Tag Archives: Middle Tennessee

Designing a Sleek, Fun Office Space for Two Tech Companies

Happy employees make happy customers…but how do you make employees happy?

Our Design Group recently had the privilege of designing the workspace for two tech companies in Middle Tennessee, Rustici Software and Watershed, which are housed in a former warehouse. The founder of both companies, Mike Rustici, believes in creating workspaces that make employees want to come to work, so we made this our focus from the beginning.

During our planning phase, Mike and his team emphasized how important it is to have multiple common areas that would encourage people to come together and share ideas. They wanted the space to be vibrant and attractive, so we used bright colors, wood elements and open-air design to achieve that.

To balance interaction with privacy, we designed small offices with glass doors and windows that give employees the quiet space they need to work while keeping the open areas visible. Because employees often work in teams, these offices are grouped together based on their area of expertise, giving them ample opportunity to come together and collaborate.

To get a glimpse of this newly designed office space, take a look at these photos:

One of the brightly colored collaboration rooms.

This area is perfect for work or play with large wooden tables, a TV screen and ping-pong table.

The kitchen is large with ample seating, and glass garage doors open up to the patio.

Pictured to the right is just one of the eight conference rooms throughout, and the area to the left is available for one-on-one collaboration.

This covered deck is just the right spot to get a breath of fresh air while overlooking the Bocce Ball court.

With a variety of different workspaces to choose from, the teams at Rustici Software and Watershed are sure to experience no shortage of creativity and flexibility. Mike Rustici said it best, “If cool, well-designed space allows our great people to work more productively and be happier at work, it is definitely worth it.”

ULI Nashville honors Astoria

Last week, the Nashville Urban Land Institute honored six Middle Tennessee developments with its Excellence in Development Awards.

We were thrilled to learn that the Astoria, our Green Hills’ Bedford Avenue mixed-use development project with Ewing Properties was one of the developments recognized.

Astoria has a timeless, classic feel to it, with top-quality materials and amenities. Our partners in the project also included T.W. Frierson, Barge Cauthen Associates, Enfinity Engineering and EMC Structural Engineers PC.

The ULI judges said, “This project fits seamlessly into the environmentally sensitive, new urbanist, mixed-use district that the property owners, developers, public officials and neighbors worked so hard to establish.”

Other developments recognized were the Franklin Theatre, McCabe Park Community Center, Nance Place, Room in the Inn and Ruby.

2012 Sectors Outlook

Survey: Majority Believe Middle Tennessee Commercial Real Estate Climate is Improving

(third of three posts)

This is our last post detailing the results of our CRE survey. Responders were asked to predict how each sector of Middle Tennessee commercial real estate will preform in 2012 compared to 2011.

Middle Tennessee CRE SectorsMulti-family topped the list of commercial real estate sectors, with 79 percent of responders predicting that the multi-family sector will perform better or much better in 2012 than last year. The office and retail sectors were also viewed favorably, with 66 and 58 percent expecting better or much better performances in 2012, respectively.

Commercial real estate insiders are least optimistic about the land and industrial sectors, with eight and seven percent, respectively, of responders banking on a worse performance in 2012 compared to 2011.

When compared to other sectors, the outlook for land sales looks a bit less promising, but when put into the context of last year’s survey, optimism appears to be rising slightly in this sector. Last year, only 24 percent of survey takers felt that the land sector would perform better or much better than 2010. This year, that statistic has jumped 13 percent to 37.

A majority (56 percent) of responders believe that the real estate-owned (REO) sector will remain constant in 2012.

Check out the 2012 Sales Outlook.

Check out the 2012 Leasing Outlook.

2012 Leasing Outlook

Survey: Majority Believe Middle Tennessee Commercial Real Estate Climate is Improving

(second of three posts)

This is the second entry that outlines the results of a survey that we conducted of local and regional commercial real estate brokers, developers, building owners and investors. The survey asked responders to assess the mood of the marketplace in three categories: sales, leasing and sectors.

The first post talked about sales, this post will focus on leasing.

Commercial leasing polled better than sales, with 74 percent of responders indicating that leasing will be better or much better than last year. Twenty-three percent claimed no change, and four percent expect leasing to be worse or much worse this year.

Middle Tennessee Leasing

Confidence in the improving economy and increased activity in the pipeline topped the reasons for an improved leasing environment, as well as an improving jobs market.

On the other side of the argument, current low vacancy rates have 13 percent of responders believing that leasing cannot get any better. “There is less space, so activity will be better, but leasing may fall short due to a lack of supply,” one responder explained.

The elections, whether good or bad, factored into nine percent of respondents’ leasing considerations.

For a bit of perspective, check out our 2011 Leasing Outlook here.

Nashville CRE Week in Review: Week of Feb. 5

Nashville CRE Links

  1. Empty big boxes answer the call — Nashville Ledger (link)
  2. High-end rentals top residential trends — Nashville Ledger (link)
  3. Middle Tennessee poised for new construction in rejuvenated office, residential, retail markets — Nashville Ledger (link)
  4. Midstate retail trends toward mixed-use development — Nashville Ledger (link)
  5. N.Y. law firm close to moving into Nashville’s Ragland Building — Nashville Business Journal (link)

2012 Sales Outlook

Survey: Majority Believe Middle Tennessee Commercial Real Estate Climate is Improving

(first of three posts)

Last month we conducted our 2nd Annual 2012 Middle Tennessee Commercial Real Estate Survey. Seventy-nine commercial real estate brokers, developers, building owners and investors took the survey, which gauged expectations about local sales, leasing and sector activity in 2012.

I am going to present the survey results here, in a series of three posts, beginning with the first category: Sales.

Middle Tennessee SalesSixty-four percent of respondents believe that sales of Middle Tennessee commercial real estate will be better or much better in 2012. That’s down from 87 percent of survey takers last year. Thirty-two percent expect sales to be stagnant in 2012 compared to 2011.

The election was the primary reason behind the sales outlook, with 17 percent of responders citing concerns about the elections. “The elections are bringing some hope that there will indeed be positive change for businesses and in turn an increase in jobs,” one responder wrote. “I know a lot of owners that are sitting on capital until they know the outcome of the election,” another added.

Other factors in the sales outlook included an easing in restrictions on lending and financing, the slowly improving economy and increased activity in the pipeline.

When we surveyed our local CRE community last year, a loosening of lending and financing policies was the top reason cited for the optimistic sales outlook. The same is essentially true this year, but the elections are clouding the outlook. We won’t know until the elections are over whether the local market will be worse or better off.

Middle Tennessee’s CRE 50

Nashville Post’s recent listing of the “CRE 50” of 2011 included two familiar faces from Southeast Venture: Randy Parham and Axson West. The feature highlights 50 commercial real estate pros who are making moves throughout Middle Tennessee.

Check out Randy and Axson’s profiles from the article.

Congratulations to both of them!