A Northeast-dependent industrial actual estate company has compensated $10 million for a South Nashville property after owned by the late and iconic regional home furnishings retailer Ray Batts.
According to a Davidson County Register of Deeds doc, Forstone Capital now owns the 8-parcel house, which is regarded as the household of Nashville Furniture Warehouse and has an handle of 502 Thompson Lane. The home handles about 4.5 acres.
The vendor was Home furnishings Warehouse & Showroom Inc., which paid out a collective $1.5 million for the assets in two transactions (a $1.3 million offer in 2011 and a $200,000 transaction in 2016), in accordance to Metro information.
The obtain arrives just after Forstone, which is headquartered in Connecticut, paid $12 million in late 2019 for a warehouse positioned at 3040 Sidco Push and around the Thompson Lane site (study additional right here). Forstone also owns the Oaks Business enterprise Heart at 2967-2977 Sidco Drive.
A tiny creating, household to children’s playground equipment supplier PlayNation, sits on the residence Forstone just acquired.
Charlie Gibson, controlling director for the regional business office of Cushman & Wakefield, represented Forstone. David Huddleston, a broker with CRE Nashville, repped vendor.
Long-time Nashvillians will don’t forget the Nashville Household furniture Warehouse building after accommodated Ray Batts Furnishings and Appliance Co. For context, Batts — who owned many stores in the region and specialized in La-Z-Boy reclining chairs — and spouse Mildred Batts offered the constructing alone to a connected entity for $176,000 in 1973.
Identified as “The Household furniture Male,” Batts died in 2015 at age 90. His wife had formerly died in 2005.