New One Nashville Tenant Brings Occupancy to 99 Percent
By Eliza Theiss, Associate Editor
One Nashville Place, one of Music City’s most attractive office towers, has landed a new tenant bringing its overall occupancy to 99 percent. Daymark Realty Advisors has announced signing leading financial institution Region Bank for a 12.5-year lease at the downtown business districts skyscraper. Region Bank will occupy 100,000 square feet at the Class A office tower which will contain Regions’ Mid-American region and Middle Tennessee area headquarters; 225 employees will be housed at the new location. The Nashville Business Journal recently reported that the move is expected to take place by the end of Q2 2012. Regions currently leases 250,000 square feet in the 28-story Regions Center at 315 Deaderick Street, but it utilizes around half of that space. Regions’ move was made possible by U.S. Bank’s expected move to the nearby 33-floor AT&T building.
“We could not be more pleased to have a firm of Regions’ sound reputation and high caliber business joining the One Nashville Place community,” declared Mike Waddell, executive vice president, asset management, for Daymark. “We developed a great working relationship with the Regions Bank team during lease negotiations and achieved an agreement that will benefit both parties for many years to come” added Waddell.
Santa Ana, Calif.-based Daymark Realty Advisors manages One Nashville Place on behalf of an investment group comprised of individual owners. The 25-story office tower at 150 Fourth Avenue North is Nashville’s ninth tallest tower at 359 feet. Completed in 1985 and designed by Morris Architects, the property is in a postmodern style and has an octagonal plan, dark reflective glass façade and mansard roof, earning it the nickname R2D2, after the Star Wars movie character. The property features 393,000 square feet of rentable space. Onsite amenities include 24-hour security, on-site banking, on-site building management, FedEx, DHL, and UPS Drop Boxes, computerized energy management security that lowers energy costs, and a building conference center with seating for 75, outfitted with a catering kitchen. The property boasts state-of-the-art communications and building electronics, such as a technologically advanced telecommunication system and fiber optic data connections.
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Chart courtesy of CBRETags: Acquisitions/Dispositions, Architecture/Design, Brokers, Class A office high-rise, Daymark Realty Advisors, energy efficient, Finance/Investment, Financiers, Investors, leasing, Local, Nashville Lead Story, National, Office, office lease, One Nashville Place, operations, Owners, private investors, property management, R2D2 tower, Regional