Details are emerging of a mixed-use building, Phoenix-based Alliance Residential Co. is targeting the Berry Hill property, which has long been home to food company Mrs. Grissom’s Salads Inc.
According to a document submitted to the city of Berry Hill, the future four-story building will rise to 2500 Bransford Avenue and offer 218 one-bedroom and studio units and 84 two-bedroom residences. In addition, approximately 5,000 square feet of retail space will face Bransford Avenue.
Called Broadstone Berry Hill, the 302-unit building will include a structured parking lot with 437 spaces and two courtyards (one with a swimming pool).
Nashville-based Catalyst Design Group handles the engineering and land-planning tasks, with Atlanta-based Dynamik Design the architect, the document notes.
The 3.25-acre property offers three industrial buildings and is owned by Ms. Grissom CEO Kenneth Funger.
Stephen Keller, the Alliance’s director of development, declined to say when the company was considering buying the property or innovating.
As the Job reported in 2021, the eventual sale price was expected to be around $15 million ($100 per square foot based on square footage), according to multiple sources. It is not certain that this price has changed.
The property is partly in District 4 of Metro Council Member Robert Swope.
Mrs. Grissom’s began operations in 1955, its products being, at the height of production, available at several grocery store chains in the Southeast. In April 2021, Funger sold the brand and most of the manufacturing to locally based Chairman’s Foods, with a move of all production to Chairman’s factory originally planned for this past spring. However, the business still appears to be operating on the site.
Ms. Grissom’s Salads Realty Inc. ownership of the three-plot site dates back in part to 1959, according to Metro records. Funger now owns the collective property and had enlisted, as Job previously reported, Shane Douglas and Patrick Inglis, executive vice president/partner and senior vice president, respectively, of Colliers International Nashville to manage marketing and sales efforts.
Mrs. Grissom was long run by Grace Grissom and her husband Herbert, who initially teamed up with old friends from Knoxville in an existing small business. Grace Grissom then led the company until 2005, overseeing the addition of product lines and a distribution network spanning 25 states.
Alliance is now renting apartments in its eight-story Broadstone SoBro, which sits on a 1.48-acre property at 804 Fourth Ave. S., across from the 3rd & Lindsley Concert Hall. He is also undertaking a seven-story residential building at One City in Midtown.
The company’s 342-unit building at The Nations opened in late 2021. It should be noted that Alliance sold this property to Atlanta-based multi-family investment and management firm Cortland Partners for approximately $128.6 million. in February (read here).
Alliance sold its Broadstone 8South building in Melrose in 2018 for $76.73 million to a Los Angeles company. Similarly, the company sold Broadstone Stockyards for $105 million in November 2020 to an entity affiliated with New York-based international alternative investment management firm The Blackstone Group Inc. Alliance sold Broadstone Gulch for nearly $81 million. dollars in December 2019 to Security Properties.
Alliance’s first project in Nashville was undertaken at 1100 Third Ave. N. in Germantown. He sold that structure (now called IMT Germantown) in 2018 for around $73 million to a California entity, according to Metro records.
Learn more about local Alliance efforts here.