NASHVILLE, Tenn. (WKRN) — Phase one of three on a big project in The Gulch is now complete.
Gulch Union is transforming a full block between 12th and 13th Avenues and McGavock and Demonbreun Streets with construction recently wrapping up on the first part of the project: 1222 Demonbreun, a 20-story, 330,000 square foot office building with 6,000 square feet of retail on the bottom floor.
Property Manager Tony Bachman said the building caters to the modern workforce with high-end amenities and walkable city conveniences.
The building, leased by Cushman & Wakefield, attracted a roster of tenants largely focused on professional services and finance, as well as a headquarters relocation for a bio pharmaceutical company. Announced tenants, which combine for approximately 100,000 square feet of leased space, include:
With six tenants named, this leaves around 200,000 square feet of office space empty in a time where commercial real estate is struggling.
“The leasing industry has closed down a little bit due to restrictions of people getting out, but overall, we’re still seeing a lot of interested a lot of prospects being in this location,” said Bachman, “Obviously, the vaccine has come out so we think as the vaccination goes around, we’ll see more interest start to perk up after the first of the year.”
Bachman said he’s optimistic they’ll fill the space as Nashville’s low cost of doing business, combined with its educated workforce and quality of life continues to appeal to employers leaving higher cost gateway markets to move to Music City.
“We need more buildings like this because it drives the Nashville market forward,” said Bachman, “As we continue to innovate, as the commercial space starts to change and continuously alters itself, I think we need to be able to build something that will push us into the future and what that comes down to is the type of office space.”
Bachman points to the amenity floor of the office tower as one of the draws.
1222 Demonbreun has an indoor-outdoor sky lounge that overlooks downtown, a 50-person training room, a fitness center with showers and lockers and a micro market that will serve tenants around the clock.
The project also includes a 900-space gateless-entry parking garage.
Now that phase one is complete, work will begin on a boutique hotel, residential tower, shops, and restaurants.
The project remains in negotiations with a number of additional tenants on remaining space.
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