A Dallas-based real estate and investment firm has paid $3.9 million for roughly an acre and a half along the Charlotte Avenue corridor that's been home to one of Middle Tennessee's oldest plywood distributor.
Provident Realty Advisors Inc. bought 415 27th Ave. N. and 526 26th Ave. N. from Plainsman Group LLC, whose chief manager is Nashville Plywood Inc.'s owner Wynton R. Overstreet.
Developers Case Van Lare and Richard Byrd of Provident Realty, who have been pursuing sites around Nashville for self storage projects, declined to discuss plans for the property that runs between 26th and 27th Avenues North.
Upon receiving approval in August for an eight-story, 150,000 square foot self storage building at Eighth and Drexel in the area south of Broadway, they revealed contracts on two other sites in the Vanderbilt-West End and SoBro areas for approved six-story self storage projects with 300,000 rentable square feet of space.
Until recently, Provident also had a contract to buy the Tennessee Education Association's headquarters at 801 Second Ave. N. The developer's plans had called for a 371-unit apartment project.
The property purchased off Charlotte Avenue includes 0.92 acres at 415 27th Ave. N. with a 20,420-square-foot warehouse building on it and 0.35 of vacant commercial land at 512 26th Ave. N.