Adams and Reese Partner and commercial real estate attorney Russell Harwell represented the sellers in the transaction of the former May Hosiery Mill property in the Wedgewood-Houston neighborhood, which includes the Fort Houston shared workspace for artisans. The transaction was written about in The Tennessean article, "Fort Houston Property Sells for $6.5 Million."
May Hosiery Partnership LLC paid $6.5 million for the 4.05-acre site with 175,000 square feet in 12 buildings. Robert N. Moore Jr. and Earl Beasley Jr. were the sellers.
With a wood shop, print shop, bike shop and sign maker at Fort Houston, plus art and photo studios, design spaces, and drapery and furniture makers among tenants, the property is key to the Wedgewood-Houston area's emergence as an arts district.
"The term contrarian investor comes to mind," said Harwell. "Both my clients felt it was an appropriate time for an ownership transition."
The triangular-shaped property borders Chestnut, Houston and Brown streets. It includes the former Mill's four-story administration building on Chestnut Street and the 10,000-square-foot Fort Houston building behind it, which faces Houston Street. The addresses are 425, 426, 427 and 429 Chestnut St., 500 and 510 Houston St. and 0 Brown St.