Equitable Property Company purchases 44 acres to develop Sewart’s Landing, a mixed-use district in Smyrna, Tennessee
JLL has been selected to lead retail leasing for the project and has already secured Starbucks, Wawa, Jonathan’s Grille and more
NASHVILLE, Tenn. (February 8, 2024) – JLL today announces that Equitable Property Company has purchased 44 acres to develop Sewart’s Landing, a new mixed-use destination in Smyrna, Tennessee. The master plan, which was created in close partnership with Smyrna, includes two medical office buildings including up to 400,000-square-feet of space, up to 250,000 square feet of street-level retail, a 240-key hotel and 75 for-sale townhomes. JLL Senior Associate Kipper Worthington will lead leasing efforts alongside Land Deleot, founder of Equitable Property Company.
“For far too long, Rutherford County has needed a place like Sewart’s Landing, and we’re proud to bring a project of this scale to life for the community,” said Deleot. “Our vision combines a thoughtfully planned mix of uses with world-class design, creating an urban-inspired destination intended for shopping, dining, working, living and everything in between. For two and half years, we’ve worked in lockstep with Smyrna to develop the master plan, and we’re ready to start executing against it.”
Located at the corner of Sam Ridley Parkway and Highway 41, the master plan for Sewart’s Landing is designed around a pedestrian-focused street grid. Sewart’s Landing will feature vibrant streetscapes, jewel box retail, community greenspace and a walking trail that surrounds the development. JLL has already secured premier tenants for the project’s first phase, including Starbucks, Wawa, Jonathan’s Grille, a national grocer, and many others. Breaking ground this March, Phase I of Sewart’s Landing is set to deliver in Q1 2025.
“Sewart’s Landing will bring an unparalleled retail experience to Smyrna,” said JLL’s Worthington. “We are placing a strategic focus on designing pedestrian-friendly streets with dynamic ground-floor retail and vibrant restaurant patios. We are already experiencing tremendous interest from a variety of retail users. All but one outparcel is spoken for, and we are in negotiations with 10 other tenants for the 50,000 square feet of single and multi-tenant retail included in Phase I. We look forward to sharing the additional lineup of brands coming to Sewart’s Landing with the community soon.”
Smyrna is located within 25 miles of Nashville and has seen tremendous growth in recent years following a surge in Sun Belt migrations. With a daytime population of 52,273 and an average household income of $94,071, Smyrna is poised for continued growth and new residents in the coming years. Notably, there are an additional 2,600 new residential units under development within close proximity to Sewart’s Landing. Smyrna also has access to an educated workforce and is home to one of the Motlow State Community College campuses.
Equitable Property Company purchased the land from Smyrna and has spent the past several years working closely with local government officials on rezoning and entitlements to ultimately determine the highest mix of uses for the site. In addition, Rutherford County approved a $26+ million TIF to support the development of Sewart’s Landing.
"In Smyrna, we continue to experience growth in the residential and commercial markets. We are excited to welcome the Sewart's Landing development, which will benefit our town with additional retail, dining, and housing opportunities. We look forward to welcoming and patronizing the businesses occupying the space," said Mayor Mary Esther Reed.
Founded by Deleot in 2009, Equitable Property Company is based in Nashville and features a highly specialized team of commercial real estate professionals known for its innovative approach to leasing, management and development. Equitable Property Company has assembled a world-class team to develop Stewarts Landing, including Fulmer Lucas as the civil engineer and Lowen + Associates as the architect. The land planning and entitlement process was led by Kiser Vogrin Design. Equitable Property Company purchased the land in partnership with Chapman Capital. JLL’s Worthington brokered the sale.
Deleot and Equitable Property Company would like to acknowledge the diligent efforts of the city staff., including but not limited, to Mayor Mary Esther Reed, City Manager Brian Hercules, City Attorney Jeff Peach, and City Engineer Charles King who have helped Sewart’s Landing progress to fruition.
To learn more about Sewart’s Landing, visit sewartslanding.com.
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 105,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.