Booming retailer moves HQ to Nashville; Local company lands $2.7B deal; more

A popular online women’s boutique is moving its headquarters to Nashville.

Pink Lily signed a lease in a Music Row office building for its first office in Music City, according to a permit filed with Metro.

The lease is around 15,000 square feet in Panattoni’s 1030 Music Row office building, according to Sarah Pettigrew, managing director at JLL who leads leasing for the building.

Pink Lily, led by husband-and-wife duo Chris and Tori Gerbig, was founded in Bowling Green, Kentucky. The online boutique started nearly ten years ago offering a range of apparel, footwear and accessories.

The company is one of the fastest-growing online retailers in the U.S., with 300 employees, 15,000 products in its inventory and $120 million in annual revenue, according to Digital Commerce 360.

“Ten years ago, I started Pink Lily from the ground up with a vision and a whole lot of passion. Today, I’m beyond excited to announce our next big step — we’re opening a headquarters in Nashville, Tennessee,” Tori Gerbig said in a recent Instagram post. "This move is a huge milestone for us as we continue to grow and create new opportunities.”

Read the full story.

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$2.7B deal for Nashville's fastest-growing company

The fastest-growing company in Nashville will soon be owned by a public company in Indianapolis.

Elevance Health (NYSE: ELV) announced its deal to buy CareBridge in its Oct. 17 earnings call. Elevance is a health insurance provider better known by its previous name, Anthem Inc.

Terms of the deal, which was first reported by Forbes, were not disclosed. However, the Business Journal can report that the acquisition is valued at $2.7 billion, according to a source with knowledge of the deal.

According to Business Journal research, CareBridge posted $2.6 billion in revenue in 2023. With revenue growth of 21,566.7% since 2020, the company was No. 1 on our most recent list of Nashville’s fastest-growing private companies. ?|? Read more

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Luxury golf community slated for Middle Tennessee

There’s a new luxury community headed to Spring Hill.

Storied Development, LLC and Wheelock Street Capital , a Connecticut-based real estate investment firm, recently announced plans for Firefly, a gated club community, according to a news release.

Located 30 miles south of Nashville on more than 700 acres, Firefly will feature 407 single-family homes, an 18-hole golf course and a 9-hole short course.

“The topography of Middle Tennessee is a perfect canvas for a really interesting, challenging golf course,” Andrew Green said in the release. “I think members are going to be excited by what we have planned.”? |? Read more

In other news, a popular strip club site sells; a Nashville company names their second CEO this year; high-profile firm makes the move to WeHo; and a prime listing tests a hot neighborhood.

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Preds unveil 25-year plan for arena

Sean Henry believes the most iconic buildings aren’t the ones where championships are won or that host the best concerts. It’s the ones that are multigenerational.?

It’s the arenas where your grandparents met or saw their first game, the Nashville Predators CEO said at a Sports Authority meeting Oct. 17.?

“That’s what we want to create,” Henry said, talking about the Predators’ Bridgestone Arena, which opened in 1996 in the heart of downtown Nashville.

CAA ICON presented a long-term capital needs assessment of Bridgestone Arena to the Sports Authority, detailing the current state of the facility, its deficiencies and future capital expenditures required over the next 25 years to keep Bridgestone Arena safe and competitive through 2049.? |? Here's what those plans look like (and their estimated cost)

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Second restaurant planned for McCabe Pub site

Sylvan Park is getting a savory and sweet addition.

Robbie Wilson and Emily Perry Wilson, the husband-and-wife team?opening Lion’s Share?in the former McCabe Pub space, are opening a second restaurant next door.

They plan to convert the overflow parking area into a dog-friendly artificial lawn with lights and multicolored picnic tables, anchored by a small white building that will be home to SuperNormal.

“It’s just going to be a place to gather. When you’re walking your dog, you could go have an ice cream. You can have a beer with your friends,” Robbie Wilson told the Business Journal. “We spend a lot of time in that area and it’s just so pedestrian friendly.” |? Read more

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This Weekly Edition was compiled by?Alison Nash. Questions? Comments? Concerns??Reach out!?

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