15 Acre MUG Rezoning in MetroCenter Hits the Docket
A 15-acre industrial tract on Great Circle Road just took its first step toward mixed-use: a rezoning from IWD to MUG-NS that could anchor the next wave of development in MetroCenter. Currently holding occupied light industrial buildings, a rezoning to MUG-NS would provide for a 3.0 FAR, or a total of 653,400 buildable feet. There are very few parcels of this size and scope within the Urban Core with this much density.
The owner is an industrial holding firm with no history of development in Nashville. The parcel previously sold at a 1.4m/acre land basis in 2018.
With Apex Riverstone being purchased across the street for $2m/acre in 2021, there may be upside to partner or purchase the land from this owner. The project has only applied for a straight re-zone, no site plan yet, so there is plenty of opportunity for the rest of the team, civil engineers, contractors, etc. to be selected should a development come to fruition.
With all of MetroCenter an Opportunity Zone, the owner may be gearing up to sell or develop by 2028, after the 10-year holding period.
Project Snapshot | |
Project Name / Address | Great Circle Road Mixed-Use Rezoning | 220, 230 & 240 Great Circle Rd., Nashville, TN 37228 LINK |
Developer / Sponsor | Berkeley Partners Christian Bruno, Director, Asset Management; [email protected] |
Applicant / Architect | Centric Architecture (Justin Lowe, Principal; 615-385-9600; [email protected]) |
Council District | 02 — CM Kyonzté Toombs |
School Board District | 05 — TK Fayne |
Project Type | Rezoning (IWD → MUG-NS) for future mixed-use redevelopment |
Size / Scale | 15.07 acres, north of Vantage Way |
Status | Application submitted 9/9/25; Planning Commission hearing set for 10/23/25 |
Community Plan | District Employment Center (North Nashville policy area) |
Notable Approvals / Incentives | None yet; eligibility for Metro incentives possible |
Last Sale | 07/16/2018; $21,120,332 |
Opportunity Highlights
🏗️ For Developers & Investors
Rezoning could unlock hundreds of units or a mixed-use play.
✏️ Architects
Centric is fronting entitlement and likely to secure design work.
If the land trades, there may be an opening for a new project team.
📐 Civil Engineers
No civil firm assigned yet.
Early rezoning stage = open lane for site plan work.
🔨 Contractors
No firm assigned, Expect demand for firms with podium, wrap, and five-story residential experience.
🏢 Brokers
Given the lack of trades for 7 years, there is likely an opportunity for a broker to step in.
Byran Fort and Frank Thomasson of CBRE have the property up for lease now at 18.50 per foot. They would be in prime contention to win an investment sales bid, but they’re typically on the office and industrial side rather than multifamily or mixed-use.
Strong opening to position as market expert for multifamily/mixed-use land sales.
💰 Lenders
Opportunity for land financing (if site sells) or vertical financing once entitlement is secured.
Owner Contact – Great Circle Road Rezoning
Entity / Owner
Name: BPAZ Holdings 6, LLC
Parent Company: Berkeley Partners
Address: 1111 Broadway, Ste. 1670, Oakland, CA 94607
Phone: 617-970-6615 (cell)
Email: [email protected]
Primary Contact
Name: Christian Bruno
Title: Director, Asset Management – Berkeley Partners
Role: Oversees leasing, operations, property management and performance of industrial assets in Florida, Georgia, Tennessee and Texas. Lead contact for BPAZ Holdings’ Great Circle Road property.
Professional Background
Berkeley Partners: Director of Asset Management. Manages portfolio performance across multiple southern U.S. markets.
AIC Industrial: Rose to Director of Asset Management, managed $1B AUM across the southern U.S., leading a team of Asset Managers and Lease Administrators.
VVA Project and Cost Managers: Tenant Rep. Construction Manager. Managed projects across the U.S. for multiple clients.
CDM Smith: Assistant Manager, Corporate Facilities Planning. Administered real estate portfolio of 125+ office locations.
Education
Bachelor’s Degree in Business Administration, Northeastern University
Owner Profile
Founded in 2005, Berkeley Partners is a vertically integrated real estate investment firm.
Corporate Offices in Oakland, CA; Dallas, TX; Boston, MA
250 light industrial investments since 2005. They own and manage over 11 million square feet of light industrial real estate.
Business / Market Strategy
Asset class: Light industrial assets, defined by them as buildings up to ~250,000 square feet. Those include last-mile warehouses, multi-tenant smaller industrial parks, light manufacturing, small distribution, etc.
Market selection: They invest in “growth and gateway markets” across the U.S. Their strategy involves both top-down (market selection) and bottom-up (asset level underwriting) analysis.
Operations: They are vertically integrated — owning/investing, and also handling property management and fund management. They manage occupancy, tenant relationships, maintenance etc.
Portfolio & Examples
Over 250 light industrial investments since 2005.
11+ million square feet under management in their light industrial portfolio.
Examples:
• Multi-tenant light industrial/flex buildings, small bay warehouses.
• Single tenant warehouses.Operate in many states / market areas via their four offices. Two properties in Nashville.
📬 Stay in the Game
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Email the City Scout team at [email protected]
P.S.
Want to learn more about Nashville? Check out our latest zoning report at https://www.trycityscout.com/nashville-scouting-report/