Essex Development Acquires Germantown Property in Record-Breaking Deal

Nashville-based Essex Development has purchased a Germantown property for a record-setting price of $12.95 million, equivalent to approximately $258 per square foot. The property, previously owned by FrontFour Real Ventures LLC, is located at 300 Jefferson St. and 1121 Third Ave. N. This acquisition follows Essex Development’s recent purchase of the Rutledge Hill property for $20 million. Cottingham Capital Partners LLC, a joint venture partner of FrontFour Real Ventures LLC, will now focus on redeveloping a separate site in Germantown for a mixed-use building with high-end condominiums and commercial space. Approximately 80 residential units are expected in the upcoming project, aimed at delivering boutique luxury living in Germantown and surrounding neighborhoods. Stay tuned for more updates on this exciting development!