Tag Archives: Cool Springs

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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Nashville’s ‘it’ status is 35 years in the making

By Wood Caldwell

(This article originally appeared in the Tennessean on March 21, 2016)

In 1981, Ronald Reagan was president, Music City (and the world) was introduced to MTV and our commercial real estate firm opened its doors. The view through our doors has certainly changed in the past 35 years.

The Nashville skyline has transformed dramatically. The American General Tower (now Tennessee Tower) was the city’s tallest building in 1981, because the AT&T headquarters — aka “The Bat Building” — had not arrived. Other skyline-defining buildings missing in 1981 included 5/3 Center, One Nashville Place, Nashville City Center, Pinnacle at Symphony Place, the Schermerhorn Symphony Center, Bridgestone Arena, Viridian Tower, Encore, the Renaissance Hotel, Downtown Hilton Hotel, Omni Nashville Hotel, the Country Music Hall of Fame and Museum, and the Music City Center, to name but a few. Today, our skyline is ranked as the 12th most beautiful in the nation by Thrilllist.

Nashville Skyline Crop

The ground-level view of downtown has changed just as significantly for the better. Pockmarked with shuttered storefronts, strip clubs and porn shops, Lower Broad was far from a tourist Mecca. In fact, the Nashville Convention Center was built in the mid-1980s with no windows or doors on the Broadway side of the building because the street was such an eyesore.

The only real foot traffic downtown was on Second Avenue (then known as Market Street), where some enterprising entrepreneurs had purchased the old warehouses there and begun to transform them into retail stores, restaurants and office space. But even this part of town was largely deserted after dark. People just didn’t go downtown, no matter how much you enticed them, which was proven when a beautiful shopping mall was built where the downtown public library sits today. It lasted about two years.

The idea that the industrial area south of Broadway, now known as SoBro, or the grimy and depressed area near the railroad switching yard, aka The Gulch, would someday be home to some of the most valuable real estate in town would have been outlandish, had anyone been crazy enough to suggest this.

Union Station Hotel was still an abandoned train station. The Frist Center for the Visual Arts was still a post office. Cummins Station was an abandoned warehouse. The city’s largest strip club, the Classic Cat, was next door to Hume Fogg High School. The Hall of Fame was in a rather small, barnlike building on Music Row. Where the Roundabout Building is today sat a portion of Hank Williams home, which someone had moved there as a tourist attraction (though I never saw it attract anyone). There was no Music Row Roundabout, no “Musica” statue — just a confusing intersection of five streets.

Looking outside of Downtown Nashville, there was no Cool Springs and The Mall at Green Hills was a modest, one-story affair. In contrast, Hickory Hollow Mall was the highest grossing mall in the state and its cousin north of town, Rivergate, was also minting money.

For a night on the town, Hillsboro Village was the only urban, mixed-use part of town, and it was becoming the trendy restaurant hub of Nashville, thanks to pioneering restaurateur Jody Faison, who launched Faison’s in the early 1980s and essentially founded Nashville’s independent restaurant landscape. Within a few years, Randy Rayburn opened Sunset Grill, and Hillsboro Village’s restaurant run began in earnest.

The striking difference between then and now is the result of enlightened city leaders and local real estate visionaries working together to build a better city. It has been a privilege to have a front-row seat to this incredible transformation.

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

Nashville CRE Week in Review: Week of August 12

Nashville CRE Links

  1. $12M permit issued for work on HCA’s Antioch property — Nashville Business Journal (link)
  2. Atlanta developer eyes mixed-use Germantown project — Nashville Business Journal (link)
  3. Developers break ground for office building, apartments at Franklin Park in Cool Springs — Tennessean (link)
  4. NHI pays $25.2M for Washington senior living campus — Nashville Businesss Journal (link)
  5. Pittsburgh firm to lead SoBro plan — Tennessean (link)

Nashville CRE Week in Review: Week of March 25

Nashville CRE Links

  1. 4th and Commerce looks to land tenants — Nashville Post (link)
  2. Mayor Dean announces plan to guide Nashville growth — Nashville Business Journal (link)
  3. Metro gets $400,000 to plan SoBro ‘vision’ — Tennessean (link)
  4. New Cool Springs office space targets expansions, relocations — Tennessean (link)
  5. The Shopping Center Group moving to Terrazzo in the Gulch — Nashville Business Journal (link)

Nashville CRE Week in Review: Week of Dec. 4

Nashville CRE Links

  1. Boyle exploring redevelopment in Nashville’s North Gulch — Nashville Business Journal (link)
  2. Centennial Park apartments on tap — Tennessean (link)
  3. Expect slow grind to real estate recovery — Tennessean (link)
  4. Lenox Village getting more retailers — Nashville Post (link)
  5. New contender mulls Cool Springs office race — Nashville Business Journal (link)

Market Conditions 2011 — Cool Springs

Deliveries, Absorption & Vacancy

Deliveries, Absorption & Vacancy

Vacant Space

Vacant Space

Quoted Rental Rates

Quoted Rental Rates

Office Breakdown

Office Breakdown

Next week: Downtown

Also in this series: Brentwood, Airport North & South

Nashville CRE Week in Review: Week of Oct. 16

Nashville CRE Links

  1. Hendersonville apartment complex sells for $33 million — Nashville Business Journal (link)
  2. Major office developments planned for The Gulch — Nashville Post (link)
  3. Murfreesboro planners approve proposed Amazon warehouse — Daily News Journal (link)
  4. O’Charley’s nets $105 million in sale-leaseback of 50 properties — Nashville Business Journal (link)
  5. Spectrum plans spec office building in Cool Springs — Nashville Business Journal (link)