Former Gibson Headquarters Sold; Makerspace Planned
NASHVILLE, TN, July 14, 2021 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 309-311 Plus Park Boulevard, consisting of two office buildings located in Nashville, TN, according to Jody McKibben, regional manager of the firm’s Nashville office. New York-based Kreate Hub are the new owners of the property.
“Kreate Hub is excited to lay roots in Music City. We are a community incubator and there is nothing more fitting than revitalizing and reimagining the former Gibson Guitar world headquarters to do so in Nashville. We don’t take the history of the building lightly,” said Dan Herdoon, Kreate Hub’s founder and CEO.
Garrett Miler, Rob Lyons and Thomas Fakharzadeh, investment specialists in Marcus & Millichap’s Nashville office, had the exclusive listing to market the property on behalf of the seller, while the buyer was secured and represented by senior associate Peter Malone, also of the Nashville office.
309 Plus Park Blvd is a 33,800-square-foot, two-story office building and 311 Plus Park Blvd is a 33,503-square-foot, two-story office building, with over 285 parking spaces shared between the two. The buildings have a deep history with Music City, with both at one point making up the world headquarters for the Gibson Guitar Company. They are well known landmarks for commuters on Interstate 24, as the Gibson Guitar Company logo can be clearly seen from the highway.
The new owners have big plans for the campus with the goal of repositioning the property as a workspace for artists, makers, technologists and entrepreneurs. They plan to offer affordable studio workspaces and have announced it will open its first Nashville location in early 2022. Kreate Hub’s other locations include New York City and Philadelphia, with a Baltimore location opening soon.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.