The Anschutz Entertainment Group (AEG) has big plans in store for the Nashville commercial real estate market. The world’s leading sports and live entertainment company teamed up with Southwest Value Partners (SWVP) to acquire a 4-acre parcel of land within SWVP’s billion-dollar Nashville Yards project. The partnership intends to use the land to develop a new mixed-use entertainment district in downtown Nashville.
AEG, which operates renowned entertainment destinations such as L.A. Live, The O2 in London and Mercedes-Benz Platz in Berlin, will work closely with SWVP to bring a 4,000-capacity music venue, a flagship Regal Cinemas luxury theatre complex, a 700-capacity live entertainment club, a 240-key boutique hotel, and more to downtown Nashville. The new development will be an integral part of SWVP’s 15-acre, multi-phase Nashville Yards project, which is set to include modern urban retail, hospitality, creative Class A office space, residential and entertainment options in the heart of Music City.
The first phase of Nashville Yards will debut in 2020 with a 591-key full-service Hyatt Regency hotel that will anchor the northwest corner of Broadway and 10th Avenue. The city’s new entertainment district will offer easy access to the Music City Center, the Country Music Hall of Fame and Museum, Bridgestone Arena, the Frist Center for the Visual Arts, The Johnny Cash Museum, and more.
“For several years, AEG has been looking for the right venue development opportunity in Nashville, one of the fastest growing cities in the country,” Jay Marciano, COO at AEG and Chairman at AEG Presents, said in a statement. “A development offering like this has to not just be special, but be remarkable. AEG is very pleased to be partnering with Southwest Value Partners and the City of Nashville in this exciting entertainment venture.”