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VOL. 45 | NO. 18 | Friday, April 30, 2021

TDEC honors 10 parks for ‘Go Green’ projects

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The Tennessee Department of Environment and Conservation has recognized 10 of the 56 Tennessee State Parks with platinum level status for their performance in environmental sustainability in the state’s Go Green With Us program.

Eligible sustainability practices are divided into nine categories including: Education and outreach, energy efficiency, green offices, habitat and species protection, guest services, maintenance procedures, recycling and waste, transportation and water conservation.

Platinum parks in Middle Tennessee include:

• Bicentennial Capitol Mall State Park, which installed lights on timers in public bathrooms, created a Monarch waystation, installed recycled rubber speedbumps, installed new planters with native species, installed an efficient, timed irrigation system, composted wood chips and grass clippings and participated in the Tennessee State Parks Honey Project, which installs honey bee hives.

• Radnor Lake State Park, which used recycled and repurposed building materials throughout the park for structures such as the Lake Trail Observation Deck and the aviary viewing decks, hosted multiple cleanups year-round to remove litter and debris from waterways and natural areas, accepted more than 700 Christmas trees from surrounding communities to be recycled into mulch used on park trails, upgraded to energy-efficient LED lighting throughout the park and recycled 9,000-plus pounds of mixed materials.

Others state parks achieving platinum status are Burgess Falls, Cumberland Trail, Cummins Falls, Johnsonville State Park, Nathan Bedford Forrest State Park, Paris Landing State Park, Rock Island and Standing Stone

Hickory Hollow property sells for $18M

Global real estate investment firm Mishorim has announced the sale of its Hickory Hollow shopping center in Antioch for $18M.

The property, purchased in 2018 by the Mishorim Gold group, together with Mark Gold, for approximately $12.1M, is built on a 560,000 square foot lot, with almost 145,000 square feet of commercial space. The two main tenants currently leasing spaces are the Kroger supermarket chain and Citi Trends retail clothing chain.

During Mishorim Gold’s ownership of the property, the company has taken several improvement measures which have resulted in an increase from a 77% occupancy rate at purchase, to a current 100% occupancy rate.

The property’s NOI has increased during this time from approximately $1M to almost $1.4M, selling at almost 8% yield.

ReturnQueen jumps into Nashville market

ReturnQueen, a shopping return service app, has launched in Nashville.

The Nashville location grows the company footprint to a total of 3,031 ZIP codes nationwide.

“This is a key time for a thriving city and a place where we naturally need to bring our services to quickly,” says Melissa Sprich, vice president of Growth about the Nashville market. “Besides real estate and the strong economy, the rich southern comfort culture of their music and arts, entertainment offerings, growing food scene, and move to more of a cosmopolitan city makes this location spot-on for our services.”

ReturnQueen is contactless service, created to be the solution to the biggest pain points in the shopping cycle including, printing labels, packaging items, waiting in line, driving to the post office and handling receipts.

NuSachi, Perfect Plant partner on Gummies

Nashville’s Perfect Plant Hemp Company has secured regional exclusivity to market and sell NuSachi’s Full Spectrum Gourmet Gummies. NuSachi, also based in Nashville, produces the product.

Perfect Plant Hemp is a premier hemp dispensary focused on providing the highest quality CBD products, education and customer service.

Perfect Plant 10:1 CBD:THC Gummies are Full Spectrum Formula Fortified with CBC and CBG and infused with hemp-derived Delta 9 THC. Gourmet gummies from Perfect Plant are designed to enhance mind, body and spirit.

BlueBird to host Power of the Purse May 19

The Power of the Purse benefit for The Women’s Fund will be held virtually 11:30 a.m.-1 p.m. May 19 at The Bluebird Café.

Songwriters Aimee Mayo, RaeLynn, Regina McCrary and host Jennifer Vickery Smith will share stories that have shaped their success.

Since its inception in 1994, The Women’s Fund has made grants totaling more than $2.07 million to more than 144 nonprofits and organizations supporting women and girls in Middle Tennessee.

Visit POP2021.com to support The Women’s Fund and purchase tickets to the Virtually Gathering of Power of the Purse.

Mitsubishi Electric US joins Nashville boom

The Elevator and Escalator Division of Mitsubishi Electric US, Inc. is expanding to Nashville, opening a new office and embarking on a project alongside Giarratana LLC.

Nashville developer Tony Giarratana selected Mitsubishi Electric US to provide elevator systems in two of his latest developments, Alcove at 900 Church Street and Prime at 801 Church Street.

The elevators will be equipped with the Mitsubishi Electric Sigma AI 2200C Destination Oriented Allocation System which works seamlessly with Mitsubishi Electric’s touch-free elevator call system smartphone application. With the application’s intuitive, user-friendly interface, residents will have the ability to call an elevator wirelessly before arriving at the elevator lobby.

EBM launches LightSPECWest

Nashville-based Endeavor Business Media has launched LightSPEC West, a new West Coast lighting education and solutions event for buyers and specifiers of commercial, architectural and high-end decorative lighting products, controls and technologies.

“When we heard that the parent company of LightShow West was in liquidation, our lighting team immediately recognized the gap in the market that Endeavor could fill,’’ says Chris Ferrell, chief executive officer of Endeavor Business Media. “The lighting and events teams have been working on a plan over the last several months to fill that gap and we are excited to announce that LightSPEC West is the result.’’

By leveraging Endeavor’s leading B2B media brands in relevant industries such as buildings and construction, schools and universities, hospitals, airports and facilities management, LightSPEC West is primely positioned to build a strong exhibitor and attendee base to provide a unique environment for information exchange and new business development.

Paymogy invests in Invoice Stream

Nashville’s Paymogy, LLC, a firm that advises, owns and operates SaaS businesses and startups, has completed an investment in cloud-based accounts payable automation platform provider, Invoice Stream, Inc.

Commensurate with closing the investment the two companies also entered into a formal management agreement whereby Paymogy will serve as operating partner for the business, with Paymogy founder, Vaden Landers, stepping into the role of interim CEO.

“Eliminating paper from the bill presentment and payment process, and reducing the costs associated therewith, has long been on the minds of businesses of all shapes and sizes,’’ Landers says. “The Covid-19 pandemic has brought with it a heightened level of attention and focus to this topic with the CDC’s recommendation to discontinue the handling of paper. Invoice Stream can be installed in hours with no implementation costs or IT resources, providing a network through which buyers and suppliers are able to conduct business in a fully paperless environment.”

The company also announced it has hired Efthymios Gkaitatzis to lead corporate development as it enters the launch and expansion phase of the business.

Alto closes on $17M Series A funding

Nashville-based fintech company Alto Solutions, Inc., a self-directed IRA platform making it easier for individuals to access and invest in alternative assets using their retirement funds, has closed on a $17 million Series A funding round led by Unusual Ventures.

Additional participation came from existing investors Moment Ventures, Acrew Capital, and Alpha Edison, and strategic investments from Carta, Coinbase Ventures, Franklin Templeton, New York Life Ventures and Stone Ridge Holdings Group.

Alto will use the investment to accelerate the development of new products, further enhance its existing capabilities, and expand its product and engineering teams.

“Opening a self-directed IRA to invest in alternative assets like startups, real estate or cryptocurrency should be easy,” says Eric Satz, founder and CEO of Alto. “I founded Alto after spending weeks of frustration trying to navigate the outdated manual processes used by legacy self-directed IRA custodians, not to mention their endless fee menus. There’s a lot of friction and unnecessary costs in the self-directed retirement industry, and Alto is on a mission to eliminate them. This funding round will rapidly accelerate the implementation of our vision and product roadmap.”

Sarah Leary, co-founder of Nextdoor and partner of Unusual Ventures will join Alto’s board of directors.

Meritage opens Gallatin townhomes community

Meritage Homes opened Newmans Crossing, a new community of townhomes in Gallatin.

The homes are designed to appeal to first-time homebuyers. Meritage was also the builder of townhomes in the nearby master-planned Foxland Harbor community.

Newmans Crossing’s townhomes start in the high $200,000s and are approximately 1,650 to 1,810 square feet. The community is located off Long Hollow Pike and Big Station Camp Boulevard

“We’re excited to offer first-time buyers in Gallatin much more than a no-frills entry-level home by incorporating Meritage’s industry-leading energy efficiency and other upgraded features at an affordable price,” says Dave Bulloch, division president for Meritage Homes in Nashville. “In addition to being zoned for top-rated Station Camp Schools, Newmans Crossing is situated in a prime location, next door to a new Publix, the Station Camp Greenway, and offers easy access to local retail, dining and entertainment.”

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