John Rich Invests in Second Property on Nashville’s Lower Broadway
Add land baron to country star and restaurateur John Rich's business card. The Big & Rich member is teaming with Atlanta, Ga.-based company Ardent Commercial Real Estate to purchase and redevelop the Cotton-Eyed Joe building at 200 Broadway in downtown Nashville for use by a third party as another honky-tonk.
Nashville's Tennessean newspaper reports that the five-story building, currently anchored by a souvenir shop, will be available for investors interested in being next-door neighbors to Rich's own drinking and eating establishment, Redneck Riviera. Rich's venue is one of a number of celebrity-owned spots on the Music City party street.
"The Cotton-Eyed Joe building was really the last big building on Broadway that did not have entertainment," Rich tells the Tennessean. "It's been there a long time but is really underutilized. There's no better place to invest your money than downtown Nashville."
Ardent Commercial Real Estate has been a prime mover in the redevelopment of Lower Broadway in recent years. Per the Nashville Business Journal, the real estate investor has now spent around $100 million on the block of honky-tonks in less than five years. Bars now located in properties involved in Ardent purchases include the Valentine, Tequila Cowboy Bar & Grill and WannaB's Karaoke.
How Do All Those Celebrity Bars Stack Up?
Country Stars With Their Own Bars