Dolly Parton has long poured her time and talents into Nashville, and now she’s doing it again.
The Dollywood Company, a joint venture between Parton and Herschend Enterprises, has acquired a downtown office and retail building located at 211 Commerce Street in Nashville, the company has confirmed to Billboard.
“Since the pandemic, commercial real estate is becoming an opportunity,” Parton said in a statement. “I strongly believe in the future of Nashville and feel this is a great investment.”
Terms of the sale were not disclosed. Though The Dollywood Company declined to state its plans for the building, the Nashville Business Journal, which first reported the news, says “multiple sources” told the outlet the building would become a hotel.
According to a property listing, the 11-story, Class A building comprises approximately 233,300 square feet and a 400-plus space parking garage. The building was constructed in 2000 and renovated last year. Black Tap Craft Burgers and Beer is currently at this location. At one time, the building housed the Nashville-area Chamber of Commerce.
The property will join other celebrity-affiliated properties that have opened in Music City over the past decade involving such bold-faced names as Alan Jackson, Luke Bryan, Florida Georgia Line, Jason Aldean, Dierks Bentley and Kid Rock. Garth Brooks‘ Friends in Low Places Bar & Honky-Tonk recently launched a soft opening, while both Luke Combs and Eric Church have music venues and/or restaurants in the works in the city.