A Northeast-based mostly professional serious estate company has paid $10 million for a South Nashville property once owned by the late and iconic neighborhood home furniture retailer Ray Batts.
In accordance to a Davidson County Sign-up of Deeds document, Forstone Money now owns the 8-parcel assets, which is acknowledged as the residence of Nashville Furniture Warehouse and has an address of 502 Thompson Lane. The property addresses about 4.5 acres.
The seller was Furnishings Warehouse & Showroom Inc., which paid out a collective $1.5 million for the residence in two transactions (a $1.3 million offer in 2011 and a $200,000 transaction in 2016), in accordance to Metro records.
The buy comes after Forstone, which is headquartered in Connecticut, compensated $12 million in late 2019 for a warehouse found at 3040 Sidco Travel and in the vicinity of the Thompson Lane web-site (read far more listed here). Forstone also owns the Oaks Business enterprise Middle at 2967-2977 Sidco Travel.
A little setting up, residence to children’s playground equipment supplier PlayNation, sits on the assets Forstone just obtained.
Charlie Gibson, controlling director for the community business office of Cushman & Wakefield, represented Forstone. David Huddleston, a broker with CRE Nashville, repped seller.
Extended-time Nashvillians will try to remember the Nashville Furnishings Warehouse making when accommodated Ray Batts Home furniture and Equipment Co. For context, Batts — who owned various outlets in the location and specialized in La-Z-Boy reclining chairs — and wife Mildred Batts marketed the building alone to a related entity for $176,000 in 1973.
Acknowledged as “The Furnishings Gentleman,” Batts died in 2015 at age 90. His wife had formerly died in 2005.