DOWNTOWN SIGNATURE FLEX BUILDING for SALE OR LEASE 15 LINDSLEY AVENUE Nashville, TN 37210
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OFFERING MEMORANDUM DOWNTOWN SIGNATURE FLEX BUILDING FOR SALE OR LEASE 15 LINDSLEY AVENUE Nashville, TN 37210 KOREAN VETERANS BLVD HERMITAGE AVE LAFAYETTE ST AVE S AVE S TH ND 4 2 LINDSLEY AVE 40 JAMES B FOLEY, CCIM HAYES MCWILLIAMS SALLIE WILLIAMSON Vice President Associate Associate +1 615 248 1126 +1 615 493 9223 +1 615 248 5933 [email protected] [email protected] [email protected] TABLE OF CONTENTS 04 THE OPPORTUNITY 06 BUILDING SPECIFICATIONS 08 DEVELOPMENT MAP 10 AREA ATTRACTIONS 12 DOWNTOWN DISTRICT MAP 13 MARKET OVERVIEW 14 PROCESS & OFFER INSTRUCTIONS © 2018 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners. 2 15 LINDSLEY AVENUE LINDSLEY AVENUE 40 3 THE OPPORTUNITY 4 15 LINDSLEY AVENUE LINDSLEY AVENUE THE OPPORTUNITY OFFERING HIGHLIGHTS CBRE is pleased to offer the sale or lease of the former NovaCopy + Sales Price: $7,900,000 national headquarters in downtown Nashville. The 27,500 SF foot + Lease Rate: $15.00/SF building on 0.98 contiguous acres of land is situated in the exciting downtown neighborhood known as SoBro. With prominent interstate + Availble 2nd Quarter 2018 visibility with LED monument signage, the property is also within + Building Size: 27,500 SF (subdivideable) walking distance to Rolling Mill Hill’s 34 acre river front mixed use Showroom: 7,500 SF development, Ascend Amphitheater, James Beard award winning Office: 7,500 SF Husk restaurant, Historic Howard School, the new Music City Flex: 12,500 SF Convention Center as well as several planned office, multifamily, + Prominent Interstate Visibility with LED signage (125,838 Average restaurants and hotel projects totaling over $1 Billion in active Daily Traffic Count) development. + DTC Zoning allows by right Hotel, Office, Retail, Multi-family, Self-storage, Brewery + Over $1 Billion in New Developments within 1/2 mile + Urban Infill Site Ideal for Adaptive Re-use or Development + 3 Drive in doors; 1 Dock high door + Clear Heigh: 30’ maximum; 25’ minimum + 2000 amps + Column spacing: 40’ X 40’ + 51 parking spaces plus on street parking + Fire/Life/Safety: Key card door access, monitored burglar and fire system with sprinklers 5 BUILDING SPECIFICATIONS Location: 15-19 Lindsley Ave, Nashville, TN 37210 Occupancy: Available 2nd Quarter 2018 Building Size: 27,500 SF Year Built: 1998 Stories: 2 Land Area: 0.98 Acres / 42,312 SF 093-15-0-080.00; 093-15-0-081.00; 093-15-0-082.00; Parcel No: 093-15-0-083.00; 093-15-0-084.00 Zoning: DTC, Downtown Code Ownership: Fee Simple Interest Parking: 51 total spaces plus on street parking Foundation/Structure: Concrete slab on grade with monolithic footers Exterior Walls: Masonry concrete and insulated steel panels Roof: Classic rib metal roof with polycarbonate skylights Windows: Fixed pane, insulated, clad units Interior Finishes: Drywall HVAC: Natural gas heating with electric air conditioning. Electrical: Three phase electrical service Key card door access, monitored burglar and fire system Fire/Life/Safety: with sprinklers 6 LINDSLEY AVENUE Floor Plans 1st Floor Plan 2nd Floor Plan FLEX SHOWROOM +- 12,500 SF +- 7,500 SF 15 LINDSLEY AVENUE 7 DEVELOPMENT MAP 1 2 16 3 14 17 4 10 11 KOREAN VETERANS BLVD 18 18 9 TH AVE S 7 18 8 19 8 12 13 HERMITAGE AVE LAFAYETTE ST AVE S 20 ND 15 2 21 5 6 LINDSLEY AVE 40 8 LINDSLEY AVENUE DEVELOPMENT MAP LEGEND 1 CAMBRIA SUITES - 224 ROOMS - 2017 13 THE MATHEWS CO - BARGE WAGGONER OFFICE DEVELOPMENT 2 JW MARRIOTT - 600 ROOMS - 2018 14 BRIDGESTONE NORTH AMERICAN HEADQUARTERS - 500,000 SF 3 WESTIN - 400 ROOMS - 2016 15 LIFE STYLE COMUNITIES - MULTIFAMILY DEVELOPMENT 4 MAINLAND MIXED USE 16 THE SOBRO - 313 UNITS - 2016 5 DIVISION STREET - GULCH CONNECTOR - 2017 17 HINES/RAGLAND OFFICE DEVELOPMENT - 350,000 SF OFFICE 6 PROPOSED OFFICE DEVELOPMENT 18 ROLLING MILL HILL MIXED-USE DEVELOPMENT PARCELS 7 THE BEACH CO - 296 APARTMENTS - 2017 19 CITY LIGHTS - 77 LUXURY CONDOS - 2017 8 UNDER CONTRACT - PROPOSED OFFICE TOWER 20 TERRA HOUSE - 194 APARTMENTS - 2016 9 THE OLMSTED - 330 APARTMENTS - 2017 21 RIVER FRONT APARTMENTS - 245 APARTMENTS - 2017 10 MARRIOTT - NORTH POINT - 455 ROOMS - 2017 11 THE JOSEPH - PIZZUTI CONSTRUCTION - 300 ROOMS - 2018 12 HOLIDAY INN & SUITES - 180 ROOMS - 2017 15 LINDSLEY AVENUE 9 AREA ATTRACTIONS NISSAN STADIUM PINNACLE TOWER PEDESTRIAN BRIDGESTONE ARENA SYMPHONY BRIDGE JW MARRIOTT HILTON ENCORE RIVERFRONT PARK MUSIC CITY CENTER ASCEND OMNI AMPHITHEATER WESTIN BELL TOWER PINEWOOD SOCIAL DANGURE’S CLASSIC CREMA SOUTHERN CO ROCKETOWN CITY WINERY HUSK ROLLING HILL MILL CZANN’S CHILDREN’S BREWING CO THEATER HISTORIC HOWARD SCHOOL OFFICE BLDG 3RD & LINDSLEY ACADEMY TN BREW GULCH CONNECTOR LIVE MUSIC PLACE WORKS WEHO DISTRICT 10 LINDSLEY AVENUE DOWNTOWN DISTRICT MAP METRO CENTER HOPE GERMANTOWN GARDEN CBD GULCH EAST GULCH SOBRO ROLLING HILL MILL 15 LINDSLEY AVENUE 11 MARKET OVERVIEW SoBro What once was an area made up entirely of industrial uses is now the heart of Music City’s hospitality and tourism industries. More than 1,300 hotel rooms and another 1,000 are under construction across the SoBro landscape. Demand drivers in the area include Bridgestone Arena, Music City Center and The Country Music Hall of Fame. Music City Center Music City Center is the newest addition to Nashville’s skyline. The new Convention Center is over 2.1 million SF and spans more than six city blocks. The Center is also Nashville’s newest LEED Silver Certified building. The Nashville Visitors and Convention Bureau has booked 101 trade shows for the new Center so far. That list includes 37 organizations that have never held events in Nashville. Bridgestone Arena Bridgestone Arena, which opened in 1996, has hosted more than 12 million guests. The Arena has hosted the NCAA Men’s and Women’s Basketball Tournament, the NCAA Women’s Final Four, CMA and CMT Awards, and was named 2007 Pollstar Concert Venue of the Year. The Arena is currently the home of Nashville’s NHL Franchise, The Nashville Predators. The Predators pack an average of 16,600 fans into Bridgestone Arena for 41 nights a year. 12 LINDSLEY AVENUE The Gulch Nashville’s Gulch Neighborhood is the center of Nashville’s Urban Renaissance. The Gulch is the south’s first LEED certified neighborhood. Master planning of the Gulch began in 2001, and the area was officially designated a special district in 2006. Since then, more than 2,000 condos and apartments, 200 hotel rooms, and 600,000 SF of Class A Office has been developed. The Gulch enjoys the highest rents, condo prices, and office rents in Metro Nashville. The growth of the gulch has seeped into the neighboring North and East Gulch. The North Gulch is home to the 300,000 SF HQ to HCA affiliates, and the Boyle Capitol View project. Capitol View will also be home to over 1,000 multi-family units, 700,000 SF of additional office space, and 300,000 SF of retail. The East Gulch stands at the strategic intersection of the Gulch and SoBro. The East Gulch is also home to the most luxurious hotel developments in Nashville, including the JW Marriott and Westin Hotels. A full service Hyatt is planned for the area offering over 1,500 4 star hotel rooms within a block from 852 13 MARKET OVERVIEW Nashville, Tennessee, has captured national and global attention over the past decade NASHVILLE, TENNESSEE as a unique and exciting destination for business, entrepreneurship, the medical Accolades ECONOMICS business sector, and of course entertainment. Nashville is the “It City” with its abundant Time Magazine Nashville has had the strongest employment growth of any large options for a live-work-play lifestyle. 1 metropolis since the ‘Great Recession’. It was the second-fastest- growing U.S. city for most of 2013 and the only one in the top four outside of oil-booming Texas. The Nashville market has risen to one of the strongest and most vibrant economies in Time Magazine Nashville’s cost of living is cheaper than the U.S. average by over 13%. Office vacancies fell to 10.4% from 12.3%, among the 10 the U.S. Nashville’s ideal geographic location in the heart of the U.S., a skilled workforce biggest declines in the U.S. markets in 2013. fueled by 100,000 college students in the region and a low cost of living, which is over Brookings Global Nashville ranks 86th globally for economic performance out of the 13% below the national average, all enhance Nashville’s already lively economy. MetroMonitor world’s 300 largest metropolitan economies. Strong fundamentals have attracted developers to be active in this metro, and Nashville Forbes Nashville ranks in the top ten “Best Cities for Business”.