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.
In addition to Rich's Redneck Riviera, Lower Broadway is also home to venues owned by and bearing the names of Dierks Bentley, Luke Bryan, Alan Jackson and more.
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