Nashville CRE Week in Review: Week of Dec. 18

Nashville CRE Links

1. 2011′s Top Reads: Development — Nashville Post (link)
2. Developers eye 12 South apartments — Tennessean (link)
3. H.G. Hill Realty, Southeast Venture partner on 12 South project — Nashville Business Journal (link)
4. H.G. Hill, Southeast Venture team up in 12South — Nashville Post (link)
5. Spring Hill shopping center sells for $31M — Nashville Post (link)

H.G. Hill Realty & Southeast Venture to Build Mixed Use Building in 12 South Neighborhood

The multi-family and retail project will be developed through a joint venture between the two local commercial real estate firms

We are pleased to announce today that H.G. Hill Realty Company and Southeast Venture have purchased 0.82 acres in the 12 South neighborhood from Middle Tennessee Roofing Co., Inc., and plan to design, develop and lease a mixed use, retail, multi-family building on the site at 2310 12^th Ave. S.

Located next to 12 South Taproom and Grill, the new building will be a mixed use development comprised of 67 luxury rental apartments and 4,200-square-feet ground floor retail.

The addition of high-end apartments and retail space will fill a much-needed niche in the 12 South neighborhood. We expect construction to begin on the project in April 2012, with units being ready for occupancy in spring 2013.

Windham Professionals

You may have seen the news that Windham Professionals is building a new regional headquarters in Hendersonville’s Indian Lake development, but you probably didn’t know that Southeast Venture is architect on the project.

The project is a 24,000-square-foot call center. The building is a one-story, steel frame with brick and stucco exterior, and is expected to achieve LEED certification.

Windham Elevation Rendering

It will house 350 phone operators and corporate staff, and create about 100 new jobs.

 

Welcome Ashley Bishop to the Southeast Venture Team

Welcome Ashley Bishop, who has joined us as a broker and CCIM candidate.

Ashley’s extensive experience in brokerage and development in both residential and commercial real estate makes him an ideal addition to our brokerage team.

With 15 years of industry experience, Ashley most recently worked at Retail Property Management, Inc., where he served as a broker and development manager since 2006.

At Southeast Venture, Ashley will specialize in multi-family and retail properties, offering services in both leasing and sales, in addition to market analysis, site selection and land sales.

HealthSpring Phase II Underway

HealthSpring MetroCenter Site Plan

We are pleased to announce that HealthSpring, a leading Medicare Advantage plan, has executed a lease for Phase II of its MetroCenter office campus.

The 75,000-square-feet, one-story building at 530 Great Circle Road will be built under the terms of the existing long-term commitment HealthSpring signed in 2010, and is where the company plans to consolidate employees from two of the three buildings the company currently occupies in MetroCenter. We broke ground on Phase I of development in last September.

Phases I and II of the project total 175,000-square-feet of office space and 997 parking spaces. The development sits on 21.10 acres overlooking Amulet Lake.

Phase II construction will be designed for general office use. The building will be a mirror image of Phase I. A connecting courtyard between the two buildings will serve as an inviting public space where employees can gather for lunch and meetings.

Phase I of development is slated to be complete in July, with Phase II construction completing May 2012. Once finished, less than 50 acres of MetroCenter’s 650 total usable acreage will remain undeveloped.

With the completion of this project, we will have developed approximately 450,000-square-feet of office space in MetroCenter within the last six years.

More Pictures From Our 30th Anniversary Party

Even though we were able to share a sampling of photos from our 30th Anniversary Party last month, we wanted to make sure that we shared all 65+ photos with you.

Whether you were able to attend our anniversary party or not, we appreciate your support of Southeast Venture over the years. You can check out the photos here.

Our May 12 celebration was a great success, thank you to our friends and associates who have made it all possible.

Southeast Venture in the Nashville Business Journal

The Nashville Business Journal recently ran a great piece on Southeast Venture.

The article includes an interview with Principal Wood Caldwell, during which he credits Southeast Venture’s diversification and management structure for its ability to persevere during the firm’s 30 year history.

To view a PDF of the article, follow the link below.

No debt, new services keep broker afloat

1700 Midtown Wins Development Award

1700 Midtown

The Nashville ULI chapter recently honored 1700 Midtown with an “Excellence in Development” award.

The State Street and 17^th Avenue apartment building was developed by Bristol Development Group. We designed the architecture for the 170-unit, two four-story buildings. Project partners also included Hodgson & Douglas, Doster Construction Company, Barge Cauthen & Associates Inc., Smith Seckman Reid Inc., Sterling Engineering and Anderson Design Studio.

The ULI panel of judges described the 1700 Midtown project as setting “the design trend of future reinvestment in the area.”

Other honored projects were 12^th and Paris, Franklin Police headquarters, Hotel Indigo, Piedmont Natural Gas operations center, the Sawtooth Building, Terrazzo and Westhaven.

ULI judged projects based on their design, land use, contribution to and reflection of the neighborhood, their use of a public/private partnership, environmental sensitivity and financial viability.

Judges for the awards were Richard Rosan, president of Urban Land Institute; William Gilchrist, director of place-based planning for the City of New Orleans; and Richard Ward, vice president of Zimmer Real Estate Services.

1700 Midtown

1700 Midtown courtyard

1700 Midtown exterior

1700 Midtown aerial

Ground Breaking This Week For Our First LEED Building

Construction started this week on the expansion of Chadwell Elementary at 321 Port Drive in Madison T.N.

Not only will the 9,000-square-foot expansion add two kindergarten classes, expand the existing cafeteria, triple the size of the library and add a teachers’ workroom to the building. But, it will also be the first LEED project for Southeast Venture.

The project’s LEED silver classification falls within the mayor’s mandate that all future development within the Metro Nashville school district be LEED certified.

We’re excited to take our first (and certainly not our last) step into green design.

The existing school is 42,605-square-feet, with original buildings from 1955 and 1958. Additions were added in 1988 and 2005, when a gym was added to the facilities

The finished project will be roughly 52,000-square-feet with a 437-student capacity.

TG Constructors, Inc. will head up construction. Gaius Overton from Southeast Venture led the architecture and design of the project. Our engineers came from EMC Structural Engineers, P.C., Envision Advantage, LLC and Barge Cauthen & Associates also consulted on the project.

Construction is expected to take 10 months. Check back here for updates on the project.

Nashville Comes Together

photo courtesy of oheatherrx, stock.xchng

Over a century ago, the eastern and western United States came together when a golden spike joined two railroads in Utah to commemorate the joining of the Central Pacific and Union Pacific railroads – creating the first transcontinental railroad across our nation.

A similar thing happened yesterday morning in Nashville, and the results may be just as significant for Nashville as completing the transcontinental railroad was for America: This morning Mayor Karl Dean and other city officials officially broke ground for the 28^th/31^st Avenue Connector. When completed, this bridge over the railroad tracks behind HCA will close a rift between North and West Nashville that has needed closing for more than 40 years.

For years, Senior Southeast Venture Broker Gilbert Smith suggested the idea of a 28^th/31^st connector to every government official, elected or staff, every policy making board, every university, every Hospital owner and operator, every developer, every land owner, every architect and engineer, every civic organization, every business organization, every associate and family member that would listen.

It was Mayor Karl Dean and his team who finally made this all possible, with Gilbert assisting in negotiating the land sale. Mayor Dean personally thanked Gilbert for this contribution during his remarks this morning to the 200+ people who gathered to celebrate the groundbreaking. Southeast Venture is honored to have been a part of this historic development.

“It’s unusual to get such a large crowd for a groundbreaking, and the fact that such as large crowd – from both North and West Nashville – was there this morning is a great testament to how important this project is, and how far Nashville has come as toward becoming a truly inclusive community,” Gilbert said.