Oracle Land Buy Brings its Nashville Investment to $379M

Oracle is expanding its holdings in East Bank, dropping another $42 million on a development site for its planned $1.35 billion campus.

Larry Ellison’s cloud computing and software company bought the 2.73-acre site at 2161 Waterside Drive from a joint venture of MRP Realty and Creek Lane Capital, the Nashville Business Journal reported, citing Metro records. The price is almost $15.4 million per acre.

The sellers had planned to use the land for a second phase of the Landings at River North, which was to include a 433-unit residential building with retail. The $220 million first phase of the Landings opened last year.

Oracle Land Buy Brings its Nashville Investment to $379M — Rendering of Oracle’s East Bank campus (Oracle Corp)

The acquisition pushes Oracle’s East Bank presence to more than 70 acres and its real estate investment in the area to $379 million. It’s the tech giant’s latest play in the neighborhood where it plans to build a sprawling office campus employing 8,500 people by 2031.

Oracle has been on a steady buying spree since its $253.7 million land purchase nearly four years ago. Just last month, the company bought a 3.7-acre site from GBT Realty for $60 million — the same price GBT paid in 2021 — shelving plans for a major hotel and residential project.

Despite the growing land portfolio, Oracle has yet to start construction on its headquarters campus, and the timeline is unclear. Meanwhile, it has quietly expanded its downtown Nashville office presence, recently subleasing 60,000 square feet at Capitol View from HealthStream. That brings its local office leases to over 200,000 square feet.

Oracle Chairman Larry Ellison has previously said the East Bank campus will serve as the company’s future world headquarters.

—Rachel Stone