2. NASHVILLE OFFICE MARKET – 2011
Nashville’s Vacancy Decreases to 10.2%
Dear Friends and Clients,
Nashville’s overall Office Market has continued to strengthen in 2011. The market
ended the first quarter of 2011 with a vacancy rate dropping to 10.2% from 10.6% at
the end of 2010, as companies continue to take space off the market and appear to
have better visibility going forward.
Some of the more notable transactions were Jackson National Life Insurance moving
into 154,737 square feet at One Greenway Centre; Griffin Technology moving into
40,000 square feet at 700 Benton Ave; and Sherrard & Roe moving into 29,947 square
feet at The Pinnacle at Symphony Place. HealthSpring continued their growth and
consolidation in MetroCenter, recently signing on for an additional 75,000 square feet
to bring the total to 175,000 square feet for the two phase project developed by
Southeast Venture.
Two buildings were delivered to the overall Nashville market in the first quarter
totaling 58,000 square feet, with 424,667 square feet still under construction.
We at Southeast Venture are fortunate to be located in such a great city, and truly
appreciate the opportunities our clients have afforded us. We look forward to serving
you in the future. From Left to Right Direct Phone Email
Best Regards, Axson West, CCIM 615.250.8670 awest@southeastventure.com
Southeast Venture, LLC
Coleman Boyd 615.250.8658 cboyd@southeastventure.com
Jon Petty 615.743.9387 jpetty@southeastventure.com
Todd C. Alexander Jimmy Pickel 615.250.8674 jpickel@southeastventure.com
Director of Brokerage Services - Principal Tarek El Gammal 615.743.9386 telgammal@southeastventure.com
JT Martin, CCIM 615.250.8669 jtmartin@southeastventure.com
Todd Alexander 615.250.8672 talexander@southeastventure.com
John Cavin 615.250.8675 jcavin@southeastventure.com
Gilbert Smith 615.833.9484 gsmith@southeastventure.com
Alan Treadway 615.743.9389 atreadway@southeastventure.com
Michael Finucane 615.250.8671 mfinucane@southeastventure.com
Southeast Venture is a fully integrated real estate services
company with six disciplines including Brokerage, Greg Coleman, CCIM 615.250.6370 gcoleman@southeastventure.com
Development Management, Property Management, Architecture, Ashley Bishop (not pictured) 615.250.8684 abishop@southeastventure.com
Interior Design and Landscape Management.
Southeast Venture Brokerage Team
3. SOUTHEAST VENTURE’S RECENT TRANSACTIONS SOUTHEAST VENTURE’S RECENT TRANSACTIONS
Raymon-Donco 1,350 Saint Thomas Health Services 62,000
Advantage Human Resources 1,500 Tennessee Lottery 65,056
Renasant Bank – Green Hills 1,608 J.E. Crain & Son, Inc. 67,132
Two Moon Gallery 1,614 US Postal Service 86,360
Gulfwestern, Inc. 1,825 Central Woodwork 100,000
SHI International Corp. 1,903 Department of Human Services 133,363
Herron Travel Agency 2,075 Healthspring 173,352
New Constructs 2,259 Department of Labor 242,000
All Tech Electric 2,400
Covenant Partners 2,492 Art of Aesthetics (Dental Lab processing Company)
Turnberry Homes 2,884 Liberty Mutual
Social Security Administration 3,288 PAI Medical Group
RPM & Associates 4,000 Center for Spine, Joint, and Nueuromuscular Rehabilitation
Renasant Bank – Cool Springs 4,012 Elite Audiology
Rodefer Moss 4,471 Totty Chiropractic
Gluck Orthodontic Practice 5,600 Foster Dental Group
Health Infotechnics 5,772 The Wills Company
Nashville Humane Association 6,000 Digital Reasoning Systems Inc.
Pinnacle Bank 6,400 Kemberton Healthcare Services
Aquaeter, Inc 6,436 Media Complete
Procter & Gamble 6,693 CFO Business Solutions
Cumberland Consulting Group 6,734 RW Baird
Dr. Lou Laratta 6,736 AOL
Sterling Primary Care 9,000 Irby Investments
CTC, Inc. 9,500 Brunco, LLC
Lakeview Properties 10,868 Crichton Group
ENSAFE 11,944 Genises Career Group
EEOC 12,943 Provence & Haley
AECOM 13,646 Solidus
Fresenius Medical 13,897 Endodontic Associates
Frank Moore Holdings 14,522 Logans Roadhouse
Cross Country Education 16,879
Policy Studies, Inc. 18,272
NORTEL 20,129
Lead Academy 20,493
Brown & Caldwell 22,698
Saint Thomas Hospital 26,000
Lakeview Properties 34,248
Cenwood 35,000
Nashville School of Law 35,000
Aegis Laboratories 35,000
Pinnacle Business Products 40,000
Accredo Health 50,000
Office Case Studies
4. Nashville Area Office Submarkets
Total Office Market Statistics
1 - Airport North & South
Existing Inventory Vacancy YTD Net YTD Under Quoted
2 - Brentwood
Market # Blds Total RBA Direct SF Total SF Vac % Absorption Deliveries Const SF Rates
3 - Cool Springs Airport North 249 5,954,365 527,204 595,044 10.0% (5,682) 0 34,052 $17.82
4 - Downtown Airport South 701 6,765,667 913,918 943,478 13.9% 48,946 34,000 0 $14.79
5 - Green Hills / Music Row Brentwood 173 6,686,158 459,471 482,742 7.2% 84,908 0 23,000 $20.86
6 - MetroCenter Cool Springs 371 9,104,178 961,924 1,038,173 11.4% 58,667 0 0 $21.60
7 - Rivergate / Hendersonville Rivergate
Downtown 285 12,941,446 1,855,913 2,111,110 16.3% 79,900 0 0 $18.98
8 - West End so
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k. Mall Green Hills/Music Row 570 5,693,173 263,251 277,446 4.9% 17,584 0 34,900 $18.92
DAVIDSON er MetroCenter 89 2,677,899 126,304 142,304 5.3% (2,395) 0 52,000 $17.37
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65 7 Rivergate/Hendersonville 565 4,762,154 431,545 431,545 9.1% 12,898 24,000 0 $15.73
Wh
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ck Totals 3,382 63,560,493 6,033,615 6,531,097 10.2% 307,062 58,000 346,066 $18.67
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Office Market Overview - Nashville MSA
5. Year Rentable Total Avge
%
AIRPORT NORTH & SOUTH Building Address Building Name City Built Building Available Leased Rent
(SF) Space (SF) ($PSF)
Market Conditions 2011
3001 Armory Dr Armory Oaks Nashville 1998 34328 4471 86.98 Neg
5505 Edmondson Pike Edmondson Pike Medical Center Nashville 2002 34406 8166 76.27 $13.50
2875-2889 Elm Hill Pike MAC Business Ctr I Nashville 1999 35412 30880 100 $13.50
211 Donelson Pike Cameron Park Nashville 1985 38136 5516 87.55 $10.87
750 Massman Dr Building E Nashville 1969 41000 1825 95.55 $9.86
320 Plus Park Blvd Nashville 1987 41136 41136 0 Neg
3055 Lebanon Pike Building 2 Nashville 1988 43341 3384 94.85 $16.50
2105-2107 Elm Hill Pike Elm Hill Professional Bldg Nashville 1999 44000 5700 87.05 $15.50
2950 Kraft Dr Nashville 1998 45000 15120 66.4 $15.00
811 Royal Pky MAC Business Ctr II Nashville 1990 45217 45217 100 $13.25
828 Royal Pky Metropolitan Airport Ctr II Nashville 1997 51064 2588 94.93 $16.75
1451 Elm Hill Pike Park Elm Plaza Nashville 1974 55000 8503 94.55 $10.21
51 Century Blvd Century City Plaza I Nashville 1986 56161 11801 78.99 $17.50
719 Thompson Ln 100 Oaks Office Bldg Nashville 1968 58085 28460 100 $22.00
53 Century Blvd Nashville 1988 60000 2942 95.1 $16.50
2630 Elm Hill Pike Lakeview Ridge II Nashville 1998 61806 12921 79.09 $17.50
3354 Perimeter Hill Dr Perimeter Park II Nashville 1986 64337 4434 93.11 $15.46
301 S Perimeter Park Dr Perimeter Park I Nashville 1982 65348 4331 93.37 $13.50
3343 Perimeter Hill Dr Perimeter Centre (Per Prk III) Nashville 1985 66214 4213 100 $15.00
1 Bridgestone Pky Career Education Corp. Building Nashville 1988 66263 22087 100 $17.00
801 Royal Pky Metropolitan Airport Ctr I Nashville 1996 75506 10525 90.5 $16.75
616 Marriott Dr Highland Ridge IV Nashville 1985 79492 22664 80.73 $18.50
1161 Murfreesboro Rd Executive South Nashville 1974 81743 50094 38.72 $12.00
2501 McGavock Pike Two Rivers Corp Centre - Bldg III Nashville 2002 91851 16245 85.41 $16.25
5653 Frist Blvd Hermitage 1994 91925 4917 94.65 $18.00
441 Donelson Pike Point Place I Nashville 1984 93089 11068 88.11 $9.00
3011 Armory Dr Armory Hill Nashville 1999 96000 4402 95.41 $19.26
397 Wallace Rd Southern Hills Medical Center Nashville 1988 99460 19216 84.88 $16.50
301 Plus Park Blvd 301 Center Nashville 1972 103392 80000 22.62 $16.92
3901 Central Pike Summit Outpatient Center Hermitage 1999 109483 28288 74.16 $19.00
15 Century Blvd Two Lakeview Place Nashville 1988 114592 43776 84.56 $18.50
25 Century Blvd One Lakeview Place Nashville 1986 116677 64551 62.56 $17.42
402 BNA Dr Building 100 Nashville 1984 116750 19662 90.08 $17.50
404 BNA Dr Building 200 Nashville 1984 116750 15714 86.54 $17.50
3055 Lebanon Pike Building 3 Nashville 1988 128674 12639 100 $16.50
2 International Plaza Dr International Plaza Nashville 1975 134000 45252 75.03 $15.65
2636 Elm Hill Pike Lakeview Ridge III Nashville 1998 134132 7850 94.15 $18.00
2451 Atrium Way Landers Plaza Nashville 1986 134265 14726 95.86 $15.50
22 Century Blvd Three Lakeview Place Nashville 2000 149700 30225 91 $19.50
2501 McGavock Pike Two Rivers Corp Centre - Bldg I Nashville 2002 153816 53408 66.58 $16.25
545 Marriott Dr Highland Ridge III Nashville 1984 164349 24034 96.2 $17.59
555 Marriott Dr Highland Ridge II Nashville 1984 171733 19967 88.37 $18.00
100 Centerview Dr Commerce Center East Nashville 1984 235000 25382 97.26 $14.00
535 Marriott Dr Highland Ridge Tower Nashville 2000 309947 6272 97.98 $21.50
Office Market Review - Nashville MSA
6. BRENTWOOD Year Rentable Total % Avge
Building Address Building Name City Building Available Leased Rent
Market Conditions 2011 Built
(SF) Space (SF) ($PSF)
5214 Maryland Way Gardner Building Brentwood 1985 47000 4890 89.6 $19.50
500 Wilson Pike Cir Brentwood 1998 47250 16204 65.71 $15.00
5110 Maryland Way Center Court Bldg Brentwood 1986 58638 11916 93.73 $21.25
101 Winners Cir EMI/Sparrow Bldg Brentwood 1982 59656 100 -
101 Westpark Dr Harpeth on the Green I Brentwood 1984 60200 1444 97.6 $22.00
105 Westwood Pl Harpeth on the Green V Brentwood 1998 65755 100 -
278 Franklin Rd Synergy Building IV Brentwood 1986 67121 1702 97.46 $19.50
214 Centerview Dr Synergy Building VI Brentwood 1996 67610 11786 82.57 $20.00
216 Centerview Dr Synergy Building VII -- Natchez Brentwood 1998 67732 17629 78.42 $20.50
215 Centerview Dr Synergy Building III Brentwood 1984 67798 3240 100 $19.50
783 Old Hickory Blvd Brentwood Highlands Brentwood 1975 69479 5685 91.82 $18.00
5310 Maryland Way Maryland Farms Office Park Brentwood 1994 69617 100 -
214 Overlook Cir Overlook I Brentwood 1988 70210 4009 94.29 $19.25
5141 Virginia Way Virginia Way Plaza Brentwood 2001 76457 15725 88.71 $21.55
100 Winners Cir Brentwood 1988 76676 31647 58.73 $20.50
109 Westpark Dr Harpeth on the Green II Brentwood 1984 78641 4170 94.7 $20.00
105 Westpark Dr Harpeth on the Green III Brentwood 1987 79522 9536 88.01 $20.00
5880 Nolensville Pike Nashville 1989 82000 82000 100 $16.00
201 Summit View Dr The Summit Building Brentwood 1983 82000 1967 100 Neg
105 Continental Pl Quorum I Brentwood 1994 82399 100 -
5409 Maryland Way Gateway Plaza 1 Brentwood 1996 84081 25159 73.52 $20.50
5001 Maryland Way Brentwood 1995 84339 100 -
2 Maryland Farms Eastpark II Brentwood 1978 85821 8871 94.75 $19.50
5300 Virginia Way Brentwood 2001 88162 100 -
750 Old Hickory Blvd Brentwood Commons II Brentwood 1984 93000 8354 94.6 $20.50
750 Old Hickory Blvd Brentwood Commons I Brentwood 1984 93000 13854 92.27 $20.50
5200 Virginia Way Park Center at Maryland Farms I Brentwood 2001 95256 100 -
5250 Virginia Way Park Center at Maryland Farms II Brentwood 2001 95280 3525 96.3 $24.00
111 Westwood Pl Westpark Building Brentwood 1982 96853 42269 100 $19.25
9020 Overlook Blvd Horizon Center Brentwood 1999 105046 4398 95.81 $21.50
103 Powell Ct Highwoods Plaza II Brentwood 1996 105191 100 -
5200 Maryland Way Parklane Building Brentwood 1981 110347 11258 90.18 $20.50
10 Cadillac Dr Creekside Crossing II Brentwood 1999 116390 1712 98.53 $22.00
5500 Maryland Way Gateway II Office Complex Brentwood 2007 117000 100 -
6 Cadillac Dr Creekside Crossing I Brentwood 1998 117382 18856 83.94 $22.00
8 Cadillac Dr Creekside Crossing III Brentwood 2006 125186 100 -
12 Cadillac Dr Creekside Crossing IV Brentwood 2007 126697 14504 94.48 $23.13
210 Westwood Pl Westwood South Brentwood 1999 127324 66085 48.1 $22.00
7101 Executive Center Dr Synergy Building V Brentwood 1987 131084 100 -
155 Franklin Rd The Ramparts of Brentwood Brentwood 1990 131087 100 -
320 Seven Springs Way Seven Springs I Brentwood 2001 133885 32364 75.83 $23.00
Office Market Review - Nashville MSA
7. Table 1
COOL SPRINGS Building Address Building Name City
Year Rentable Total % Avge
Building Available Leased Rent
Market Conditions 2011 Built
(SF) Space (SF) ($PSF)
512 Autumn Springs Ct Franklin 1999 23100 3094 86.61 $14.50
6640 Carothers Pky Eight Corporate Centre Franklin 2006 165061 82767 89.44 $22.95
7100 Commerce Way Cool Springs Commons - Bldg I Brentwood 1983 250000 2179 99.53 $19.50
341 Cool Springs Blvd Aspen Grove Office I Franklin 1999 85928 2384 97.23 $22.00
342 Cool Springs Blvd Cool Springs Business Plaza Franklin 1999 15787 4109 73.97 $15.00
720 Cool Springs Blvd Cool Springs I Franklin 1999 159840 27399 82.86 $23.00
725 Cool Springs Blvd Cool Springs III Franklin 2006 157369 54697 86.77 $23.33
730 Cool Springs Blvd Cool Springs II Franklin 2001 209221 10440 97.39 $23.00
741 Cool Springs Blvd 741 Cool Springs Blvd Franklin 1998 60737 13285 78.13 $20.00
751 Cool Springs Blvd Alliant Center Franklin 2010 33500 15534 69.45 $16.00
1000 Corporate Center Dr One Meridian Brentwood 1997 130681 7192 94.5 $23.00
501 Corporate Centre Dr Two Meridian Franklin 1997 149319 20415 98.93 $23.00
800 Crescent Centre Dr Three Corporate Centre Franklin 1998 133460 80128 83.63 $22.57
810 Crescent Centre Dr Four Corporate Centre Franklin 1999 132479 15825 88.05 $22.75
830 Crescent Centre Dr Six Corporate Centre Franklin 2000 150045 42790 80.27 $22.75
840 Crescent Centre Dr Seven Corporate Centre Franklin 2001 131390 42918 94.94 $22.75
1897 Gen George Patton Dr Patton's Corner Franklin 1999 18056 4034 100 $14.00
206 Gothic Ct Mallory Station IV Franklin 2000 23731 16769 29.34 $14.50
8119 Isabella Ln Liberty Place Brentwood 2007 36000 5513 84.69 $18.50
370 Mallory Station Rd Mallory Station V Franklin 2001 27316 2649 90.3 $13.75
2000 Meridian Blvd Franklin 2007 41835 4134 92.15 $24.33
1650 Murfreesboro Rd Offices Reserve at Cross Creek Franklin 2004 30000 6311 88.2 $22.70
225 Noah Dr Franklin 1999 20000 10000 50 $14.00
235 Noah Dr Franklin 2002 22500 18000 20 $14.50
357 Riverside Dr 357 Office Building Franklin 1980 42202 19400 54.03 $16.19
377 Riverside Dr Energy Park I Franklin 1983 46537 30379 79.18 $16.50
381 Riverside Dr Energy Park II Franklin 1997 54453 9147 83.2 $17.50
302 S Royal Oaks Blvd Franklin 1988 21242 21242 0 $13.00
113 Seaboard Ln Dover Centre A Franklin 1999 40000 1785 95.54 $19.25
113 Seaboard Ln Dover Centre B Franklin 1999 41541 17921 76.23 $19.25
113 Seaboard Ln Dover Centre C Franklin 1999 36687 18386 49.88 $19.25
117 Seaboard Ln Dover Centre D Franklin 2001 38058 18186 100 $19.25
117 Seaboard Ln Dover Centre F Franklin 2001 32823 5702 82.63 $19.25
300 Seaboard Ln Autumn Springs Franklin 1996 19797 10534 46.79 $12.14
325 Seaboard Ln Aspen Corporate Ctr 100 Franklin 2005 47168 10471 77.8 $14.00
105 Southeast Pky Southeast Business Center Franklin 1987 24120 1443 94.02 $9.14
145 Southeast Pky Franklin 1998 22622 9380 58.54 $15.50
1612 Westgate Cir Westgate Plaza Office Condos Brentwood 2004 23343 1260 97.6 $23.17
1620 Westgate Cir Protective Life Bldg Brentwood 1998 31634 9137 85.88 $22.50
1624 Westgate Cir Westgate Commons I Brentwood 2001 20861 8761 77.24 $18.50
3351 Aspen Grove Dr Building 3 Franklin 2008 20046 2950 100 Neg
Office Market Review - Nashville MSA
8. Year Rentable Total Avge
%
DOWNTOWN Building Address Building Name City Built Building Available Leased Rent
(SF) Space (SF) ($PSF)
Market Conditions 2011
210 12th Ave S The Scene Nashville 1987 21395 1000 95.33 $22.50
444 James Robertson Pky Nashville 1969 24077 5481 77.24 Neg
105 Broadway Basin Alley Bldg Nashville 1935 27243 7500 100 $16.00
306 Gay St Realtors Building Nashville 1980 27908 14523 70.16 $14.54
631 2nd Ave S Litterer Laboratories - VU Nashville 1895 30000 14046 53.18 $18.00
221 4th Ave N Nashville Bank of Commerce Nashville 1900 31703 11723 63.02 $17.50
101 Church St One Church Street Nashville 1881 34144 16600 100 $14.25
161 Rosa L. Parks Blvd Historic Frost Building Nashville 1916 36929 36929 0 $17.00
144 2nd Ave N Pilcher Bldg Nashville 1915 37620 9000 78.73 $12.60
213 Rosa L. Parks Blvd Freedom Center Nashville 2000 39063 13660 65.03 $16.00
530 Church St Cornerstone Square Nashville 1900 40609 5000 87.69 $11.78
501 Union St 501 Union Bldg Nashville 1974 44275 6200 100 Neg
814 Church St M Capital Ctr Mastrapasqua Nashville 1935 47483 40500 14.71 $15.00
1101 McGavock St Nashville 1948 51000 12000 100 $21.50
211 7th Ave N David G. Stone Building Nashville 1982 55013 28091 87.81 $16.52
111 10th Ave S Baggage Building Nashville 1898 58250 7973 100 $16.00
214 N Second Ave Nashville 1900 60240 12331 79.53 $15.25
124 S 12th Ave Braid Office Building Nashville 1961 62997 10849 100 $25.00
500 Church St St. Cloud Corner Nashville 1800 76588 21913 71.39 $17.20
150 2nd Ave N Nashville Sash & Door Nashville 1906 77712 25486 67.2 $14.00
230-232 4th Ave N Wachovia Plaza Nashville 1974 78000 39781 49 $15.63
172 2nd Ave N Nashville 1882 80000 43700 45.38 $12.79
200 4th Ave N Noel Place Nashville 1929 82477 5330 93.54 $15.00
700 12th Ave S Terrazzo Nashville 2009 95000 51746 45.53 $24.71
807 Demonbreun St Nashville 1957 106014 29361 100 $15.34
315 Union St Nashville Trust Building Nashville 1926 108000 8000 92.59 $14.00
611 Commerce St Renaissance Tower Nashville 1987 111000 9876 92.55 $18.44
330 Commerce St 330 Commerce Street Nashville 1986 118082 28673 75.72 $18.00
701 Broadway Customs House Nashville 1879 142711 29834 80.72 $13.28
222 N 2nd Ave Nashville 1890 167501 39437 76.46 $15.25
214-222 2nd Ave N Washington Square Nashville 1890 202292 57739 72.1 $15.25
404 James Robertson Parkway Towers Nashville 1968 204574 14364 92.98 $12.00
211 Commerce Ctr Commerce Center Nashville 2000 228567 36240 84.14 $23.50
201 4th Ave N Fourth & Church Building Nashville 1968 250566 96264 61.58 $18.00
401 Church St L & C Tower Nashville 1955 276818 12358 95.54 $16.50
401 Commerce St SunTrust Plaza Nashville 2007 338000 61047 85.08 $25.63
150 4th Ave N One Nashville Place Nashville 1985 392217 48418 87.66 $22.25
209 10th Ave S Cummins Station Nashville 1910 400000 82704 86.35 $18.05
414 Union St Bank of America Plaza Nashville 1977 436399 77421 89.62 $17.69
300-350 Deaderick St Public Square Nashville 1975 437360 20812 100 $13.87
511 Union St Nashville City Center Nashville 1988 480224 38177 92.05 $23.39
424 Church St Fifth Third Center Nashville 1986 488853 149513 71.78 $20.30
Office Market Review - Nashville MSA
9. Year Rentable Total Avge
%
GREEN HILLS Building Address Building Name City Built Building Available Leased Rent
(SF) Space (SF) ($PSF)
Market Conditions 2011
2325 Crestmoor Rd Crestmoor Bldg Nashville 1971 23500 950 95.96 $22.00
2400 21st Ave S Nashville 23520 100 -
2135 Blakemore Ave Nashville 1975 23705 100 -
2207 Crestmoor Rd Hillsboro View Nashville 1971 23994 6000 74.99 $21.00
4235 Hillsboro Rd GS&F Building Nashville 1974 24000 100 -
3811 Bedford Ave Nashville 2008 24000 3927 100 Neg
2400 Crestmoor Rd Nashville 1974 24872 1330 94.65 $22.50
1300-1302 Division St Young Executive Building Nashville 1978 25010 100 -
34 Music Square E Nashville 1965 26430 100 -
1 Music Cir N Nashville 1990 27000 100 -
2505 21st Ave S Wright Travel Building Nashville 1985 27500 9019 100 $21.00
3825 Bedford Ave Bedford Commons II Nashville 2006 28160 100 -
2 Music Sq W ASCAP Building Nashville 1992 30413 100 -
8 Music Sq W Sony Publishing Nashville 1973 30413 100 -
2323 21st Ave S Linden Building Nashville 1983 30500 2033 93.33 $17.00
1207 17th Ave S 1207 Building Nashville 1984 32800 100 -
2021 Richard Jones Rd Econotech Building Nashville 1985 33000 2638 92.01 $19.49
2401 21st Ave S Nashville 1973 33150 100 -
25 Music Sq W Nashville 1997 33535 100 -
1001 Hawkins St Nashville 1980 34867 100 -
3817 Bedford Ave Bedford Commons I Nashville 2006 35200 100 -
4212 Stammer Pl Nashville 1975 35408 100 -
18 Music Sq E Nashville 1994 37037 100 -
1025 16th Ave S Nashville 1987 39052 100 -
55 Music Sq W Nashville 1971 39665 100 -
54-60 Music Sq E Nashville 1985 40879 3214 92.14 $24.50
4301 Hillsboro Rd Nashville 1975 41919 100 -
2000 Glen Echo Glen Echo Bldg Nashville 1981 43975 3123 95.32 $18.24
50 Music Row United Artist Tower Nashville 1974 45000 42000 6.67 $18.00
2416 21st Ave S Nashville 1975 47000 13459 71.36 $17.50
40 Music Sq W Nashville 1995 49864 100 -
1001 19th Ave S Kern Building Nashville 52904 100 -
3810 Bedford Ave Freeman Webb Building Nashville 2009 55196 100 -
2021 21st Ave S Nashville 1902 55424 100 -
49 Music Square W Nashville 1975 60407 4893 100 Neg
2000 Richard Jones Rd Century Plaza Nashville 1972 61672 15926 74.18 $23.26
4205-4219 Hillsboro Rd Hillsboro Hobbs Buildings Nashville 1975 70000 100 -
2002 Richard Jones Rd Green Hills Office Park Nashville 1973 87944 52899 39.85 $30.39
1500 21st Ave S Village at Vanderbilt - Office Nashville 1989 97482 100 -
30 Burton Hills Blvd Burton Hills II Nashville 1987 100630 11555 94.45 $27.50
1 Burton Hills Blvd Burton Hills I Nashville 1985 114570 2550 97.77 $27.00
20 Burton Hills Blvd Burton Hills III Nashville 1997 116000 100 -
220-2200 21st Ave S Kinnard's Corner Nashville 1982 132576 13065 90.15 $18.00
Office Market Review - Nashville MSA
10. METROCENTER Year Rentable Total % Avge
Building Address Building Name City Building Available Leased Rent
Market Conditions 2011 Built
(SF) Space (SF) ($PSF)
220 Athens Way Plaza I Nashville 1985 134111 20108 100 $17.50
260 Cumberland Bnd Nashville 1979 15042 15042 0 $10.95
227 French Landing Dr Heritage Place Nashville 1985 107782 6198 94.25 $16.75
501 Great Circle Rd First Image Building Nashville 1985 109288 25178 76.96 $15.00
545 Mainstream Dr Riverview Office Bldg Nashville 1982 86676 11286 98.78 $13.10
2200 Rosa L Parks Blvd Nashville 1987 125650 42403 83.54 $15.13
1 Vantage Way Nashville 1974 146240 19618 90.01 $16.35
44 Vantage Way Vantage Place Nashville 1981 166656 89961 92.92 $16.50
50 Vantage Way Nashville 1976 45000 14223 68.39 $15.00
2208 9th Ave N Nashville 2000 35645 20800 41.65 Neg
810 Dominican Dr The Filmhouse Building Nashville 1996 33386 2000 94.01 Neg
220 Venture Cir Nashville 1982 16000 16000 100 Neg
HealthSpring Ground Breaking Ceremony
Office Market Review - Nashville MSA
11. RIVERGATE / HENDERSONVILLE Year Rentable Total % Avge
Building Address Building Name City Building Available Leased Rent
Market Conditions 2011 Built
(SF) Space (SF) ($PSF)
100 Bluegrass Commons Blvd Bldg II Hendersonville 2005 41873 14803 89.74 $18.50
207C N Broadway Portland 16000 1300 91.88 $7.38
100 Country Club Dr Club Place Hendersonville 2007 31000 4362 85.93 $18.13
100-148 Cude Ln Rivergate Business Center Madison 1988 65120 12154 81.34 $12.00
113 Cumberland Ave Madison 1973 16678 16678 0 $9.75
3250 Dickerson Rd Skyline Professional Center Nashville 1973 27972 5800 79.26 $12.00
1160 Due West Ave Due West Professional Bldg Madison 1966 48910 8220 86.87 $12.45
1994 Gallatin Rd N Rivergate Park Office Building Madison 1975 24810 11900 92.34 $14.00
110 Glancy St Rivergate Office Condos Bldg 1 Goodlettsville 1989 20000 5328 100 $10.58
110 Glancy St Rivergate Office Condos Bldg 2 Goodlettsville 1989 20000 2412 100 $8.00
107 Imperial Blvd Hendersonville Pro Associates Hendersonville 1980 21000 5506 73.78 $13.50
165 Indian Lake Blvd Indian Lake Professional Building Hendersonville 25315 3284 87.03 $16.21
800 Main St Nashville 1969 110000 110000 100 $14.50
270-278 E Main St Brooks Building Gallatin 1958 19781 9724 50.84 $10.00
919 W Main St Lakeview Plaza Hendersonville 1975 15800 4000 74.68 $13.00
130 N Maple Dr N The ShoLodge Building Hendersonville 1997 39180 4200 89.28 $18.00
1000 Northchase Dr One Northchase Nashville 1988 51680 9005 82.58 $17.50
131 Saundersville Rd Parkside Plaza I Hendersonville 2008 50118 3795 100 $21.50
121 Village Dr Portland 1996 15392 14500 5.8 Neg
100 Bluegrass Commons Blvd Bldg I Hendersonville 2003 50000 1164 100 Neg
610 W Due West Ave Memorial Office Towers Madison 1970 227000 1210 100 Neg
604 Gallatin Ave Nashville 1978 57845 15000 74.07 Neg
Office Market Review - Nashville MSA
12. WEST END Year Rentable Total % Avge
Building Address Building Name City Building Available Leased Rent
Market Conditions 2011 Built
(SF) Space (SF) ($PSF)
121 21st Ave N 21st Plaza Nashville 1980 25893 1890 92.7 $15.89
210 25th Ave N Parkview Towers Nashville 1976 125262 21744 82.64 $21.51
110 29th Ave N Centennial Plaza Nashville 1984 21540 1268 94.11 $19.00
206-210 30th Ave N 30 North Nashville 2010 36000 31050 13.75 $21.50
1700-1704 Charlotte Ave Midtown Millworks Nashville 1900 46436 4946 89.35 $8.00
1919 Charlotte Ave Meharry Medical Arts Center Nashville 2003 38194 1650 95.68 $20.00
2300 Charlotte Pike Charlotte 2300 Pro Office Center Nashville 1927 26900 9718 63.87 $18.00
1506 Church St Nashville 1948 10835 2200 79.7 $17.00
1800 Church St Plaza 18 Nashville 1984 33501 12765 61.9 $18.50
1900 Church St Signature Center Nashville 1989 50235 12405 76.06 $19.50
2010 Church St Mid-State Medical Building Nashville 1960 107233 25941 75.81 $20.00
1600 Division St RoundAbout Plaza Nashville 2004 205000 10806 97.1 $28.50
2214 Elliston Pl Elliston Place Nashville 2004 24000 4100 82.92 $24.00
4525 Harding Pike Nashville 1975 49000 3500 92.86 $25.00
4535 Harding Pike Nashville 1984 26000 2200 96.15 $23.36
1700 Hayes St Nashville 1920 16000 10100 36.88 $16.50
1916 Patterson Doctor's Pavilion Nashville 1979 59917 10629 82.26 $19.50
1817 Patterson St Nashville 1984 13459 5606 58.35 $12.00
1900 Patterson St Nashville 1978 22308 4423 80.17 $23.00
2400 Patterson St Physician's Park MOB Nashville 1992 197504 3807 98.79 $23.00
2908-2910 Poston Ave Nashville 12000 4000 79.17 $26.13
2222 State St 2222 State Nashville 1973 18336 2904 84.16 $22.00
1701 West End Bill Hudson Associates Nashville 1950 22000 9094 100 $15.15
1720 West End Ave Nashville 1962 55000 16259 75.48 $18.85
1801 West End Ave Palmer Plaza Nashville 1986 243056 37112 88.53 $23.21
2100 West End Ave Nashville 1983 128500 20840 90.38 $24.00
2817 West End Ave Park Place Nashville 1985 30100 1560 94.82 $22.00
3100 West End Ave One American Center Nashville 1986 208596 30489 93 $26.61
3102 West End Ave Two American Center Nashville 1998 204012 73668 98.52 $28.50
3212 West End Ave Westpark Bldg Nashville 1984 33041 7533 77.2 $20.00
3301 West End Ave Nashville 1910 10000 1800 100 $16.00
3310 West End Ave Nashville 1981 107137 18020 97.74 $21.00
3401 West End Ave Nashville 1982 277706 26426 90.48 $24.00
85 White Bridge Rd Nashville 2007 34907 19782 43.33 $18.50
95 White Bridge Rd Cavalier Building Nashville 1966 75935 17134 80.28 $16.50
102 Woodmont Blvd Woodmont Centre II Nashville 1989 99648 15142 100 $24.00
3200 West End Ave Nashville 1975 17689 13200 100 Neg
3322 West End Ave Nashville 1986 215666 627 99.71 Neg
Office Market Review - Nashville MSA
13. Celebrating 30 Years
Nashville - TN
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