The Cool Springs area landed another large corporate relocation although they arent moving too far! The CHD Meridian, a business health care provider, has signed a $10 million lease for their build to suit headquarters just downt he road from the new Nissan North America Headquarters. Here is the story reported by Jim Stinson with the Nashville Business Journal:
” $10M HQ on the way for Cool Springs
CHD Meridian of Green Hills, a health care provider to businesses, has agreed to lease a new $10 million, build-to-suit headquarters in Cool Springs, 2 miles from the new Nissan North America office building.
First Industrial Realty Trust Inc. of Chicago will build the two-story, 50,000-square-foot building, and lease it to CHD Meridian (AMEX: DMX) through an 11-year agreement, according to the company’s real estate officials.
CHD Meridian, a subsidiary of I-Trax Inc. of Pennsylvania, offers on-site health care for corporate clients. The location in Cool Springs, a magnet for large corporate headquarters, seems ideal for the health care provider, observers say.
The CHD Meridian building will be located at Creekstone Boulevard south of South Royal Oaks Boulevard.
The Franklin location is half a mile south of Murfreesboro Road, and west of Interstate 65.
“It gives them a good central location for their employee base with good access to interstates,” says David McRae, principal of Newmark Knight Frank of Nashville, who represented CHD Meridian.
McRae says he and fellow NKF principal David Koziak saw few openings for such space and land in Green Hills.
“We considered all areas of town,” says McRae.
As for proximity to Nissan and other large offices and headquarters, McRae says it wasn’t a requirement of CHD Meridian “but it certainly was a plus.”
Whit McCrary, office division leader for Colliers Turley Martin Tucker, says a scarcity of land probably convinced CHD Meridian to look past Green Hills and even downtown.
“The cost of land is more favorable [in Franklin],” says McCrary. “Pretty much the whole area [of Green Hills] is built out.”
CHD Meridian has about 130 employees but may expand to a payroll of 200 in the future, according to sources close to the company.
CHD Meridian’s headquarters is at 40 Burton Hills Boulevard, a building managed by Alex S. Palmer and Co.
Dixon Thayer, CEO of I-Trax, was unavailable for comment.
Construction on the Cool Springs headquarters will begin this fall and may be finished by May 2008.”