Joint Venture to Develop 145-Acre Mixed-Use Project in Metro Nashville

by Hayden Spiess

Franklin, Tenn. — Toro Development Co. (TDC), Highwoods Properties Inc. and Ignite Realty Partners (IRP) have partnered to develop Ovation, a 145-acre mixed-use project located in Franklin, roughly 20 miles south of Nashville. Highwoods will deliver the office component of the project, with TDC developing a 60-acre parcel comprising retail, multifamily residential and hospitality uses. TDC’s team is led by Mark Toro, John Kelley, Richard Munger, Vicky Boyce and Carla Cox. Mars Petcare’s North American headquarters — which is owned and was developed by Highwoods and features collaborative office space and pet-friendly amenities including a dog park and doggie daycare — occupies 224,000 square feet at the site. Open Realty Advisors LLC, led by Mark Masinter, will manage leasing for the development.

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