Downtown’s The Arcade sells to local group

The Arcade — a downtown Nashville architectural icon and beloved restaurant and retail destination — has sold for an undetermined price, with local real estate industry veteran Rob Lowe part of the new ownership group.

Listed on the National Register of Historic Places since 1973, The Arcade opened in 1902 and offers an address of 65 Arcade Alley. Spanning Fourth and Fifth avenues north, it was Nashville's first “shopping center,” as it replaced what was called Overton Alley as the city’s retail commerce epicenter.