NASHVILLE, TN (CelebrityAccess) — Venerable Nashville rock club Exit/In is reportedly under contract to be sold to real estate developer AJ Capital Partners.
According to Tennessee Lookout, the terms of the club’s sale, which was first listed last month, have not been disclosed.
AJ Capital Partners is a real estate developer that operates the Graduate hotel chain and boasts of ‘conquering space and giving it meaning.’
Long a fixture of Nashville’s nightlife, The Exit/In first opened its doors in 1971, catering to everything from bluegrass to stand-up comedy. However, by the 1980s, the club had honed its niche in the market to cater to rock fans and expanded from a limited capacity of 200 to make room for 500 music fans.
More recently, the club has been operated by Chris Telisha Cobb, who, according to the Lookout, hoped to purchase the property from its current owners, the Nash and Anthony families.
The Cobbs told the Lookout that they have asked AJ Capital to resell them the club and have launched a GoFundMe campaign in a bid to raise money to save the venue.
“We’re told the money was the same and (the Nash and Anthony families’) decision was based on a grudge held over the Save the Rock Block campaign, which successfully prevented a budget hotel development,” Chris Cobb told the Lookout. “We’ve asked the firm that won the bid to sell us the property, so we can preserve Exit/In and ensure its able to continue serving Nashville’s creative working class. Contributions to our purchase fund can be made here: https://gofund.me/c3f1e2e2. Should our bid fail, all money raised will be donated to the National Independent Venue Association and Music Venue Alliance Nashville.”