NASHVILLE, Tennessee —
Franklin Street, a full-service commercial real estate services firm operating nationwide, announced it successfully brokered the sale of Rivergate Mall located at 1000 Rivergate Parkway, Goodlettsville, Tennessee. Franklin Street brokers Bryan Belk and John Tennant represented the seller, Hendon Properties, in the transaction. The buyer, Merus formerly known as Al Neyer, plans to redevelop the site into a large, mixed-use development.
“This is a transformative project for the northern Nashville suburbs and will create a new focal point for this submarket,” Bryan Belk, executive managing partner, Franklin Street, said. “The accelerated growth the Nashville region has experienced both with job creation and population has increased the need for more modern communities that mix live, work, and play, particularly in the suburbs. This is an exciting project that will bring even more vibrancy to the area.”
Demolition on the existing 514,000+ square foot structure is set for Spring of 2026. The developer has plans for a 51,000 square foot grocery store, 36,000 square feet of retail space, 340 apartment units, 80 senior living units, and 105 townhomes. The site has ease of accessibility to I-65 & Gallatin Pike leading to downtown Nashville and employment bases throughout the metro, including Dollar General’s headquarters which is next to the property.
“This opportunity offered a rare, large-scale redevelopment opportunity in the Nashville MSA,” John Tennant, executive managing partner, Franklin Street, said. “The site attracted interest from both local and national developers despite a challenging capital markets market. There haven’t been many sites in the Nashville market of this scale to come to market in the last decade.”
Merus was represented by Jordan Powell with Avison Young and Hartman Simons & Wood LLP executed legal work on behalf of the seller. The project is expected to be completed in 2029.
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About Franklin Street
Franklin Street is a fully integrated, national commercial real estate services firm headquartered in Tampa, Florida. We combine thoughtful planning with decisive action to deliver winning results to clients nationwide. Franklin Street’s seven lines of business include Capital Advisory, Insurance, Investment Sales, Property Management, Project Management and Tenant and Landlord Representation. Founded in 2006, Franklin Street has a network of industry-leading brokers and capital partners across the country to ensure exceptional client service. Learn more about Franklin Street.
