to be used for purchasing the property. If their bid isn’t accepted, they’ve pledged to donate the funds to the National Independent Venue Alliance and its local analog Music Venue Alliance Nashville.
Independent venues have faced an intense battle for survival throughout the COVID-19 pandemic, during which they've had to remain mostly shuttered for more than a year. Applications for federal relief funds, via a U.S. Small Business Administration program set to disburse $15 billion in Shuttered Venue Operators Grants, are set to open April 8.
AJ Capital Partners' projects in Nashville include The Graduate Hotel Nashville on West End Avenue in Midtown and the May Hosiery complex in Wedgewood-Houston.