“QUESTION: Geographically, which areas in your specialty are performing best?
Partner | Waller Lansden Dortch and Davis | 615-850-8906
The Clarksville market is currently in the best shape. Once Hemlock Semiconductor Corp. gets up and running, bulk space in Clarksville will be hard to come by and will probably create speculative and build-to-suit opportunities along Interstate 24 between Nashville and Clarksville.
The I-24/La Vergne corridor is somewhat mature, and the characteristics that contribute to its sustainability — proximity both to Metro Nashville and to I-24 — allow it to maintain solid, if not record-breaking, occupancy.
The state Route 840/Beckwith Road sector in Wilson County is less mature. Vi-Jon’s lease at Rockdale helped, but more than 2 million square feet of speculative space vacancy remains in that submarket.
Managing director | MarketStreet Enterprises | 615-846-4910
We have been very encouraged by the continued activity in the Gulch, especially with regard to the unique new restaurants and retailers that are moving full steam ahead with planned developments.
Urban Flats Flatbread & Wine Co. is nearing completion, Cantina Laredo’s restaurant buildout is underway, and Casablanca Coffee will start construction shortly. The Urban Outfitters retail construction is really coming along, right on schedule.
Even in a challenging economy, quality tenants like these are attracted to the Gulch for its energy, which is unique to Nashville — an urban mixed-use neighborhood where people can live, work, shop and be
Senior vice president | Crescent Resources LLC | 615-771-0440
Cool Springs market
The Class A office market in Cool Springs is not only holding up during this tough economy, it is expanding. Because we offer what is not readily available elsewhere.
When Crescent Resources started developing in Cool Springs in 1995, there was no Class A office market. (Cool Springs) remains the leading provider today by far.
Cool Springs’ expansion is being fueled by existing growth companies in Williamson County, as well as relocations from Nashville, Brentwood and out of state.
With nearly 7.5 million square feet, businesses have numerous options from existing space or second-generation space ranging in size from 12,000 square feet to a full 200,000-square-foot building.
Richard Fleming Sr.
Principal, office building specialist | Nashville Commercial Real Estate Services LLC | 615-400-0349
Nashville-area office market
In the office arena, Cool Springs continues to dominate in 2008 with 850,000 square feet of new office space being, not only delivered, but 100 percent leased. This accounted for almost 85 percent of all leasing activity city-wide.
In the recent past, Cool Springs has been the submarket of choice for large corporate users due to the supply of modern office buildings, the proximity to executive housing and the best public schools.
This trend may shift in 2009 due to tenants downsizing and desire to reduce occupancy costs. Sublease space will become the new source of supply for the next few years.”