Pepsi moving offices downtown [1]
Pepsico is moving to the city.
The regional sales office for the soft-drink and snack giant will relocate from Goodlettsville to the third-floor of SunTrust Plaza under a sub-lease agreement with the bank.
Brian Jernigan with Eakin Partners worked the five-year deal for 3,000 square feet on the third floor of the two-year-old, 340,000-square-foot building. He said Pepsi (Ticker: PEP [2]) initially chose its Goodlettsville location because of its proximity to the corporate headquarters of Dollar General, one of its largest local clients, but decided to move downtown to better serve other clients.
"They wanted to be in this area and they liked the building," he said.
While small in terms of square footage, Pepsi's lease adds to the big names who have invested in the Central Business District in the past year. Among the other companies who have moved to or expanded downtown are Harleysville Insurance [3], Service Source and law firms Adams and Reese [4] and Baker Donelson [5].
Still, downtown's vacancy rate rose last year to 25.4 percent from about 19 percent a year before largely because of the completion of the Pinnacle at Symphony Place, which opened its doors last month with Bass Berry & Sims as its largest tenant.
- Development [6]
- Central Business District [7]
- Davidson County, Tenn. [8]
- Nashville [9]
- Dollar General Corp. [10]
- Eakin Partners LLC [11]
- PepsiCo [12]
- Brian Jernigan [13]
- Goodlettsville [14]
- Nashville office space [15]
- Nashville-area commercial real estate [16]