Icahn-Owned Nashville Scrapyard Sells for $245M

A longtime scrapyard on Nashville’s East Bank has been a thorn in the side of city officials. It’s an eyesore in the middle of a swath of land that is expected to be developed into a modern, vibrant part of the town.

Now it’s been sold and the planning can begin. The Nashville Business Journal reports that local real estate investor David Byerly headed up a team of dozens of investors, who collectively paid $245 million for the 47-acre property, which is reported to be one of Nashville’s biggest land sales. Famed billionaire Carl Icahn was the seller.

The riverfront scrap operation sits at the southern end of a roughly 550-acre area whose northern end is the River North area, where Oracle Corp. plans a tech office campus on 70 acres. Several significant mixed-use developments sit in between, including the new Tennessee Titans stadium project and The Fallon Co.’s master East Bank development.

The trio of Bryan Fort, Frank Thomasson and Ryan Coulter of CBRE represented Icahn Enterprises in the deal.