The FieldHouse Jones Hotel located in East Nashville has been offered for sale for an undisclosed asking price.
Located at 811 Main St., the hotel offers 93 rooms and a rooftop bar. It opened briefly in late 2019 before suffering damage during the March 2020 tornado and closing.
Rehabbing of the structure continues, and the property is being marketed for sale as what will be an essentially new building.
An LLC affiliated with Nashville-based developer Adam Leibowitz and various business partners owns the five-story hotel building.
Leibowitz has enlisted Atlanta-based Hodges Ward Elliott to handle the marketing and sale of the property.
Zach Moore, Hodges Ward Elliot vice president, said FieldHouse Jones is positioned to benefit from the focus on future East Bank development (particularly with Oracle and River North). He added that FieldHouse Jones is the only upscale and comprehensive hotel located in East Nashville and near the East Bank.
“For years, there has been a false perception following Nashville’s lodging market like a shadow — that the good times and outsized returns for new hotel investors have passed,” Moore said. “For those investors who did not understand the market, supply versus demand growth charts paralyzed dollars that ended up creating windfalls for others thanks to Music City’s equal parts leisure and corporate growth."
Moore said that COVID potentially has forced the scrapping of some would-be hotel projects eyed for downtown and Midtown.
“As a result, we expect that pent-up demand, a mitigated new supply pipeline and the future transformation of the East Bank will once again provide today’s investors new windfall opportunities over a two- to five-year horizon.”