California firm sets record with Metrocenter apartment buy

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By Drew Hutchinson  –  Reporter, Nashville Business Journal

Sep 28, 2021 

A firm from California just smashed Metrocenter's per-unit apartment sales record.

G.W. Williams Co., a privately held real estate company in San Mateo, spent $74.26 million on The Duke apartments in Metrocenter. The purchase price is equal to $295,947 per unit, well above the area's previous record of $260,000 in 2019, but below Nashville's overall record of at least $367,310, according to data from Colliers International. Brett Kingman and Russ Oldham of CBRE brokered the deal, according to a press release.

“Metrocenter is undergoing a resurgence, benefitting from the submarket’s relative affordability and convenient access to the major demand drivers surrounding downtown,” said Oldham, who is an executive vice president at CBRE......

Oracle's $65M grant approved, locking in the largest jobs commitment in state history

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By Adam Sichko  –  Senior Reporter, Nashville Business Journal

Sep 7, 2021

Newly disclosed state records reveal exactly how many jobs Oracle Corp. committed to create in Nashville in exchange for a $65 million incentive, cementing the recruitment as the largest economic development deal in Tennessee history.

Oracle (NYSE: ORCL) pledged 5,989 jobs at its forthcoming waterfront office campus on the East Bank of the Cumberland River, according to documents made public at the Sept. 7 meeting of the state Funding Board. The board unanimously approved the $65 million grant; board approval is a necessary step before a state grant can become official. Oracle will invest $1.35 billion to create its campus, according to the newly public state records. That's a larger and more specific price tag than the $1.2 billion mark company representatives cited earlier this year, noting that Oracle "expected to exceed" that threshold....

TN pledging $60M for electric vehicle battery plant at General Motors' Spring Hill campus

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By Adam Sichko  –  Senior Reporter, Nashville Business Journal

Jun 1, 2021

State officials staked a near-record jobs grant to win an all-time economic development deal for Middle Tennessee, according to newly released data. The state is awarding $60 million to a joint venture involving General Motors Co. (NYSE: GM) and LG Chem, which will make batteries for electric vehicles under the name Ultium Cells. The two companies are investing $2.37 billion to build a 2.8 million-square-foot plant in Spring Hill. The building will rise on part of GM's 2,000-acre factory campus there, about 35 miles south of Nashville. That price tag makes the Ultium deal, announced in April, the largest business investment in state history. GM broke its own record that it had set only six months prior, when revealing a $1.7 billion overhaul of its Spring Hill plant to begin producing the Cadillac Lyriq and other electric-powered vehicles. Combined, the two announcements hurtle GM and Spring Hill headlong into an industrywide race to seize a commanding position in electric vehicle sales....