[Updated]: Vanderbilt Purchases Sony Music Nashville Headquarters

[Updated, July 2]: According to the Nashville Business Journal, Vanderbilt University paid $12.1 million on Wednesday (July 2) to acquire Sony Music Nashville’s headquarters on Music Row.

[Original post, June 27]:

The sale of the Sony Music Nashville building, located at 1400 18th Ave. S., is expected to close as early as Monday (6/30). Though not official, Vanderbilt University is the likely buyer of the building.

The Vanderbilt Center for Science Outreach main office is already located in the historic Sony Building.

The Tennessean and Nashville Business Journal have reported Sony Music Nashville is looking to move its label offices from its current location. According to their reports, the label is looking at space in a yet-to-be built 15-story tower planned by Eakin Partners, to be located at 1201 Demonbreun in the Gulch.

William Morris Endeavor Nashville previously announced it will relocate its approximately 80 Nashville staff members into the new Gulch tower at 1201 Demonbreun in 2016.

MusicRow reached out to Sony Music Nashville but they declined to comment.

Music Row-area properties have been a hot topic in the past several weeks. This week, singer-songwriter and producer Ben Folds wrote an open letter opposing the sale of Grand Victor Sound, located at 30 Music Square West, which is reportedly being sold to a commercial real estate developer. SESAC is planning a $20 million building on Music Row. The 110,000-square-foot space will be located at 35, 37, 39 and 41 Music Sq. E. SESAC is expected to use about 35,000 square feet of the complex and lease the remainder. Completion is scheduled for 2015.In April, Virgin Hotels announced plans for a luxury, 240-room hotel to open at One Music Row in 2016. It will be Virgin Hotels’ third U.S. property.