Mathews Co. becomes St. Cloud Corner sole owner

10/31/2014 -

Mathews Co. becomes St. Cloud Corner sole owner

Tennessean, by Getahn Ward 

Published 2:25 p.m. CT Oct. 31, 2014

Elmington Capital Group LLC sold its majority ownership stake in downtown's St. Cloud Corner office building for $2.42 million.

The buyer was a partnership The Mathews Co. created, which already had co-owned the building that has Puckett's Grocery & Restaurant and Blue Coast Burrito as ground-level retail tenants.

Elmington's exit of its ownership interest comes three years after the company and the Mathews-affiliated partnership acquired St. Cloud Corner for $3 million from an entity led by Nashville developer Tony Giarratana. The 75,000-square-foot building at 500 Church St. is 91 percent occupied with digital agency Paramore and litigation support services company DSi among the tenants.

The five-story historic St. Cloud Corner was built in 1870.

I have a rule about real estate: there’s a time to buy and a time to sell.  The trick is knowing when to do that.

You just have to have feel about it.” – Bob Mathews