01.26.22Renovated factory Sylvan Supply sells to CBRE for $87.5 million

Renovated factory Sylvan Supply sells to CBRE for $87.5 million

Sylvan Supply, a renovated office, retail and dining development in West Nashville, now belongs to a global investment firm.

CBRE Investment Management paid $87.5 million for the nearly 200,000-square-foot complex, according to multiple industry sources with knowledge of the deal. Its previous owners were developer Third & Urban and investment firm FCP, which oversaw renovations to the property from 2018 to 2020, when it opened doors, according to a news release.

Tom Harris, asset manager for CBRE, said his company is “excited to build on the momentum started by the Third & Urban and FCP teams at Sylvan Supply.”

“In the midst of a global pandemic, this asset has seen incredible demand from both office and retail tenants, which we believe speaks to the unique characteristics of the property,” he said.

Sylvan Supply — housed in the historic former Madison Mill Inc. complex and situated at the entrance to Charlotte Avenue’s Sylvan Park neighborhood — boasts a wide roster of retail tenants. They include Bearded Iris Taproom, Barista Parlor, Otaku Ramen and more.

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