An affiliate of LBX Investments has acquired Stateline, a mixed-use retail and office development in West Nashville’s The Nations neighborhood. The Nashville Business Journal reported that the buyer paid $37.5 million for the 3.42-acre property, which totals about 95,000 square feet of space. The project is located at 5300 Centennial Blvd. and represents a conversion of a former industrial building into a multi-tenant commercial asset.
Vintage South was the seller in the recent transaction. The firm originally purchased the property in 2020 for $6.5 million, before repositioning it into a mixed-use development. Following the conversion, the building now accommodates a mix of street-level retail uses and office space, reflecting a shift away from its prior industrial use. The change in use has allowed the property to attract a range of local and specialized tenants.
Stateline currently houses several retail and service-oriented businesses, including Glitz Nashville dress shop, Carbon Performance, and Rhoe Pilates. In addition to these storefronts, the project includes several office tenants, creating a diversified income stream across multiple uses within the same footprint. The tenant mix positions the asset as a neighborhood-serving commercial hub in The Nations, which has seen ongoing investment and redevelopment activity.
The buyer, through an affiliate of LBX Investments, is adding Stateline to a broader investment strategy that spans multiple property types. According to the company, LBX focuses on both equity and debt investments and targets opportunities that can provide current cash flow, with potential for appreciation in certain cases. The firm invests across several sectors, including retail and multifamily, though specific plans for Stateline were not detailed in the source material.
The transaction highlights continued capital flow into mixed-use assets that combine retail and office components in established urban neighborhoods. With its repositioning from an industrial facility into a fully leased or partially leased commercial property hosting multiple retail and office users, Stateline illustrates how redevelopment can create institutional-quality product from older industrial stock. While the article did not disclose information such as cap rate, financing terms, or business plans post-acquisition, the closing of the sale underscores sustained investor interest in well-located, income-producing mixed-use properties in Nashville.
