East Nashville property sells for $10M

An East Nashville property located near the intersection of Trinity Lane and Ellington Parkway and once eyed for a mixed-use project has sold for $10 million.

According to a Davidson County Register of Deeds document, the new owner of the two-parcel 4.67-acre property is an LLC affiliated with local businessman Tim Johnson and Out of Office Ventures (which is co-based in Charlotte and Chicago). The addresses of the site are 910 and 920 Cherokee Ave.

910-920 Cherokee Ave.

Jim Agee and Wynton Overstreet, via an LLC, were the sellers, with Metro records unclear as to what they paid for the property. The two men operate Nashville Plywood from a building on the site.

Nashville's Southeast Venture (principal Jimmy Pickel and broker Nate Erwin) represented the seller, with the buyer having no representation.

The Post was unable to determine if Nashville Plywood will be moving. Founded in 1951, the company ranks among the state's longest-operational plywood distributors.

As the Post reported in October 2022 (read here), an entity not affiliated with Johnson enlisted Nashville's Centric Architecture to seek a rezoning to mixed-use from industrial. The rezoning request has since been scrapped.

Relatedly, the LLC that acquired the property has landed a $6.5 million loan from Nashville's Truxton Trust.

Johnson, who operates Nashville real estate investment and development company Material Ventures, told the Post he is not ready to disclose details regarding his plans for the site.

"We haven't settled on a future plan for the property, but we love the area and the character of the building," Johnson said, declining to note if he envisions a redevelopment of the site. "We want to contribute to the ethos of East Nashville in an authentic manner."

The immediate area — known by some locals as Highland Heights — is seeing various development activity. For example, Nashville-based Vintage South Development and Atlanta-based Shelton McNally Real Estate Partners are under construction with Laurel & Pine, located at 905 Cherokee Ave. and to offer 166 apartment units and approximately 25,000 square feet of commercial space.

Nearby on a two-parcel site at 900 and 914 E. Trinity Lane next to the Metro Police Department East Precinct, Atlanta-based development company Wood Partners is underway on project to offer some residential, retail, restaurant and creative maker/office space.

And at 600 E. Trinity Lane, work continues on residential project High View Cottages and Flats.

The property sits within Metro Councilmember Sean Parker's District 5.

My position with the Post has evolved since 2000, when I began work with The City Paper. In 2008, SouthComm Inc. bought the Post and The City Paper, after which I worked with both publications. The City Paper ceased operations in 2013, two years after I was named Post managing editor. In 2018, FW Publishing acquired the Post.