Oracle Buys Nashville Land From GBT Realty for $60 Million

Oracle has deepened its investment in the East Bank, acquiring a River North property for $60 million.

The purchase from GBT Realty adds to Oracle’s growing real estate holdings in the area, where the tech giant is planning a $1.35 billion headquarters campus, the Nashville Business Journal reported.

Oracle acquired two parcels at 0 and 2140 Waterside Drive a few months after Brentwood-based GBT unveiled plans for a tower featuring residential, hotel, retail and coworking spaces at the site. The sale price is about the same as what GBT paid for the 3.7-acre site in 2021, the outlet said.

Oracle’s acquisition further cements its commitment to Nashville, where it made waves in 2021 with a $253.7 million purchase of over 65 acres for its future riverfront campus. Its latest acquisition is between the planned HQ site and the Landings at River North, MRP Realty’s $220 million mixed-use project delivered in 2023. The River North district has been transformed through decades of strategic acquisitions by developer Don Allen, who sold parcels to Oracle, GBT and MRP Realty for a combined $333 million.

Despite its significant land investments and receiving the largest economic development incentives in city and state history, construction on Oracle’s $1.35 billion campus has yet to commence, with no start date announced. Its ambitious plans include making Nashville a major employment hub, with incentives tied to bringing 8,500 jobs to the city by 2031.

Oracle’s expansion extends beyond land acquisitions. The company recently increased its downtown office space by 60,000 square feet, subleasing two floors in a Capitol View office complex from HealthStream, bringing its total Nashville office presence to over 200,000 square feet.

Oracle Chairman Larry Ellison designated the future East Bank campus as the company’s global headquarters last year, tapping architect Norman Foster to design the project on 70 acres Oracle purchased for $277 million.

—Rachel Stone