C&H Financial Services, an Illinois-based payment processor, has acquired Regal Payment Systems out of Columbia. A release on the deal doesn't provide many details but does make Regal's operation C&H's first in Tennessee and adds the First Data processing platform to its lineup. The purchase of Regal also puts C&H on track to process $5 billion in transactions this year.
So it turns out the glitzy parts of Nashville — downtown, West End, The Gulch and the like — aren't the only area office submarkets where space now costs more than $30 per square foot.
The leaders of Franklin Financial Network last week signed 15-year lease papers for almost 17,000 square feet that's been built onto their downtown Franklin headquarters by a company controlled by bank directors Henry Brockman and David Kemp.
Franklin Financial's starting rent is $33.25, which is $4.50 more than Spectrum Emery Properties is asking for its big and shiny One Franklin Park building located a few miles northeast. Even taking into account the "friendly" nature of the deal — which includes a clause allowing that rental rate to rise between 1.5 percent and 3.5 percent annually — the lease tells us the Nashville-area property market is in fine fettle, to say the least.
Check out the deal's details here.
SEE ALSO: Franklin Synergy in branch sale-leaseback with directors from late last year
The Post team is present and on top of things at the 36|86 entrepreneurship conference being hosted at Marathon Music Works by Launch Tennessee today and tomorrow. Click here to go to the our landing page on Southern/alpha, where you'll find snippets from the presenters as well as links to broader stories on various topics. Some tasters: One venture capitalist said Silicon Valley is "the last place on the planet" where his team is looking to build a promising company now and an HCA exec told the crowd his technology investment strategy is focused on need and not return.
"We don't have FOMO, because we know what we're looking for" - Will Morrow on HCA's narrow investment strategy— Southern/alpha (@SouthernAlpha) June 9, 2015
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