Middle Street art

A large property with a main address of 2820 Dickerson Pike has sold for $8.5 million — one of the more high-dollar and large-acre deals the fast-changing street has seen since its reinvention began about five years ago.  

The new owner of the 12.9-acre property, which offers no building and for which a residential project is on tap, is an entity affiliated with Charleston, S.C.-based Middle Street Partners.

The seller was Rudra Investments, which acquired the three-parcel property for $4.8 million in December 2017, according to Metro records.

Middle Street Partners seemingly is eyeing an apartment development with up to 300 units. Company officials could not be reached for comment, but a source with information about the deal and who asked to go unnamed said a workforce housing component is being considered.

The deal is the equivalent of about $654,000 per acre, one of the more noteworthy figures for a recent Dickerson Pike transaction, according to sources.

Nashville-based The Cauble Group represented Rudra. Ashley Bishop, a broker with locally based Southeast Venture, represented the buyer.

Dickerson Pike continues to see robust activity. Near the just-sold property (at 2600 Dickerson Pike), and as the Post has reported, Woodfield Development is planning a 240-unit project (read here).

And in September The Cauble Group announced plans for a food and beverage business similar to its The Wash near Five Points. That site (read here) offers an address of 2801 Dickerson Pike.   

“2820 Dickerson Pike offers a rare opportunity within the Nashville loop to develop a large-scale project that will likely hold more than 300 multi-family apartment units,” Tyler Cauble, founding president of The Cauble Group, told the Post. “This transaction is one of most significant the area has seen in both price and overall land size. The Cauble Group is excited to further our contributions to the growth of Dickerson Pike, thanks to its unparalleled connectivity to the city, skyline views and rapidly growing East Nashville neighborhoods.”

My position with Nashville Post has evolved since 2000 when I began work with the now-defunct The City Paper. TCP became a Post sister pub in 2008 (when I began some Post work) and folded in 2013. I have worked mainly with the Post since late 2011.

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