Crye-Leike expands into Bellevue to support area growth

Brentwood, Tenn. – Crye-Leike, Realtors is expanding its branch offices into Bellevue to meet the exploding neighborhood growth in Cheatham and Dickson counties, reports Harold E. Crye, chief executive officer of Crye-Leike, Inc.

A 9,400 square foot commercial building at 224 Old Hickory Blvd. has been purchased by Crye to accommodate a new Bellevue branch location for Crye-Leike, Realtors. The property was owned by Belle Forest Associates I, LLC in Nashville and sold for $710,000, $75 a square foot, on June 30, 2000. Bellevue, a part of the greater metropolitan Nashville area, is a community located on the west side of Davidson County and Interstate 40.

The Bellevue office will be the first of several expansion offices Crye-Leike plans to open to the west of Nashville, says Tom Kimbrough, vice president and general manager of Crye-Leike of Nashville, Inc.

“Crye-Leike is committed to serving home buyers and sellers in all of Middle Tennessee. We intend to position ourselves to support the impact on land development that is anticipated to result from the completion of Interstate 840 in the western counties.”

“Our new Bellevue branch office provides a more central location for our company in west Nashville, says Crye. “Crye-Leike sales associates will now be able to better serve clients from Cheatham County to Belle Meade. Previously, our Green Hills and Brentwood branch offices were the farthest west our offices were located.” said Crye.

Renovations are expected to begin in late July with a projected opening date by the end of September, reports Keith Rosenblum, president of Crye-Leike Commercial Sales & Leasing in Brentwood, Tenn. who is the procuring agent and construction manager for the project. Space planning and office design for the project is Jack Rainey of Rainey Contract Design in Memphis, Tenn.

The mortgage lender for the sale was First Union National Bank. Premier Title & Escrow, LLC in Green Hills handled the title and closing.

Many years have gone by since the first real estate office appeared in Bellevue, ERA Adams, Realtors. Crye-Leike will be the area’s second. But why so few?

Real estate companies have been discouraged from establishing branch offices in the Bellevue area because of two key reasons, notes Rosenblum. “Commercial land is expensive in Bellevue: $10 to $12 per square foot or $500,000 to $600,000 an acre. Secondly, it is almost impossible to get zoning changes. So, real estate companies are forced to search for an existing building in that area that meets their needs and has already met zoning requirements.”

Upon completion of Crye-Leike’s Bellevue location, Crye-Leike will have 23 branch offices in the Middle Tennessee area, notes Kimbrough, “potentially increasing the total number of Crye-Leike sales associates to well over 1,000.” Offices are currently located in Brentwood, Clarksville, Columbia, Franklin, Goodlettsville, Green Hills, Hendersonville, Hermitage, Lebanon, Mt. Juliet, Murfreesboro, Priest Lake, Smyrna, southeast Nashville and Springfield.

Crye-Leike (www.crye-leike.com) , the largest real estate firm in Tennessee and the Midsouth, has over 2,100 sales associates who operate in 50 branch offices, located in 20 counties and six regional areas, Arkansas, Chattanooga, Johnson City, Memphis, Mississippi and Nashville. Crye-Leike also has affiliate offices in Oxford and Tupelo, Miss. and Monteagle, Tenn. As a privately held company with over 480 employees, it attained record sales of $3.3 billion corporatewide in 1999. Nationally, Crye-Leike is ranked No. 10 among the nation’s top 500 residential real estate brokerage firms and No. 3 in among the nation’s largest 161 privately owned independent real estate companies, as reported in May 2000 by REAL Trends Magazine.

 

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