The purchase of an athletic facility in Cool Springs has been cancelled by the proposed buyer because of continued delays and uncertainties.
Al. Neyer, the Cincinnati, Ohio, commercial real estate developer and design-builder, has cancelled its agreement to buy the A-Game Sportsplex.
“After months of trying to reach agreements with the property owners of A-Game, and considerable expense and delay, we have decided to terminate our contract to purchase the site,” says Molly North, president & CEO, Al. Neyer. “Continued uncertainties about existing tenant leases, lawsuits and other deterrents had a tremendously negative impact on the timetable we envisioned to redevelop the property.”
The developer originally planned to acquire the A-Game facility in December 2015 and convert it into Class A office space. “We were very excited about the opportunity presented by this site, but the circumstances involving this transaction created too many delays and did not allow us to move forward in a timely manner that accommodated our investors and the expectations of several prospective tenants. We are truly disappointed by this outcome,” says North.
“We remain committed to the Nashville market now and in the future, and are actively pursuing other opportunities to help meet Middle Tennessee’s demand for commercial real estate.”
About Al. Neyer
For more than 120 years, Al. Neyer has offered a full-range of real estate development and design-build construction solutions for commercial clients. Established in 1894 and employee-owned since 2014, the company specializes in urban mixed-use developments and build-to-suit commercial spaces, including medical office buildings and industrial facilities. Al. Neyer has been continually recognized for its ability to collaborate and provide greater value, high-quality and faster project delivery. Al. Neyer is headquartered in Cincinnati, has offices in Pittsburgh and Nashville, and serves a local, regional and national client base. More information about the company can be found at www.neyer.com.
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