Harpeth True Value Under New Ownership
FRANKLIN, TN – Rick English, a long time resident of Franklin, Tennessee, has partnered with South Florida based TriOut Advisory Group to acquire a 3-acre parcel located at 203 Downs Blvd which currently holds a 23,700 SF True Value showroom and warehouse.
Rick English, owner of Rick English & Associates, Inc. a development and real estate firm based in Tennessee, along with partner TriOut Advisory Group have acquired 203 Downs Blvd. – a parcel sitting on the intersection of Downs Blvd. and Columbia Ave. Sitting in the heart of Franklin, the parcel serves as Store Building land and currently houses a 23,000 SF True Value. The surrounding area of the acquisition has a population density of about 95,000 residents in the 5-mile radius, with an expected growth of over 17% by 2027. The city is also seeing a demographic shift as of recently, with the average age being 39 years old and average household income sitting at $101,000. A Franklin resident since 1997, Rick English has deeply invested in properties in Tennessee, owning and developing various real estate from commercial to residential in Franklin over a career of 20 years. He acquired the property partnered with TriOut with no intention of replacing the current tenant, as he has strong ties to the community and appreciates its rich history and tradition.
The True Value Hardware Store currently occupying the lot is a staple of the neighborhood, and with the influx of non-native residents moving into Franklin, TriOut and Rick English are set on preserving the landmark store. This Harpeth True Value Hardware is locally owned and has been for years, stating “we’re here to serve our community… whether you’re a pro or taking on a DIY home improvement project for the first time, we’re right here in your neighborhood.” This staple piece of the Franklin community is here to stay, the real estate is simply under new, locally advised ownership.
TriOut takes great pride in immersing itself within the Franklin community, as this acquisition will make for the sixth commercial property owned in Tennessee and the fourth property in the Franklin/Nashville area- along with Westhaven Town-center, 300 Shingle Way and South Plaza. TriOut takes great pride in serving the great state of Tennessee and continuously immersing itself within the communities of the properties owned. With boots-on-the-ground property managers and close relationships to vendors and tenants it has successfully brought sprawling businesses and enhanced the properties in these areas.
TriOut and Rick English are ecstatic to own this property and continue to allow the landmark True Value to better serve the community of Franklin! TriOut Principal Mike Outlaw stated, “We are excited that we get to further the opportunity to entrench ourselves in the wonderful community of Franklin.” The new ownership group is has closed on the property in late May of 2022.
Join us in celebrating this new chapter in the historic Harpeth True Value and celebrate the Grand Re-opening with us on September 10th starting at 11 A.M at the Franklin store location.
About TriOut Advisory
TriOut Advisory Group is a South Florida based Commercial Real Estate Investment Company, a subsidiary of TriOut Family Companies. With a focus on investment strategy and management, property acquisitions and portfolio expansion, and procuring healthy and transparent client/partner relationships, TriOut Advisory Group possesses a portfolio of over 1.8 Million SF and over 20+ commercial properties and brands across 11 states. Its mission is to “Provide Quality, professional commercial real estate advice to well-minded investors”, while its vision being to continue expansion through sound acquisitions and foster new relationships with clients, investors and partners.