Royalty Exchange, a firm that offers an online marketplace to buy and sell music royalties, has opened an office in “Music City.”

The Raleigh company’s new office is located in “The Gulch,” a business and entertainment district in downtown Nashville, Tenn.

Royalty Exchange, launched in 2011, has developed an online auction platform that enables artists, buyers and sellers to cash in on music rights. The new Nashville site joins is the third regional office for the Royalty Exchange. The company also has offices in New York and Los Angeles.

Industry veteran Preston Sullivan will lead the new Nashville location as vice president of east coast sales and acquisitions. Sullivan’s 35 years in the music, entertainment and technology includes work as a musician and producer and starting and running entrepreneurial ventures in Nashville and Los Angeles. In 1997, Sullivan co-founded the online startup, which became Streamlogics, a company in webcasting and streaming video. Sullivan led global business development for Streamlogics, which was acquired by Thomson Reuters in 2009.

Sullivan was most recently senior director at Nashville-based Global Eyes Entertainment, working alongside his wife, Global Eyes founder Ramona E. Simmons.

“We are very lucky to add Preston Sullivan to the Royalty Exchange team,” Sean Peace, Royalty Exchange founder and CEO said in a statement. “His remarkable range of experience will be invaluable to our company, our clients, and our future development.”