Dolly Parton’s Dollywood Company Acquires Downtown Nashville Property
Dolly Parton is no stranger to new business ventures – from publishing to retail to hospitality, Dolly seems to have her hand in it all. In her latest investment, the Dollywood Company, a joint venture between Parton and Herschend Enterprises, has purchased an 11-story multi-use building in Downtown Nashville.
The property, located at 211 Commerce Street, has been previously used for office, retail, and restaurant space. Dolly acquired the building for $75 million and according to sources involved with the project, plans to convert the structure into a hotel.
The Dollywood Company says terms of the sale will not be disclosed and plans for the future of 211 Commerce will be shared as they materialize. Dolly said in a statement:
“Since the pandemic, commercial real estate is becoming an opportunity. I strongly believe in the future of Nashville and feel this is a great investment.”
According to a property listing, the approximately 233,300 sq. ft. Class A building was constructed in 2000 and renovated last year. At one time, the building housed the Nashville-area Chamber of Commerce.
Dolly Parton’s newest purchase is just steps from Nashville’s famous Broadway.
Dolly’s newly acquired property is just one block from Broadway in downtown Nashville – home to Music City’s famous honky tonks and live music venues. It is also adjacent to the AT&T Building, affectionately known as the “Batman Building,” a distinct and recognizable feature of the Nashville Skyline.
Over the past decade, there has been a noticeable increase in celebrity-affiliated properties that have opened in Nashville. Dolly Parton joins the likes of Alan Jackson, Luke Bryan, Florida Georgia Line, Jason Aldean, Dierks Bentley, and Kid Rock who have thriving businesses in the downtown area. Additionally, Garth Brooks‘ Friends in Low Places Bar recently launched a soft opening, while both Luke Combs and Eric Church have music venues and/or restaurants in the works in the city.
What do you think Dolly has up her sleeve? Whatever it is, we can’t wait to see it!