Hard Hat Zone: Dolly Parton's The Dollywood Company has purchased an 11-story, 233,314 sq. ft. downtown Nashville building at 211 Commerce St. for $75 million, with plans to convert it into a hotel. "Since the pandemic, commercial real estate is becoming an opportunity. I strongly believe in the future of Nashville and feel this is a great investment," Parton told the Nashville Business Journal. The Dollywood Company already operates two hotel resorts near its namesake theme park in East Tennessee.
In other real estate news, Nashville satellite city Berry Hill could be the site of a new four-acre film and music studio campus housing some Universal Music Group operations, pending approval of the city's leadership. The reportedly $250m project is expected to house recording studios, scoring stages, office space, an audio research and development facility, four "producer cottages" and an outdoor performance venue at nearby Columbine Park.