Loews Hotels CEO Jonathan Tisch on Wednesday will cut the ribbon on the company's new 40,000-square-foot business services center in the Fifth Third Center downtown. Loews announced plans for the center in May, pledging to bring more than 200 workers with its $12 million investment. At the 10:30 event, Tisch will be joined by Economic and Community Development Commissioner Matt Kisber and Nashville Mayor Karl Dean.
Sep 13, 2010 2:22 PM
Mayor Karl Dean this afternoon formally unveiled his plan to redevelop a corner of Hickory Hollow Mall into a community center that would recreation and health centers as well as a library and a park. The $18 million project will be accompanied by the construction in the former Hickory Hollow Dillard's space of an expo center that will become the home of many events now held at the fairgrounds. For the press release from the Mayor's Office, click here. The floor plan and renderings below were pulled together by the teams at Barge Cauthen and Gobbell Hays.
Sep 10, 2010 3:20 PM
Dana Franklin has the scoop on Kingston Springs restaurateurs Jan and Bernie Strawn's move of MacK & Kate's to the Gateway Village project on Franklin Road.
The restaurant's owners' said in a release that they are sad to leave Kingston Springs and that the decision was a hard one. "However, we have decided as a family that Franklin would be a wonderful fit for our innovative concepts and great food," they said.
Sep 10, 2010 2:10 PM
NPR's Marketplace Morning Report stopped by in The Gulch recently to talk to two young architects caught in the middle of the real estate bust.
Both Atcher and Gibson have been hired back as freelancers by their old firm. They get about half as much work as they used to. Unemployment covers the off weeks. They say they've gotten so used to their on-again, off-again jobs. It's become "what they do."
Sep 10, 2010 11:00 AM
Jeff Woods digs a little deeper into the personalities and possible motivations behind the Dean administration's deal with hotel developer Robert Rowling and finds some folks wondering if Gaylord CEO Colin Reed showed up alone to a tag team match.
Another insider says: "Nobody's said it publicly of course, but it looks like Omni came in here with such a good deal in Nashville just to screw with Reed. The fact that Rowling owns it is going to stick in Colin Reed's craw. At the end of the day, Reed's just going to have to eat it."
Sep 9, 2010 12:12 PM
SmartSpace, the Donelson commercial real estate developer that specializes in converting large old buildings, has promoted two of its executives. Jay Rosenblum, who heads up the company's property management team and oversees acquisition, finance and construction, has been named executive vice president. He had been vice president since 1999. Julie Festa has added the vice president title to her role as controller. She joined the company in 2006 after spending time at Caterpillar Financial Services and CPA firm Horne.
Sep 8, 2010 10:55 AM
Gaylord Entertainment and DMB Associates are asking Mesa., Ariz., officials for three more years to line up the financing for a 1,200-room resort and convention center on the former GM testing grounds there. Initial plans for the project were announced two years ago — with groundbreaking slated for late 2011 — but Gaylord has since invested only a deposit on its deal to buy about 100 acres. (Search here for 'DMB.')
Taylor said the companies have asked Mesa to extend their development agreements for three years. DMB also has asked Mesa for permission to create two "community facilities districts" that would issue bonds to help finance construction. If the Mesa City Council agrees to the extension, groundbreaking would now be no later than Dec. 31, 2014, with construction to wrap up by Dec. 31, 2017. "The world is just in a place that none of us anticipated (when the project was announced)," Taylor said.
Sep 3, 2010 12:53 PM
Pathway Lending is hosting a seminar next Thursday from 11 a.m. to 1 p.m. on the Energy Efficiency Loan Program launched recently by the state in conjunction with a number of partners. Pathway President Clint Gwin will lead the proceedings at 201 Venture Circle in MetroCenter. For more info, check out Pathway's site.
Sep 3, 2010 9:49 AM
It's a hot question about Nashville that, unfortunately, has a cryptic answer. All we know at the moment is the leasing team for the Nashville Medical Trade Center is working to secure long-term tenant leases for the 1.5 million-square-foot project that would expand (and beautify) the current Nashville Convention Center. There's been no official news since April, when the Healthcare Information and Management Systems Society agreed to take 25,000 square feet of space at the facility. Meanwhile, the folks in Ohio are touting a growing number of letters of intent for the medical mart planned for Cleveland. Med City News's Brandon Glenn yesterday reported the Cleveland mart's developer says it has 32 letters of intent from showroom tenants and 16 from conferences and trade shows. Of course, they're mum on exactly who those companies are. Some excerpts from Glenn's story:
The last few months have brought nary a peep from the company’s Nashville and New York rivals in the medical mart derby. That’s worth noting because many insiders believe the health care market can and will support only one medical mart in the nation, so whichever city first achieves a critical mass of tenants — whatever that might be — could get a big boost to its chances of success. After creating a big splash a year ago by announcing deals with 11 tenants — and publicly naming those prospective tenants — New York’s medical mart developers have largely been silent, leading the informed observer to suspect the project is barely clinging to life. Nashville’s developers appear to be making greater progress than New York, having announced two tenants so far this year, but they haven’t publicized a new tenant since April. Thus, it’s fair to wonder whether Nashville’s sales team has hit a brick wall in its attempt to lure prospective tenants to sign letters of intent. Cole Daugherty, a spokesman for the Nashville Medical Trade Center, said it’s important to draw a distinction between leases — which Nashville has inked with both of its announced tenants — and letters of intent — which are far less binding, if binding at all. “You build a successful trade center with long-term leases from recognized companies, not with the smoke and mirrors of anonymous letters,” Daugherty said. “We are working with a list of top companies on leases for permanent space.”Get some more background on the competing medical marts here and here.
Sep 2, 2010 12:36 PM
Note the main sources here — a property acquisition consultant to pension funds and a $12 billion investor — but based on the difference between government debt and commercial real estate yields, the latter is a compelling buy these days. But you have to find the right deal.
“It’s questionable how much growth you’re going to get,” said James S. Corl, managing director for distressed real estate investments at Siguler Guff & Co., a New York-based private- equity firm. “Yes, there is value in real estate but you’ve got to be very picky. If you pay up for existing leases, it’s very hard to manage your way out of that situation.”SEE ALSO: Signs that the local CRE market has some appealing properties
Sep 1, 2010 10:28 AM
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS