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Nashville s oldest enclosed shopping center The Nashville Arcade opened in splendor in 1903 as the city s first enclosed shopping center, decorated with flags, bunting and Japanese lanterns, according to a 1956 article in The Tennessean. Folks came from miles around to parade and rubber-neck, to receive free souvenirs many stores offered, the article states. The project was developed by Daniel C. Buntin, a local businessman, designed by local architecture firm Thompson, Gibel and Asmus and built by the Edgefield and Nashville Manufacturing Company. Enclosed shopping centers were gaining popularity in northern cities, and Nashville was experiencing a boom in development, innovation and creativity, according to Davidson County Historian Carole Bucy. Wholesale and retail stores on 2nd Ave. began to shift Nashville s retail center away from the public square, and the Nashville Arcade cemented that trend. ....
As the Post reported Friday, local real estate industry veteran Rob Lowe and various silent investors closed on the purchase at last week’s end. Nashville-based FirstBank has provided a loan of $22,560,000, according to the Register of Deeds document. The seller was an entity affiliated with Arcade Company. Listed on the National Register of Historic Places since 1973, The Arcade opened in 1902 and offers an address of 65 Arcade Alley. Spanning Fourth and Fifth avenues north, it was Nashville s first “shopping center,” as it replaced what was called Overton Alley as the city’s retail commerce epicenter. Stephen Crawford, a broker with Nashville-based Southeast Venture, represented the buyers. The seller did not have a broker. ....