JW Marriott - 385' - 34 Floors

[smeagolsfree]

Looks as if the UMP building is now vacant. Look for a closing this month.

[Vrtigo]

Looks as if the UMP building is now vacant. Look for a closing this month.

 

Confirmed. They had a crane hauling off the HVAC components from the roof yesterday, and the rooftop parking is conspicuously empty...

[nashvylle]

I want to see this project started asap

[wmaddbb2018]

Me to, I think Nashville desperately needs some new office space and this will help with the void, although I know completion is minimum 2 years away.  Secretly I just want to see 2 more cranes in the skyline....

[bhibbs]

I want to see this project started asap

 

Should be, asbestos removal is done, demo should start soon 

[titanhog]

Does anyone know it they will build the hotel and office simultaneously?

[wmaddbb2018]

Yes they will be building both at the same time.

[titanhog]

Yes they will be building both at the same time.

That will be a beautiful site...seeing the JWM, office and Westin all rising at the same time.

[chris holman]

That will be a beautiful site...seeing the JWM, office and Westin all rising at the same time.

also Bridgestone, :-)

[TNinVB]

....and SoBro

[Paramount747]

Land deal closing this month?

[MLBrumby]

UMPH property sells to Turnberry.  From Tennessean.com... http://www.tennessean.com/story/money/real-estate/2015/08/10/284m-paid-jw-marriott-office-building-site/31397891/

 

And the new UMPH "campus" in MetroCenter.  All together now, "Yuck!" ... 

Edited August 10, 2015 by MLBrumby

[Bezoar]

And in no time flat, the demo permit is pulled!  In the permit reports from Friday.  

[MLBrumby]

After all the bluster... and bold talk.. and $28.5 million to purchase the UMPH, Turnberry is already scaling back on its "big plans".  http://www.tennessean.com/story/money/real-estate/2015/08/10/284m-paid-jw-marriott-office-building-site/31397891/

Looks like my prediction that the JWM will be 15 stories may even be overly optimistic. 

 

Edited August 10, 2015 by MLBrumby

[Vrtigo]

And there is the other shoe... dang this thing is getting smaller by the minute...  http://www.tennessean.com/story/money/real-estate/2015/08/10/284m-paid-jw-marriott-office-building-site/31397891/

Weird...

My office will have a better view of the hotel now, but I'm still a little disappointed. Plus, that's a huge site for just the hotel. Either the hotel is getting a dramatic redesign to more fully occupy the space, or there is going to be a significant portion of this site left empty.  

Maybe they will resurrect the office tower idea later on?

[chris holman]

So the office portion of the development has been scrapped?

[titanhog]

I just hope this doesn't mean they'll build something with less height to fill the land where the office tower would have gone.

Fingers crossed they build the hotel, at the least, "as-is"...then either design and build another 300'-500' hotel / condo tower or sell the extra land to someone who will.  That's land is too prime.

Btw...I have a sinking feeling they're going to shrink the height and use all of the footprint for the hotel. 

[titanhog]

In the image in the NP...it shows what I assume is convention space covering most of the rest of that block, so I wonder if they'll just expand that space to cover where the office building was going to be?

[markhollin]

My guess is they will leave the office portion of the block undeveloped for now--until they can find a tenant, and then they'll add it in as they go.  I think they are anxious to get the Marriott underway as the tourist/convention market is screaming for more rooms pronto.  The primary tenant for office space may not be that far down the road if some of these rumors about several more large corporate relocations into Nashville have some veracity to them. 

 

[titanhog]

My guess is they will leave the office portion of the block undeveloped for now--until they can find a tenant, and then they'll add it in as they go.  I think they are anxious to get the Marriott underway as the tourist/convention market is screaming for more rooms pronto.  The primary tenant for office space may not be that far down the road if some of these rumors about several more large corporate relocations into Nashville have some veracity to them. 

 

I hope you're right.  I really like how the two buildings play off one another.

[ariesjow]

I also hope the office tower is built in a later phase. Given the proximity to the remainder of downtown, the MCC, Bridgestone, the Gulch and the JW Marriott, it seems like a nearly perfect location to pitch to a major corporation considering a relocation to Nashville.

Edited August 10, 2015 by ariesjow

[Vrtigo]

I also hope the office tower is built in a later phase. Given the proximity to the remainder of downtown, the MCC, Bridgestone, the Gulch and the JW Marriott, it seems like a nearly perfect location to pitch to a major corporation considering a relocation to Nashville.

Interesting to consider.

It is worth noting however that if, say that Fortune 50 rumor comes true, then the office building that had been slated for this site would hardly be adequate. Consider Bridgestone, after all--they are #283 on the Fortune 500. If Bridgestone needs something nearly 500' tall, then what had been proposed here would need to be nearly twice its original size.

[gannman]

I believe the parcel will need to be developed at some point, rather than expanding the hotel's footprint, in order to get a return on their investment. 

[NashRugger]

It's better to be cautious because a few comments above is correct, Nashville can only take so much spec office space in a market that isn't a large as other peer cities. We're still in our kid years in terms of becoming a stage player, the market will evolve with the city. Plus, banks still aren't keen on handing out funding for spec space, they want commitments, whether it be office, residential, hotel, etc.

[titanhog]

A little more info with a quote from Turnberry...

http://www.bizjournals.com/nashville/blog/real-estate/2015/08/turnberry-pumps-brakes-on-office-tower-next-to.html