O’Charley’s building sells for about $14M

One of the larger buildings located within the general One Hundred Oaks area and with an O’Charley’s history has sold for $13.95 million.

The buyer was New York City-based ZE Sidco TN Realty LLC, according to a Metro document, with the Post unable to determine specific information regarding that entity other than it is not a company.

O’Charley’s LLC was the seller.

Of note, the building is home to the parent of Nashville-based casual dining restaurant chain O’Charley’s, which acquired it in 2001 for $5.9 million, according to Metro records. Opened in 1963, the 60,205-square-foot Class B building sits on 4.07 acres and has an address of 3038 Sidco Drive.

The property had been listed for $14.5 million.

Citi Real Estate Funding arranged for about $7.32 million in funding for the transaction.

David Coulton and Andrew Coulton, president and vice president, respectively, of Brentwood-based Westgate Commercial, handled the marketing and sale of the property for American Blue Ribbon Holdings is the parent company of O’Charley’s.

Andrew Coulton told the Post in late 2018 that ABRH would assume the lease and remain as a tenant in the building for at least 10 years once the property sells. The lease type would be triple net, with ABRH paying property taxes, insurance and maintenance.

“The Sidco area has gone through a significant transformation over the past few years, and the transaction reflects the strength of this market,” Coulton emailed the Post Monday.

Craig Barber, ABRH president and CEO, said the sale/leaseback “reflects the commitment" of ABRH to maintain the support center at its long-time location.

In addition to O'Charley's, ABRH operates casual dining restaurant groups Ninety-Nine, Village Inn and Baker’s Square. A majority-owned subsidiary of Cannae Holdings, ABRH also owns and operates Legendary Baking. The company offers 500-plus restaurants in 40 states.

Charles “Sonny” Watkins founded O'Charley's in 1971, with the first restaurant operating on 21st Avenue South near Vanderbilt University. O’Charley’s has more than 200-plus company-owned locations in 17 states in the South and Midwest.