Inner Loop - CBD, Downtown, East Bank, Germantown, Gulch, Rutledge

[markhollin]

Centurion Stone is still planning on move from their 12 acre site on the shore of Cumberland in Germantown in early 2018, and still looking for a buyer for that land. The plot is immediately to the north of Hammermill apartments which are under construction right now. Centurion Stone will be hiring another employees to be relocated with the 200+ others at their new location on Cockrill Bend.

http://www.nashvillepost.com/business/development/article/20973837/centurion-stone-to-hire-50-as-early-2018-move-looms

 

[MLBrumby]

On 8/25/2017 at 10:23 AM, markhollin said:

From today's Nashville Post:

A SoBro-area property with two buildings located across the street from venerable live music venue 3^rd & Lindsley has hit the market for about $10.95 million.

The 1.48-acre property has an address of 804 Fourth Ave. S. and sits on an elevated site in the southern fringe of Rutledge Hill (with SoBro to the immediate west). The two buildings are part of the four-building Downtown Business Center. The nondescript one-story office and light industrial buildings opened in 1985 and are oriented in a suburban manner (severed from the sidewalk by surface parking).

The two-building property is zoned to accommodate a building of up to 16 floors. The asking price is the per-foot equivalent of $175.

Gallatin-base Green & Little owns the property. Of note, the company is undertaking in Green Hills a major mixed-used project (read more here).

Two years ago, Green & Little listed both parcels (and the four buildings) for sale for about $23 million (or $155 per foot) but removed from the market about six months later.

“We received a number of offers but nothing close enough to what the owner was seeking,” said Brian Jernigan, an Eakin Partners agent who is co-listing the now-for-sale property with Colliers International | Nashville agent Nate Greene. The two also teamed to co-list both parcels two years ago.

Jernigan said the owner is seeking to sell only the two buildings on the west of Third, in part, because the five tenants in them are each on short-term leases.

“The owner feels like the two east buildings have tenants with longer leases and is not ready to sell that site,” Jernigan said.

Of note, Nashville-area-based Natchez Group has on an adjacent property a six-story storage building under construction.
 

 

Speaking of... does anyone have an update on the status of the LC project on both corners to the north/northeast of this site?  

http://www.nashvillepost.com/business/development/article/20856137/june-start-date-eyed-for-sobro-apartment-development

[markhollin]

^ ^ ^ My guess is they are waiting to finish their large Lifestyle Communities property in Germantown (which is looking very nice, by the way) before breaking ground on this.  Thus, I would think sometime in the first half of next year.   The Division Street Connector opening very soon will certainly be a catalyst.  Things will be hopping in this neighborhood before we know it.

[markhollin]

Sedona Taphouse coming to Broadstone Germantown within a 3,000 sq. ft. space facing 3rd Ave. North near intersection with Madison Street.  Will be a $1 million build-out:

https://www.bizjournals.com/nashville/news/2017/08/28/on-tap-another-bar-and-restaurant-headed-to.html

Additionally, here are some some new pics of the apartment complex.

Sedona Taphouse will be in retail space shown on first floor here:

 

Part of the clubhouse:

 

The music performance hall with deck overlooking city:

 

Party deck:

 

Sound-proofed music writing room:

[markhollin]

Houzz Inc. has announced plans to double the number of its Nashville employees to more than 400 people in the next 12 months.

Similarly, the Palo Alto, California-based company, which offers an online platform for home remodeling and design, will lease an additional floor at the UBS Tower in downtown, according to a release.

Houzz has operated from floors 24 and 25 in the UBS Tower since January 2017. To accommodate its continued growth, Houzz has finalized the lease of the 26th floor.

http://www.nashvillepost.com/business/economic-development/article/20974021/houzz-to-double-nashville-workforce-to-400

http://www.tennessean.com/story/money/real-estate/2017/08/30/home-remodeling-platform-houzz-add-200-plus-more-jobs-nashville/611687001/

[thenorthchannel]

Last I heard the Division Street Connector was slated to open tomorrow.  I've driven by it a few times in the past week and it doesn't quite look ready.   I will say it looks sharp, and the city's brought the two tone Gulch style sidewalks across the Connector and eastward into SoBro.   I am curious if anyone has heard an update of when it will open? 

[dReAmWiELdEr]

Houzz Inc. has announced plans to double the number of its Nashville employees to more than 400 people in the next 12 months.

Similarly, the Palo Alto, California-based company, which offers an online platform for home remodeling and design, will lease an additional floor at the UBS Tower in downtown, according to a release.

Houzz has operated from floors 24 and 25 in the UBS Tower since January 2017. To accommodate its continued growth, Houzz has finalized the lease of the 26th floor.

http://www.nashvillepost.com/business/economic-development/article/20974021/houzz-to-double-nashville-workforce-to-400

http://www.tennessean.com/story/money/real-estate/2017/08/30/home-remodeling-platform-houzz-add-200-plus-more-jobs-nashville/611687001/

So what percentage of the building will be left available after these floors are leased?


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[jmtunafish]

4 hours ago, dReAmWiELdEr said:

So what percentage of the building will be left available after these floors are leased?


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The Tennessean says this will bring UBS to 94% occupancy.  Wasn't it less than 50% just a couple of years ago?

[wmaddbb2018]

What buildings at this point even have a substantial amount of sq ft available should someone want to expand?

[Guest]

What buildings at this point even have a substantial amount of sq ft available should someone want to expand?

222
1201

Both have about 50K left.

BOA has quite a bit of space.



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[Pdt2f]

Maybe some of y'all know a little bit about this: I was glancing around at Smeag's development map and I noticed that next to the Nashville City Center there are plans for a 20 story building where they built a 5 level garage. Is this the same tower that was originally planned when they built it in the '80s? I thought that one was supposed to be a lot taller. Does anyone know anything about the status of this 20 story building, or just a general history of what they have planned/are planning for this area? Seems like some pretty prime real estate to be sitting dormant so long. 

[LA_TN]

25 minutes ago, Pdt2f said:

Maybe some of y'all know a little bit about this: I was glancing around at Smeag's development map and I noticed that next to the Nashville City Center there are plans for a 20 story building where they built a 5 level garage. Is this the same tower that was originally planned when they built it in the '80s? I thought that one was supposed to be a lot taller. Does anyone know anything about the status of this 20 story building, or just a general history of what they have planned/are planning for this area? Seems like some pretty prime real estate to be sitting dormant so long. 

 

When they built the underground parking garage, it was designed to accommodate a 20 story tower to be built on top at a later date. There are currently no immediate plans to build such tower

[markhollin]

Hampton Inn SoBro expansion (5 stories, 50 rooms) update.

Looking SE from intersection of 4th Ave. South and Molloy Street:

[Nashville Cliff]

7 hours ago, LA_TN said:

When they built the underground parking garage, it was designed to accommodate a 20 story tower to be built on top at a later date. There are currently no immediate plans to build such tower

They are just about finished installing a small food space at the corner of the surface lot of that garage.  Looks like it will be some kind of sandwich shop.  It's one of those shipping container re-use structures.

[markhollin]

In wake of superstorm Harvey, Nashville government wants to revisit the $125 million flood wall plan:

https://www.bizjournals.com/nashville/news/2017/08/31/in-wake-of-harvey-nashville-revisits-125flood-wall.html

[BnaBreaker]

1 hour ago, markhollin said:

In wake of superstorm Harvey, Nashville government wants to revisit the $125 million flood wall plan:

https://www.bizjournals.com/nashville/news/2017/08/31/in-wake-of-harvey-nashville-revisits-125flood-wall.html

While Nashville probably isn't at risk of Harvey level flooding, this is nonetheless such a no-brainer project to me.  I hope they eventually build it.  

[claya91]

Unpopular opinion, but I was never sold on the flood wall. Due diligence was lacking. Why so expensive? What are the alternatives? Will it divert flood waters to the East bank? What about run off on the west side of the wall? What about the rest of Nashville?

[PaulChinetti]

That's a good point what's on the east bank because it's much lower?!

Perhaps the wall on the east bank is up more towards the interstate on the other side and you are just conceding the stadium, scrap yard and all of that?

Or is it like St. Louis where it just pushes all the problems farther down stream?

[fieldmarshaldj]

13 hours ago, Pdt2f said:

Maybe some of y'all know a little bit about this: I was glancing around at Smeag's development map and I noticed that next to the Nashville City Center there are plans for a 20 story building where they built a 5 level garage. Is this the same tower that was originally planned when they built it in the '80s? I thought that one was supposed to be a lot taller. Does anyone know anything about the status of this 20 story building, or just a general history of what they have planned/are planning for this area? Seems like some pretty prime real estate to be sitting dormant so long. 

 

It's the same location for what was supposed to be Nashville City Center II. You're correct that it was supposed to be much taller, 40 stories and about 510' tall.

[Nash_12South]

I think part of the delay for any future City Center building is that it would block a lot of views from the existing tenants. Tenants they cannot currently afford to lose or anger with a construction project 50 feet away.

[PaulChinetti]

I was confused which building city center was so I searched it, here are some of you all talking about it in 2005!

 

[CenterHill]

13 hours ago, LA_TN said:

When they built the underground parking garage, it was designed to accommodate a 20 story tower to be built on top at a later date. There are currently no immediate plans to build such tower

This is correct.    

31 minutes ago, Nash_12South said:

I think part of the delay for any future City Center building is that it would block a lot of views from the existing tenants. Tenants they cannot currently afford to lose or anger with a construction project 50 feet away.

This is not correct.    None of that is/was a factor.   

[CenterHill]

6 hours ago, Nashville Cliff said:

They are just about finished installing a small food space at the corner of the surface lot of that garage.  Looks like it will be some kind of sandwich shop.  It's one of those shipping container re-use structures.

Yes, it is a shipping container and will be a food kiosk.   Sort of a permanent food truck.     I'm not sure who the vendor is that will occupy it.    The City Center owners are also constructing an outdoor stage and new seating and landscaping on the plaza.     I'll try to snap some pictures of the renderings in the building lobby. 

[NashvilleObserver]

1 hour ago, fieldmarshaldj said:

It's the same location for what was supposed to be Nashville City Center II. You're correct that it was supposed to be much taller, 40 stories and about 510' tall.

Here are the renderings posted in December

[markhollin]

Metro is negotiating with TDOT to take over control of Lower Broadway:

http://www.tennessean.com/story/news/2017/08/31/metro-might-take-over-broadway-nashvilles-downtown-thouroughfare-from-tdot/619914001/