John Rich and partners closed the sale of 200 Broadway in Nashville, Tennessee in a landmark deal in commercial property closings. The famed “Cotton Eyed Joe” building sold for $24.5 million, turning a 32% profit from the purchase of the building in 2019 for $18.5 million. The deal is finalized this week and the undisclosed buyer will take possession immediately. The deal was brokered by Seth Harlan of Robin Realty for TAC 200 Broadway, LLC.
Co-investor John Rich says, “I have been playing music and building a dream career in Nashville for well over half of my life. This town has given me so many opportunities on so many levels, it has literally changed my life. The past decades of singers and songwriters that landed here before me are the shoulders I stand upon, and the new talent that arrives in Nashville in the future will all benefit from a healthy and strong Music City. America gives us the right to pursue our dreams and I have and will continue to do that right here in Nashville. As this great city continues to evolve, we welcome our new neighbors here on Lower Broad as they set forth on fulfilling their goals.”
Nashville’s Lower Broadway district is one of the country’s most popular destinations on an international scale. Since its renaissance several years ago, the growth of celebrity-based honky-tonks, an upscale shopping, residential and commercial complex erected, major TV specials, the NFL Draft and so much more is calling Lower Broadway home. An investment in this area is one of immense potential as evidenced by this recent sale.
Redneck Riviera owner John Rich started in 2019 with the purchase of the property, “The area is home to the highest-grossing bars and restaurants in Nashville with revenue between $18 – $23 million per year. Just a year after the launch of Redneck Riviera, we are proud to be building a portfolio rich in Nashville history and building for its future.”
Redneck Riviera is one of today’s leading Honky Tonks in the district that offers patrons a healthy dose of patriotism with its one-of-a-kind Heroes Bar, specialty drinks featuring Rich’s Redneck Riviera Whiskey and Howdy Dew coupled with great live music and much more.