News Room
Tower Investments To Open SoBro OfficeBy Press ReleaseJuly 10, 2007 Leaders in downtown redevelopment cement local presence
NASHVILLE, Tenn. - Tower Investments, LLC, the multi-state real estate investment and development company with significant holdings and projects in Nashville's urban core and surrounding counties, is cementing its local presence by opening an office at 411 Broadway in downtown. This marks the first office that Tower has opened outside of its headquarters in Northern California.
"Physically opening an office here signifies our long-term commitment to this region," senior vice president Alex Marks says. "We're bullish on Nashville and see it as one of the most vibrant growth and development opportunities in the country." Read More |
Developers visit GalesburgBy Kevin Sampier - The Peoria Journal StarJune 23, 2007 Business owners, Realtors, brokers tour former Maytag plant
Galesburg - Economic development leaders invited businesses to Galesburg on Friday in the hope they would help fill several million square feet of available space.
"It's one thing for me to talk about a (1 million square-foot) building," said Linda Utsinger, vice president of business development for the Galesburg Regional Economic Development Association. "It's another thing for people to actually see it."
GREDA, Tower Investments LLC., Industrial Realty Group and several other organizations invited real estate agents, brokers and business owners to the former Maytag plant on Monmouth Boulevard. They hoped to attract businesses that would lease space in the building.
Tower Investments and Industrial Realty Group own the 1.3-million square-foot former Maytag plant, the 850,000 square-foot Maytag warehouse and the nearly 1 million square-foot building that once housed Butler Manufacturing. Read More |
Industrial centers in spotlightBy John R. Pulliam - The Galesburg Register-MailJune 23, 2007 Tours of Maytag, Butler sites promote possibilities
GALESBURG - Many cities offer a spring festival of homes, having open houses for potential buyers. Galesburg had a similar event Friday, but the buildings were a bit larger. Galesburg Days featured an open house for brokers and Realtors at the former Maytag and Butler Mfg. facilities here.
The tours of the former Maytag factory, distribution center and the 900,000-square-foot Butler Mfg. complex continue today for the public. Anyone interested in touring the buildings that Tower Investments and Industrial Realty Group hope to bring back to life can do so from 10 a.m. to 2 p.m. Tours can begin at any building.
Peter Yanson, senior vice president for Quadrelle Realty Services, and Matt Marks, senior vice president, Tower Investments LLC, opened Friday's event with a PowerPoint presentation. Yanson said QRS acts as the property management agency for Tower and IRG.
Marks said Tower has more than 100 active real estate projects in 14 states. Yanson said IRG has 70 projects in about 25 states. While Tower Investments is involved in everything from residential to commercial, retail and hotel projects, Yanson said IRG is "basically strictly industrial rehabilitation in a big way." Read More |
Developers market former Galesburg Maytag, Butler plantsBy John David - WQAD TV, MolineJune 22, 2007 GALESBURG, Illinois - Real estate developers and Galesburg leaders are getting a first look inside the massive former Maytag plant. Now owned by a California-based company, this is a chance to find new uses for the facility.
"The beauty is that we can accomodate big users to small users," said Matt Marks, Tower Investments.
The general public will get a rare chance to go inside the former plant, distribution center and Butler Manufacturing on Saturday. Tours will run from 10 a.m. until 2 p.m. at all three locations.
When the Maytag plant closed nearly three years ago, most of the remaining 1,600 jobs were wiped out and replaced at a plant in Reynosa, Mexico. After decades of refrigerator production, the bustle of busy workers is contrasted now with wide open spaces. Read More |
Business column: Investors from California buy big slice of Nashville riverfrontBy Chas Sisk - The TennesseanApril 30, 2007 Marks family's philosophy behind involvement in redevelopment incorporates a 'simple formula'
It's easy to rhapsodize about riverfront development. But the Marks family doesn't seem like the type to rhapsodize.
To them, the decision to take the plunge on Nashville's waterfront was about cold, hard arithmetic: rising land prices in California plus a good business climate in Tennessee plus a little bit of water equals economic opportunity.
It's a simple formula. So simple that Alex Marks, the family member responsible for residential development, finds it difficult to explain it without seeming glib.
The family came to Nashville "because you have a river," Alex Marks said. "It will sell itself."
Earlier this month, the family's firm, Tower Investments LLC, bought a majority stake in the $250 million Cumberland Yacht Harbor marina-and-condo project. It also negotiated an option on 28 acres owned by the descendants of the founders of the Steiner-Liff scrap yard, the industrial metal recycler now owned by PSC Metals Inc. Read More |
Horse country's exclusive residential development springs up on rural fringeBy Linda Bryant - Nashville Business JournalApril 20, 2007 Exclusive residential communities for horse lovers are emerging on the rural fringes of Middle Tennessee just beyond high-growth suburban areas.
Construction of several homes is underway at Beechwood Plantation in the unincorporated Leiper's Fork area of Williamson County. The second phase of the four-phased, 500-acre project was launched earlier this month.
Huge estate tracts with price tags from $319,000 to $750,000 - ranging from 5. 9 acres to 41 acres - are features of the private development.
About 6 miles of riding trails are available and residents are encouraged to build their own barns, says Alex Marks, senior vice president of Tower Land Co., the developer.
Tower plans to build six private residential communities where horses are welcome on 2,200 acres in Williamson, Maury and Fentress counties, Marks says. Read More |
First home in equestrian-friendly development begins to take shape
April 20, 2007 LEIPER'S FORK COMMUNITY ? Beechwood Plantation doesn't do anything small. It has miles of riding trails. Miles of rolling hills and hidden valleys. And miles to go. But at least the first mile, or more accurately, the first milestone, has already been reached.
"We have the first property going up right now. The footings are poured and the vertical walls will be going up next. And we have sold six lots in phase one and two already," said Ray Helmsworth, an agent with RANN Realty in Franklin who is selling the lots in the Leiper's Fork development.
He says Beechwood Plantation is on the verge of much more building activity.
"We are getting the roads completed. Soon, all the lots will be accessible for the builders. It is an exciting time here," Helmsworth says. Read More |
Marks family buys stake in Cumberland Yacht projectBy Chas Sisk - The TennesseanApril 19, 2007 Teams with two other investors to take majority interest.
An investment company controlled by a California ranching family has bought a majority interest in the Cumberland Yacht Harbor project in Donelson. Tower Investments LLC, the real estate partnership owned by the Marks family, has joined with Hardaway Group Inc. of Nashville and Parkes Development Group LLC of Franklin in buying stakes in the $250 million project. The Markses' previous investments include buying buildings on Lower Broadway and land in the SoBro neighborhood. The family is also developing the Beechwood Plantation equestrian community in Leiper's Fork. Varallo Investment Properties LLC, an investment company run by project developer Jim Varallo, will retain a minority stake. Terms were not disclosed. Varallo has been working since 2001 on the Cumberland Yacht Harbor project, which would combine 181 condos with shops, restaurants and a 13.5-acre harbor at the mouth of Mill Creek.
Read More |
Tower Investments wraps up SoBro property buyBy Nashville Business JournalJanuary 18, 2007 A family-owned real estate firm from California has finalized the purchase of a prime parcel in SoBro.
Tower Investments paid nearly $14.8 million for the 5.67-acre site that is just south of the Gaylord Entertainment Center. The land is currently home to a surface parking lot, but supporters of a new convention center have zeroed in on the area as a prime spot for the proposed facility.
The majority owner of Woodland, Calif.-based Tower is Stephen Marks, and five of his children also work for the company, which owns property in 13 states and Canada.
In addition to the parking lot south of the Gaylord, Tower has snapped up some prominent properties on Broadway, including the Merchant's restaurant building and the building that houses Big River Grille & Brewing Works. Read More |
Downtown parcel sells for $15MBy William Williams - The City PaperJanuary 12, 2007 A prominent piece of SoBro property exchanged ownership hands Thursday in a transaction that is believed to have garnered the single-largest gross sales price for raw land in downtown Nashville.
Arena Properties LLC, comprised of Nashville businessmen Mark Bloom, Larry Papel and Ronnie Scott (among others), sold the 5.6-acre parcel for approximately $15 million to Woodland, Calif.-based Tower Investments LLC. The land, currently used as surface parking that is managed by Central Parking Inc., is bordered by Fifth Avenue on the east, Sixth Avenue on the west, Demonbreun Street on the north and Franklin Street on the south.
The roughly $15 million figure represents about $60 per square foot. By comparison, most raw land (that is, land on which sits no building) in either the Central Business District or SoBro typically commands between $40 and $80 per foot. Read More |
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