Marketplace: CODA exits East Nashville

Monday, May 12, 2008 at 2:43am

Developer Lynn Ellsworth, who created the West End condominium market, sold his East Nashville property to another developer who plans to build apartments.

Double A Development bought the former Bank of America processing center on Main Street for $3 million.

Ellsworth had bought the property four years ago for $1.6 million and had planned to develop it himself after having success with nearby City View Lofts.

The developer now is focusing elsewhere.

His CODA Development still is working on selling units in Midtown Lofts and has Belle Meade and Green Hills projects in the works as well.

Double A is run by Adam Liebowitz, formerly of Alliant Commercial and Bristol Development, the latter of which he assisted in building apartments.

Liebowitz currently has District Lofts under construction along Third Avenue North. About 90 percent of the 69 units have sold. Double A is working on 600 Garfield St.

He said the project will be a mix of retail and rental apartments with total development cost of $45 million.

Retail center sells

Village Place, a small retail strip center in Franklin, has sold for $2.85 million.

Village Place Partnership bought the center at 102 Lumber Drive from ENZO Investment Group.

Brent Basham and Buck Haltiwanger, brokers with Nashville Commercial/Cushman & Wakefield, represented the seller.

Michael Stevenhagen of U.S. Equities Corp. represented the buyer in the deal.

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Filed under: City Business