Tag Archives: Southeast Venture

Partner Profile: Tarek El Gammal, Principal at Southeast Venture

This is the first in a new blog series, in which we’re highlighting our influential partners at Southeast Venture, including information about their backgrounds, work and perspectives on real estate trends and all things Nashville. These are a few of the leaders that inspire innovation and drive our company forward, so take a few moments to get to know them.

tarek el gammalTarek El Gammal is a principal with Southeast Venture focused on brokerage and development services. Since joining Southeast Venture seven years ago, Mr. El Gammal has represented clients in a brokerage capacity of over $150 million in transaction value and has overseen the activities on approximately $70 million of development.

What changes have you seen within the company in the time you’ve been here?

In my time with the company, I’ve seen that the timing of Southeast Venture’s  growth was well-positioned with Nashville’s growth. We have become a more diverse real estate company touching more product types than before. When you look at the company’s history you can see this has been a persistent theme but one that stands out to me during my tenure.

What trends are you seeing in commercial real estate?

There is definitely a big trend toward urban growth. In the past five years, the multifamily sector went from a shortage to more supply than demand with owners who are offering healthy incentives for prospective renters. Submarkets like Germantown, that didn’t exist only a few years ago, are thriving. We are also seeing a trend in the most desirable suburbs where multifamily developments are being developed as part of larger mixed use projects, rather than standalone buildings.

And deal sizes continue to grow – not just because of inflationary effects, but also because of the scale of projects being undertaken. We’re seeing a city change before our eyes with density difficult for anyone to have imagined 10 years ago.

What was your favorite project/development from 2017?

Eastside Heights, in East Nashville, has been a special experience for me. Theunique architectural design coupled with wonderful public art (see: the “EAST” mural) has made it a landmark asset in some respects. I’ve enjoyed watching the first residents occupy the building and take advantage of the amenities we all worked so hard to program correctly. More broadly, I’ve enjoyed watching Germantown build out its residential housing. 2017 was a pivotal year for the neighborhood where a tremendous amount of supply was delivered and has helped to create a truly unique part of Nashville.

Eastside Heights

What project/development are you most looking forward to in 2018?

I’ve really enjoyed seeing the work our firm is doing on the Silo Bend project. It will have such a huge impact on that area of town [The Nations] and help in its ongoing transition from a heavy industrial corridor into a walkable neighborhood with office, retail and residential areas. The Nashville Yards project will be one that I am excited to see start in earnest, as it will have one of the greatest impacts on our city’s downtown once fully built out. It’s going to be amazing to see.

What’s your favorite thing about Nashville?

Everything (it’s hard to pick), but I would point to the music industry, which is something that creates a unique angle for the city.

Where do you think commercial real estate is headed in the next 5+ years?

Hopefully up. From my perspective, I think that the current conditions of oversupply in multifamily housing will be short-lived and our market will return to a healthier supply/demand balance in the next 12 months or so. From there, it is likely that the development activity will return to a more sustainable level.

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A Look at Cool Springs After its 30th Anniversary

Cool Springs was the brainchild of Southeast Venture founders George Volkert and Dick Sorenson. It’s almost unbelievable to think that it’s been 30 years since ground was broken for the Cool Springs interchange in 1987. The official anniversary was on November 12, 2017, which was serendipitously Dick Sorenson’s birthday.

The Cool Springs area has come a long way in 30 years, from thousands of undeveloped acres of open fields to 7.5 million square feet of office space – a close second to downtown Nashville.

Once the interchange was approved by the Department of Transportation, the partnership sold property to CBL & Associates from Chattanooga to develop the Cool Springs Galleria. That put us on the map as the company responsible for the original master plan and beginning execution of Cool Springs.

A Nashville Post article, published in conjunction with the November anniversary, revealed that the development once was known as Park65, but the name Cool Springs was chosen instead for a nearby landmark, the Cool Springs Farm, which included a historic home, now relocated to Crockett Park.

Former Southeast Venture President George Volkert promised at the groundbreaking that the 1,150-acre Cool Springs project would create 16,000 jobs and more than $200 million in city and county tax revenues over 20 years, and that promise has surely been met.

Breaking ground on the interchange set the stage for a major regional hub outside of Davidson County. Developments have now expanded to both sides of Interstate 65 in Cool Springs, including several luxury hotels, shopping centers (in addition to the mall), business parks, office buildings, big box retailers, low-rise apartments, condominiums, restaurants and car dealerships.

It has become a regional center, drawing people from across Middle Tennessee, southern Kentucky and northern Alabama.

One of our first large-scale projects, we never could have imagined the explosive growth that has taken place in Cool Springs. We look back at this development fondly and are excited to see how the area continues to expand for years to come.

2017 Year in Review

In 2017, we celebrated a momentous and busy 35th anniversary while working on many exciting projects. From Silo Bend to Hillsboro Village, we continued our trailblazing efforts across Nashville, to develop the latest and greatest spaces for people to live and work. Here are a few highlights from the year:

Silo Bend

One of our most noteworthy projects in 2017 was a mixed-use development in the booming neighborhood of The Nations. The development, Silo Bend, was named after the 200-foot abandoned silo that towers over the area and the property’s location across from a bend of the Cumberland River. We broke ground on the 37.7-acre site in March and began constructing The Flats @ Silo Bend, a 193-unit apartment building – which will later be joined by single-family homes, office space, retail buildings and additional apartments.

Silo Bend in The Nations

Photo credit: Brian Siskind, Those Drones

We also partnered with the Nashville Walls Project to commission internationally known Australian artist Guido van Helten to paint a large-scale mural on the silo itself. The mural features monochromatic portraits of local residents – capturing the essence of the community – and can be seen from almost a mile away.

Eastside Heights

East Nashville is a growing community just minutes away from downtown. This year, we developed Eastside Heights, a beautiful new mixed-use apartment building located at 5th and Woodland. The building includes 249 state-of-the-art apartments and 8,000 feet of ground-floor retail space.

It also boasts a resort-style swimming pool with an in-pool sun deck, two landscaped courtyards, a pet spa and dog walk, fitness and yoga facilities, a cyber café, a multi-level parking garage and a two-level sky lounge with an outdoor patio and a stunning view of downtown Nashville.

EAST

Photo credit: Aerial Innovations

The Nashville Walls Project helped us to commission a mural here as well. Four local artists contributed to the large “EAST” mural, which covers over 4,500 square feet of the property’s western-facing exterior wall. Since it faces I-24, it is estimated that over 100,000 vehicles see the piece every day.

We worked closely with Hardaway Construction to complete this project, and residents began moving in this fall.

Belcourt Village

We also provided architectural design services for Elmington Capital Group’s Belcourt Village, a 23,900-square-foot, mixed-use development situated across from the historic Belcourt Theatre in Hillsboro Village. It will offer 25-28 apartments and ground-floor retail space that is adjacent to Hopdoddy Burger Bar and Altar’d State.

Belcourt Village Rendering

Located between Belmont and Vanderbilt universities, this modern living and retail space is sure to attract college students and young families, who make up a large portion of the neighborhood’s population. We’re excited to be adding another great stop in one of Nashville’s most walkable neighborhoods.

35 Years in the Making

For the last 35 years, we’ve been dedicated to building strong relationships with people companies across Middle Tennessee. Through those partnerships, we’ve helped develop the city of Nashville into what it is today: a growing and thriving metropolitan area that is home to 1.75 million people and counting.

2017 was a busy year filled with growth, and none of it would have been possible without our clients and hard-working team members. We’re excited for 2018 and look forward to another year of success!

 

Neighborhood Spotlight: Green Hills

One of Nashville’s most affluent communities can be found just a few miles south of downtown. Nestled between the 12 South and Belle Meade neighborhoods, Green Hills is a bustling community that welcomes both natives and newcomers to share in its many shopping, dining and recreational opportunities.

Green Hills began as a small community in the 1930s. After World War II, it grew significantly as people began building houses in anticipation of new business activity throughout the area.

The neighborhood is most widely known for its upscale shopping, such as the Hill Center – an open-air shopping concept – and the Mall at Green Hills, which opened in 1955 as a strip mall. Since then, the mall has undergone major expansions and renovations so that it now holds more than 100 stores and restaurants combined. Green Hills is also home to an iconic music venue, the Bluebird Cafe, which opened in 1982 and welcomes more than 70,000 visitors each year.

The community is located just a short distance from Nashville’s three major universities – Belmont, Lipscomb and Vanderbilt. College students and families alike can be seen at the local movie theater and nearby restaurants.

Radnor Lake State Park rests on the outskirts of Green Hills and boasts abundant wildlife, scenic hiking trails and numerous photo opportunities.

Real estate in the area is booming as more people and businesses look for places to reside within Davidson County. Southeast Venture’s architecture team is currently designing a new multi-family development in the heart of the shopping district with plans for a LEED-certified “green” roof.

At the Hill Center, Southeast Venture helped Endodontic Associates find its new home and provided interior design services to arrange the space according to its needs. A local foster care organization, Monroe Harding, also recently enlisted Southeast Venture to sell its property and use the proceeds to expand its youth services.

Green Hills is a popular neighborhood that will experience sustainable growth as new developments and renovations take place. And areas like this are sure to increase in value as demand for space in and around Nashville continues to rise.

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 welcomes Harrison as marketing coordinator


This article originally appeared in the Nashville Post on Dec. 13, 2016.

kaylen-harrisonNashville-based commercial real estate and design firm Southeast Venture has added Kaylen Harrison as its first ever full-time marketing coordinator.

Harrison (pictured) will work with Southeast Venture’s brokerage, design, development and property management team to expand the company’s presence in Nashville community, according to a release.

A University of Kentucky graduate, Harrison has held previous roles as a digital media specialist, marketing administrator and independent website manager. She has experience in lead generation, social media campaigns and the design and development of marketing tools and campaigns.

“We are lucky to have found someone with the wealth of knowledge and experience that Kaylen has demonstrated,” Todd Alexander, principal at Southeast Venture, said in the release. “Our company has grown to a place where we need in-house marketing support, and we are confident that Kaylen is the right person to handle this feat.”