BWE has arranged a $42.5 million refinancing for the Baggage Building, a Class A mixed-use office and retail asset with a long-established presence in Nashville. The financing recapitalizes the historic property, with DZL serving as the sponsor. BWE’s Nick Harb led the effort to secure the new loan, which was sourced from a regional bank and structured with an interest-only payment period.
The Baggage Building is located at 111 10th Avenue South and totals approximately 61,000 square feet. The property combines office and retail space, supported by associated parking, positioning it as a mixed-use destination within Nashville’s urban core. Its configuration is designed to accommodate both workplace and street-level retail uses within a single historic structure.
Constructed between 1898 and 1900, the building was originally developed as part of the Louisville and Nashville Railroad terminal complex. In its early years, the facility handled passenger luggage and freight, reflecting its role as a key support building for the rail network. Over time, the property has transitioned from its industrial railroad function to contemporary office and retail use, while maintaining its historic character.
The Baggage Building sits adjacent to the historic Cummins Station complex, placing it near the heart of Nashville’s urban core and in close proximity to The Gulch. This location ties the asset to one of the city’s most active mixed-use districts, with connectivity to downtown and surrounding urban neighborhoods. The property’s historic rail-era origins and current Class A positioning highlight its evolution within a changing urban landscape.
The interest-only loan from a regional bank provides the sponsor with a refinanced capital structure backed by a stabilized, historically significant asset. While specific loan terms beyond the interest-only feature were not disclosed, the transaction underscores continued lender engagement with well-located mixed-use properties that blend office and retail uses in prominent urban corridors.
