HCA Healthcare Emerges As The $25.5 Million Dollar Buyer Of The 30-Acre Franklin Summit Development Site In Greater Nashville
One of Franklin’s high-profile, vacant properties has a new owner — and it’s not a mixed-use developer.
HCA Healthcare, through a subsidiary called Judson Holdings LLC, paid $25.5 million for 30 acres along Interstate 65 and McEwen Avenue in Williamson County, according to newly filed deeds. The site, dubbed Franklin Summit, is one of the largest vacant, developable chunks of land in Greater Nashville.
The signature of Nick Paul, HCA’s vice president of real estate, appears on one of the transaction deeds. Jeff Calk — an attorney at Waller Lansden Dortch & Davis LLP who’s known for representing hospital systems and other health care clients in real estate transactions — is also listed in filings.
It’s unclear what HCA, which is the city’s biggest publicly traded company and the nation’s largest hospital operator, is planning to do with its new land.
“We purchase land from time to time for potential use in the future. We don’t have any plans for the property at this time,” HCA said in a statement to the Nashville Business Journal.
Don Albright of Foundry Commercial represented the property’s seller, SS McEwen 65 LLC, in the transaction, according to a press release. An initial land deed listed SouthStar, a Brentwood real estate firm, as buyer, but a subsequent filing showed that SouthStar had flipped the land to HCA’s Judson Holdings LLC.
Franklin Summit’s current zoning allows for up to 12 stories.
“It’s considered one of the most prominent development sites in the Nashville area,” Albright said in the release.
He did not return a request for comment. Last June, Albright described a then-prospective buyer, which had just requested an extension on its purchase contract, as an out-of-state developer with “extensive experience and a successful track record in the Nashville metro area.” It’s unclear what changed.
The newly sold land, which sits on a hill overlooking the interstate, is one of a collection of development sites primed for mixed-use projects in the area. Another, Ovation, sits less than a mile away. Highwoods Properties now owns the majority of that 143-acre property, and SouthStar used to own half of the site.
A couple miles away, the Nashville office of Holladay Properties is revamping The Factory at Franklin, a once-industrial site built in 1929. The property could soon hold plazas, courtyards and alleys, in addition to pre-existing retail space.