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Southwest Value Partners and Anschutz Entertainment Group (AEG) have announced the name of the Nashville Yards entertainment venue.
The 4,500-capacity venue will be named The Pinnacle, sponsored by Nashville-based Pinnacle Financial Partners (Nasdaq: PNFP), Cary Mack, managing partner of Southwest Value Partners, announced at an event this morning.
"Today's announcement is a milestone next step in the development of our mixed-used district and music venue," Mack said at the announcement. "The Pinnacle represents an expansion of our robust partnership with Pinnacle, which will be relocating its headquarters to Nashville Yards later this year."
Current plans for the Nashville Yards performance facility feature a main lobby area with commercial space on the first floor, and the venue’s stage and balcony will span over the second and third floors, according to Metro records. The music venue will offer multiple bars as well as an open rooftop guests can access.
The Pinnacle at Nashville Yards.
Last week, Southwest Value Partners was issued a construction permit tied to the music venue. Construction is expected to finish this year, with the first show at The Pinnacle in early 2025.
Pinnacle is the largest bank in Nashville, with $19.49 billion in local deposits. The company is moving its headquarters from downtown to Nashville Yards, where it will anchor a 35-story office tower.
"You've got AEG and CAA all together here. I think that cements this as the epicenter of music business here in Nashville," Pinnacle CEO Terry Turner said at the event. "I'm honored to be a partner."
Southwest Value Partners and AEG are partnering for a 2.46 million-square-foot mixed-use entertainment district in the Nashville Yards development. Latest plans for the entertainment district include:
- 12-story, 456,000-square-foot building with a movie theater, creative office space, second-level big-box store and ground-floor retail;
- 4,500-person, 125,800-square-foot event venue;
- Two residential towers of 34 and 35 stories, which will collectively house 696 units, as well as meeting rooms, food and drink outlets, retail, a gym and a pool; and
- Pedestrian “paseo” between the four main buildings, lined with outdoor seating, dining and landscaping.
In 2018, AEG paid $44 million for 4 acres of land owned by the chief developer of Nashville Yards, the San Diego-based real estate company Southwest Value Partners. The AEG site is bordered by Church Street, Commerce Street and 10th Avenue North.
In October, Southwest Value Partners and AEG fetched a $211.97 million construction loan tied to the music venue and the development’s creative office building, which will be anchored by the Nashville office of Creative Artists Agency (CAA).
Nashville Yards is one of the city’s most transformative projects. Situated at an entrance to downtown, the 18-acre development includes two Amazon towers, the Grand Hyatt, the Union Station hotel, a future entertainment district and more. The project's total price tag is estimated to exceed $1 billion.
