Alan Jackson - Above Photo by D Dipasupil/Getty Images
LAUREN LAFFER • Sounds Like Nashville
Nashville’s Lower Broadway is expanding in a big way! Not only will Dierks Bentleyopen up his bar Whiskey Row and John Rich open his bar Redneck Riviera, but Alan Jackson will also get in on the action by opening his own honky tonk, AJ’s Good Time Bar, at 421 Broadway.
Jackson recently purchased the three-story, 6,000 square foot property that housed The Wheel and The Wheel Cigar Bar. The businesses closed Saturday night (Aug. 21).
“Lower Broadway commands the highest prices because it’s simply the bullseye heart of the number one tourist destination in the region,” said Lance Bloom, a senior associate with CBRE in Nashville (quote via The Tennessean). “The business that these stores and bars do is staggering.”
AJ’s Good Time Bar will spend the next several months under construction as Jackson updates the current location. There are also plans to add a rooftop patio and elevator to the building before the bar reopens later this year.
The venue is Jackson’s second business venture on Lower Broadway. He is a partner in Acme Feed & Seed, a bar, eatery and concert venue, located at 101 Broadway.
Alan Jackson's Good Time Bar coming to Lower Broadway
Getahn Ward, firstname.lastname@example.org 4:16 p.m. CDT August 23, 2016
Country singer pays record price for honky-tonk The Wheel's former home at 421 Broadway
- AJ's Good Time Bar would be Jackson's latest business venture in downtown Nashville.
- He's a partner in the Acme Feed & Seed bar, eatery and concert venue on Lower Broadway.
- The $925-per-square-foot price Jackson paid for 421 Broadway sets a new record price for a Lower Broadway building.
Country singer Alan Jackson has paid a record price for the Lower Broadway building most recently home to honky tonk The Wheel with plans to open a new bar named after his 2008 song "Good Time."
Jackson bought the three-story, 6,000-square-foot building at 421 Broadway along with The Wheel and The Wheel Cigar Bar businesses that closed last weekend for $5.75 million.
Jackson plans to open AJ's Good Time Bar later this year after renovations to the building.
“I always wanted to own a honky tonk that plays real country music on Broadway that I could put my name on,” he said.
Jackson paid Robert and Libbi McCullough Lee roughly $925-per-square-foot for 421 Broadway, marking a new record price for a Lower Broadway building.
The previous record was what Atlanta-based The Ardent Companies paid late last year for three retail buildings and a parking lot at the corner of Third Avenue North and Broadway, including the FedEx Office & Print Ship Center and Mike’s Ice Cream locations.
"Lower Broadway commands the highest prices because it's simply the bullseye heart of the number one tourist destination in the region," said Lance Bloom, a senior associate with CBRE in Nashville. "The business that these stores and bars do is staggering."
AJ's Good Time Bar represents Jackson's latest business venture in downtown Nashville. He's a partner in Acme Feed & Seed, a bar, eatery and concert venue on Lower Broadway.
Jackson plans to add a third-floor bar and rooftop patio plus an elevator to the building at 421 Broadway.
The building is next door to the former home of Full Moon Saloon and Troubadours Karaoke Bar at 423 Broadway, which restaurateur Mark Clark just leased from the Lees with plans to open a Mellow Mushroom pizza restaurant with a rooftop patio.
Seth Harlan of Robin Realty Co. LLC represented the Lees in selling 421 Broadway. Broker Radley Hendrixson of Colliers International Nashville represented Jackson's 421 Broadway LLC buying entity.