One Bellevue Place changes hands for $90.3M
One Bellevue Place — which includes the buildings housing Sprouts Farmers Market, Burlington, PetSmart, The Eastern Peak and the AMC Bellevue 12 cineplex, among others — has sold for $90,268,000.
Though businesses operating from within the structures (at least nine, depending upon how they are counted) offer their own addresses, Metro property records note a singular address for One Bellevue Place of 7614 Highway 70 S.
A Davidson County Register of Deeds document lists the new owner of the West Davidson County property as New York-based Prospect Ridge Advisors, an investment management company that specializes in private equity real estate deals.
Prospect Ridge, which owns Easton Place in Murfreesboro, also operates offices in San Francisco and Brentwood. The company landed a $55.67 million loan from Ohio-based Nationwide Life Insurance Company, according to a separate Davidson County Register of Deeds document.
The seller was Chicago-based Metropolitan Life Insurance Company, which paid $92,948,500 for the 45.95-acre site and its various buildings in 2019. Though selling for about $2.68 million less than it paid for the property, it is unclear if Metropolitan Life Insurance Company — the parent company for which is New York-based global holding corporation titan MetLife Inc. — took a loss on the transaction.
The acquisition does not include buildings accommodating Home2Suites by Hilton Nashville Bellevue and Chick-fil-A, even though both structures are landlocked by the just-sold property, according to Metro records.
In addition, the purchase does not include four standalone structures that front Highway 70 South and from which operate Chili’s Grill & Bar, Panera Bread, U.S. Bank and Regions Bank.
One Bellevue Place sits on a site that, in part, previously offered the Bellevue Mall. That suburban shopping mall closed in 2008.
Charlotte-based Crosland Southeast primarily developed the One Bellevue Place site.
The Post was unable to determine if brokers were involved in the transaction.
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