Category Archives: Development

Dimension at Mallory Park Phase II Finds First Tenant in Verus Healthcare

This press release was originally released on March 21, 2017.

Verus Healthcare Anchors Project

NASHVILLE, Tenn. March 21, 2017 – Southeast Venture announced today that Franklin-based Verus Healthcare has signed a lease to occupy 34,561 square feet of office space in the second phase of the project. The healthcare supply company is the first to lease space in the 63,236 square-foot project and plans to move into the space in August.

Mallory Park

“We are thrilled to have found a larger office space with a higher parking ratio that keeps us well-positioned within Brentwood/Cool Springs’ flourishing healthcare center. Our company’s growth necessitated that we move from our current space in Cool Springs in order to continue providing the same high level of care to our patients around the country,” said Rich Roberts, CEO of Verus Healthcare.

Mallory Par

Mallory Park

Dimension at Mallory Park was specifically designed to accommodate companies like Verus Healthcare who are looking for higher density office space.

“Verus Healthcare is a perfect fit for the office space in Mallory Park,” said Michael Finucane, principal at Southeast Venture. “The higher parking ratios present a different opportunity than what’s traditionally been available in the Brentwood/Cool Springs office market. For a company experiencing growth like Verus, this space easily allows them to put more people into less space.”

Mallory Park

Dimension at Mallory Park Phase I was leased in full to Quorum Healthcare Corporation and completed last fall.

About Southeast Venture:

Founded in 1981, Southeast Venture is a diversified commercial real estate and design services company guided by a mission of “Building Value by Valuing Relationships.” The firm provides and coordinates the delivery of brokerage, development, architectural and interior design and property management. This unique, comprehensive approach to commercial real estate offers a cost effective and efficient way of meeting its clients’ commercial real estate needs. For more information, visit SoutheastVenture.com, or find Southeast Venture on Twitter @SEVentureCRE.

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Southeast Venture Announces Large-Scale Mural at Silo Bend

This press release was originally released on March 23, 2017.

Australian artist to paint lifelike mural on 200-foot tall Silo

NASHVILLE, Tenn., March 23, 2017 – Today Southeast Venture, in conjunction with Councilwoman Mary Carolyn Roberts and Art Consultant Brian Greif, announced plans for a large-scale mural to be painted on the 200-foot-tall abandoned silo at the new mixed-use development, Silo Bend.

Australian artist Guido van Helten has been contracted to paint the mural. Van Helten is known for his large-scale, site-specific murals that feature monochromatic portraits and local elements.

Guido van Helten – Fort Smith, AR

“This mural will be one of Silo Bend’s defining features,” said Mary Carolyn Roberts, councilwoman for District 20. “The enormous painting will be seen from almost a mile away and will be representative of The Nations community. We’re very excited to work with Guido and look forward to seeing his mural unveiled.”

Van Helten’s work can be found across the globe, from Australia to the United Kingdom and from Iceland to Mexico. Before beginning his work, Van Helten invests time and effort in developing the concept for a location by visiting the site and learning about the area’s culture, traditions and people.

Guido van Helten – Brim Silos in Australia

“Van Helten is especially talented at capturing the emotions of his subjects,” said Brian Greif, art consultant and owner of 2:32 AM Projects. “He primarily uses a monochromatic color scheme and features images of local subjects to highlight the culture of the area. We’re thrilled to bring his work to Nashville and to The Nations community.”

Van Helten is scheduled to visit Nashville on May 8 when he will spend four to five days meeting with residents of The Nations, learning about the neighborhood and developing his concept. Once he begins, it will take approximately six days to complete the mural.

Guido van Helten – State of Mexico

To learn more about Van Helten and see his portfolio, visit http://www.widewalls.ch/artist/guido-van-helten/.

About Southeast Venture:

Founded in 1981, Southeast Venture is a diversified commercial real estate and design services company guided by a mission of “Building Value by Valuing Relationships.” The firm provides and coordinates the delivery of brokerage, development, architectural and interior design and property management. This unique, comprehensive approach to commercial real estate offers a cost effective and efficient way of meeting its clients’ commercial real estate needs. For more information, visit SoutheastVenture.com, or find Southeast Venture on Twitter @SEVentureCRE.

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Southeast Venture Breaks Ground on The Flats @ Silo Bend

This press release was originally released on March 23, 2017.

Councilwoman Mary Carolyn Roberts, Art Consultant Brian Greif and Other Dignitaries Participate in Groundbreaking Ceremony

NASHVILLE, Tenn., March 23, 2017 – Today, local and community officials joined together with Southeast Venture and their honored guests to officially break ground on The Flats @ Silo Bend, a mixed-use development within The Nations.

The Flats @ Silo Bend is the development’s flagship structure, a 193-unit apartment building. Also planned for the development’s 37.7-acre site are single-family homes, office space, retail buildings and other apartments.

Pictured from left to right: Eric McKinney, Bill DeCamp, Mary Carolyn Roberts, Tarek El Gammal, Ginny Caldwell, Iain Shriver

“This is an exciting milestone for The Nations community,” said Mary Carolyn Roberts, councilwoman for District 20. “After many months of preparation, we are excited to officially break ground on this development. We know the mixed-use space will be beneficial both for our neighborhood and the surrounding areas.”

Pictured from left to right: Art Consultant Brian Greif, Councilwoman Mary Carolyn Roberts, Southeast Venture Principal Cam Sorenson

Silo Bend is located at the intersection of Centennial Boulevard and New York Avenue and touches the southern bank of the Cumberland River. The development is named for the 200-foot-tall abandoned concrete grain silo that sits on the property and its location across from a bend of the Cumberland River.

“We’re looking forward to seeing this area transformed into a vibrant, appealing place to live, dine and shop,” said Wood Caldwell, principal at Southeast Venture. “With a prime location in West Nashville, we’re hoping to attract both Nashville natives and newcomers to the development’s variety of spaces.”

Rendering of The Flats @ Silo Bend

Also unveiled at the groundbreaking were plans to paint a large-scale, site-specific mural on the property’s 200-foot-tall abandoned silo. Art Consultant Brian Greif announced Australian artist Guido van Helten was selected for the project. Van Helten plans to visit Nashville in May to meet with residents, learn about The Nations and develop the concept for the mural.

Video footage shot with drones by Brian Siskind was featured before the ceremony and gave attendees an aerial view of the property. When it is completed, Silo Bend will offer 3,500 square feet of ground floor retail space and surface-level parking.

About Southeast Venture:

Founded in 1981, Southeast Venture is a diversified commercial real estate and design services company guided by a mission of “Building Value by Valuing Relationships.” The firm provides and coordinates the delivery of brokerage, development, architectural and interior design and property management. This unique, comprehensive approach to commercial real estate offers a cost effective and efficient way of meeting its clients’ commercial real estate needs. For more information, visit SoutheastVenture.com, or find Southeast Venture on Twitter @SEVentureCRE.

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New Mixed-Used Development in the Nations Neighborhood Takes Its Name from Landmark on Site

SEV horizontal logo

This press release was originally released on Oct. 20, 2016.

New Mixed-Used Development in the Nations Neighborhood Takes Its Name from Landmark on Site

New Name and Logo Introduced to Community During Light the Nations 615 Festival This Weekend
 Will Break Ground for First Building in Early 2017

NASHVILLE, Tenn., Oct. 20, 2016 – Southeast Venture, developers of a 37.7-acre mixed use real estate development on Centennial Boulevard in The Nation’s neighborhood, announced today the name of the project: Silo Bend.

“The first thing everyone notices about this property is the 200-foot-tall abandoned concrete grain silo in the middle of the site, which was used years ago by the Gillette Grain Company. It’s quite impressive. In fact, it is featured in a video series by artist Brian Siskind called ‘The Nations Life,’” said Southeast Venture Principal Wood Caldwell.

(To see the video series, search for ‘the nations life’ on YouTube or set your browser to https://www.youtube.com/watch?v=gp8ks048vDk. Video credit: Brian Siskind/Those Drones, LLC)

“The silo can be see from miles away – including from the upper floors of downtown buildings – and it is by far the tallest structure in The Nation’s neighborhood. The owner had planned to incorporate it into this development from the beginning, so it is natural that this landmark would be integral to the brand. In addition to using the word ‘silo’ in the name, the logomark is a line drawing of the silo,” Caldwell added. “The second word in the name refers to the fact that this development is across from a bend of the Cumberland River.”

The new name will be officially unveiled this Saturday at Light The Nations 615 festival, of which Silo Bend is a title sponsor. Running from 4 to 10 p.m., the event will take place on 51st Avenue between Georgia and Illinois avenues. It will feature local businesses, art, vendors, food trucks and live entertainment, including musical acts Kree Harrison, Moon and Forty-Two and Tommy Hans. To learn more, go to lightthenations615.com.

Centered at the intersection of Centennial Boulevard and New York Avenue, Silo Bend extends from Centennial to the southern bank of the Cumberland River. When complete, Silo Bend will include single-family homes, apartments and retail stores. The property is owned by R. Manuel Cenntennial.

Caldwell said he expects ground to be broken for the first building – a 193-unit apartment building – by the first quarter of 2017. Southeast Venture is architect for Silo Bend, Barge Cauthen & Associates is the civil engineer, Hodson Douglas is the landscape architect and RPM Transportation is providing the traffic analysis and transportation plan.

About Southeast Venture:

Founded in 1981, Southeast Venture is a diversified commercial real estate and design services company guided by a mission of “Building Value by Valuing Relationships.” The firm provides and coordinates the delivery of brokerage, development, architectural and interior design and property management. This unique, comprehensive approach to commercial real estate offers a cost effective and efficient way of meeting its clients’ commercial real estate needs. For more information, visit SoutheastVenture.com, or find Southeast Venture on Twitter @SEVentureCRE.

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New High Density Office Space in Mallory Park Alleviates Growing Employer Occupancy Costs

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This press release was originally released on Oct. 10, 2016.

New High Density Office Space in Mallory Park Alleviates Growing Employer Occupancy Costs

Higher parking ratio featured in completed Phase I project

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NASHVILLE, Tenn. Oct. 10, 2016 – Southeast Venture has announced the completion of the first phase of a high-density office complex in Brentwood’s Mallory Park. The 87,100-square-foot project at 1573 Mallory Lane is now home to Quorum Healthcare Corporation.  The building type is similar to the Healthspring/Cigna Health campus that Southeast Venture developed in Metro Center in 2010.

The Healthspring/Cigna Health complex ­– a 175,000-square-foot build-to-suit project – filled a need that more and more Middle Tennessee employers are facing today.  Finding office space that can accommodate higher parking densities.

 The solution, said Southeast Venture Principal Michael Finucane, is simple. “Put more people in less office space; however, to do that, buildings need to have more parking spaces.  To maximize the efficiency of our project we simply built more parking spaces.”

 This increase in office density has become increasingly prevalent since the recession, as business owners look for ways to lower occupancy costs per employee. Beginning with the Healthspring/Cigna Health project in Metro Center and now in Mallory Park, Southeast Venture is providing options to resolve this issue, he added.

 “We had tremendous success with our building in Metro Center so we wanted to take that same product to the Brentwood/Cool Springs market. We saw a real need for higher density office space that, quite frankly, did not exist in this market,” Finucane said.

 “Suburban office space typically has a parking ratio that is four parking spaces per 1,000 square feet of office space,” he added. “The ratio for our Mallory Park project is six parking spaces per 1,000 square feet of office space. A tenant with 100 employees can rent 16,667 square feet in our project, versus 20,000 square feet in a building with four spaces per 1,000 square feet. Based on current office rents, that’s a $100,000 or more savings in occupancy costs per year. In addition, because these buildings have no shared common lobbies, exit corridors or elevators, each tenant only leases the space they occupy, which makes our buildings even more efficient.”

 Phase II of Southeast Venture’s Mallory Park project broke ground this spring and will include 68,000 square feet of one-story office space designed for multiple points of entry and parking around the perimeter of the building. The shell of Phase II will be delivered in the fourth quarter of 2016 and could be ready for tenants as early as the first quarter of 2017.

 About Southeast Venture:

Founded in 1981, Southeast Venture is a diversified commercial real estate and design services company guided by a mission of “Building Value by Valuing Relationships.” The firm provides and coordinates the delivery of brokerage, development, architectural and interior design and property management. This unique, comprehensive approach to commercial real estate offers a cost effective and efficient way of meeting its clients’ commercial real estate needs. For more information, visit SoutheastVenture.com, or find Southeast Venture on Twitter @SEVentureCRE.

Nashville proudly joins the NERDS crowd

(This article originally appeared in the Tennessean on April 25, 2016)

429871739_bdb9df5c37_oNashville has been dubbed one of the “NERDS” in 2016. An acronym standing for “Nashville, East Bay, Raleigh, Denver and Salt Lake City,” the NERDS were revealed in a recent report from Jones Lang LaSalle, a global professional services and investment management firm. These six cities are identified as hidden gems that have emerged in the market as up-and-coming hotbeds for innovation, expansion and population migration. It’s safe to say that Nashville is in good company!

The study takes an in-depth look at what makes each of the NERDS a rising star, comparing statistics among each city and against national averages. With nearly 1,500 people moving to Nashville each month and a record-breaking commercial real estate year in 2015, it’s not too surprising that Nashville made the list. Our city is booming.

The mass influx of new residents is supported by businesses’ desires to serve their needs. There were 37 business relocations and 117 expansions in the 2014-2015 fiscal year, according to the Nashville Area Chamber of Commerce. And thanks to a strong and steady economy, Nashville is positioned as a hub of innovation and entrepreneurship with a solid foundation to support growth for years to come.

Even though Nashville’s already earned its status as an “It-city,” the transformation has only just begun. In 2016, we can expect economic growth to the tune of $2.7 billion in capital investment dollars and 18,000 new jobs in Davidson County. It’s never been so cool to be a nerd.

Our largest industries, education and health services, provide jobs for nearly 200,000 people within city limits and another 200,000 in surrounding counties. And our largest employers, Vanderbilt University and the Vanderbilt University Medical Center, together employ more than 20,000 people. According to this research, Music City is very quickly earning a new title — Eds-and-Meds City.

Of course, this surge in our city’s growth is a huge boon to the commercial real estate market here. With over 120 cranes decorating our skyline at any given moment, and a multitude of projects on the horizon, the city’s built environment is changing rapidly and for the better.

There is one small caveat that accompanies rapid growth: high prices for both commercial and residential real estate. With all but 18.1 percent of the nearly 3 million square feet under construction already leased and a vacancy rate of less than 7 percent, prices won’t wane for the foreseeable future. The good news? A plethora of commercial and residential options outside of the city’s urban core are available for a fraction of the cost. There’s something for everyone in this city.

Looking ahead, I see Nashville’s inclusion in this study as a sign of promise and hope of what’s to come for our great city. There are new jobs being created. We are attracting well-educated and creative individuals. Our built environment is changing for the better to support this growth. I believe that through all of this, we will become stronger and more unified as a city, and that Nashville will remain the same little-big, or in this case little-bigger, city that it’s always been.

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Wood Caldwell is managing principal of Southeast Venture, a diversified commercial real estate company. He writes about Middle Tennessee commercial real estate issues once a month for The Tennessean. Reach him at wcaldwell@southeastventure.com

Past informs future development of Hillsboro Village

By Wood Caldwell

(This article originally appeared in the Tennessean on Feb. 22, 2016)

Once upon a time, Hillsboro Village was all there was.  Before 12 South, the Gulch, Germantown, East Nashville and other urban neighborhoods became hip (or, in the case of The Gulch, even existed as a neighborhood), the only place to experience a truly successful mixed use, urban environment was along 21st Avenue South between Capers and Acklen avenues. As time went on and more trendy areas emerged, however, the Village began to lose its appeal; popular businesses came and went.

hborovillageBut with changes like the sale of the former sites of Bosco’s and Sam’s Sports Grill and development of 2100 Acklen Flats, Hillsboro Village is poised to once again be one of Nashville’s most vibrant urban neighborhoods.

To see where the area is headed, take a look at where it came from. The property where Hillsboro Village sits today was originally owned by Adelicia Hayes Franklin Acklen Cheatham as part of the large Belmont estate. In 1890 it began to be subdivided into neighborhoods and kick-started the boom of streetcar suburban living in Nashville. By the early 1920s, along with the wave of residents moving to the area came a business district with five grocery stores — from mom and pop places like White’s Market to Southern chain stores like Piggly Wiggly and H.G. Hills stores — and bakeries and gas stations. The opening of the historic Belmont Theater in 1925 contributed to the bustling activity of the area.

More retail shops emerged along the strip in the 1950s and 1960s, however, most of these businesses have since gone to retail heaven —  except for Pancake Pantry, which has been a Hillsboro Village staple since it opened in 1961. In the 1980s and 1990s, with restaurateurs Randy Rayburn and Jody Faison at the helm, Sunset Grill, Faison’s and the Iguana and JoeD’s Chicken Club not only made the strip Nashville’s premiere dining spot (and the place to see and be seen), they also created what became known as “The Vodka Triangle.”

Development changes of the late 1990s were led by H.G. Hill Realty, developer of 2100 Acklen Flats. In 1997, H.G. Hill converted the northeast corner of the strip, centered on the famous Pancake Pantry, into mixed-use space for retail, residential and restaurant tenants. To boost the area’s already thriving development, Vanderbilt University met with land and business owners and developers to protect the character of the neighborhood and set boundaries on its own campus expansion.

The buildings along Hillsboro Village today keep the character of 60 years ago — even though some are newer buildings ­— because an Urban Design Overlay (UDO) was put in place in 1999. Stakeholders and the Nashville Metropolitan Planning Commissionestablished the UDO to outline regulations and best practices that must be followed by businesses coming into the area, requiring that an advisory committee review all proposed architectural changes. It encourages storefronts of varying heights and designs, parking lots behind the businesses and the continued presence of street parking and pedestrian access.

The preservation of this urban, pedestrian-friendly center in Nashville is just as important today as it was 17 years ago. Local developers are putting more money and energy into bringing the charm of Hillsboro Village back to relevance. With this growth, the neighborhood is primed to continue to be enjoyed for decades to come.

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Wood Caldwell is managing principal of Southeast Venture, a diversified commercial real estate company. He writes about Middle Tennessee commercial real estate issues once a month for The Tennessean. Reach him at wcaldwell@southeastventure.com.