BRENTWOOD, TENN. — GBT Realty Corp. has announced plans to build a $100 million mixed-use development in the Nashville suburb of Brentwood. The project, called Crestview at The Summit, will be situated at the peak of The Summit, which offers the highest unobstructed views of the city.
Crestview at The Summit will feature a Class A office complex with up to 480,000 square feet, in addition to a 40,000- to 60,000-square-foot hotel with a signature restaurant.
The build-to-suit facility will include two office towers with about 1,400 parking spaces and on-site walking trails. The 15-acre site is situated off an I-65 interchange.
“Brentwood is one of the most desirable markets in the region,” says Ben Owenell, GBT’s co-managing director of the company’s new Diversified Development Division, which targets urban mixed-use and lifestyle centers, medical office buildings, urban infill residential communities and corporate campuses.
“With very little Class A office currently available in this growing submarket, this site is an opportunity for a company to gain tremendous visibility but also offer its employees a community with a high standard of living, recreational amenities and quality public school system,” adds Owenell.
Crestview at The Summit is the inaugural development of GBT’s new Diversified Development Division.
GBT received its PUD (planned unit development) from the Brentwood City Council this April, clearing the way for development. Crestview at The Summit is scheduled for completion by 2018.
“Crestview will be a crown in our portfolio of quality developments across the United States,” says Owenell. “Nashville is consistently ranked as one of the top U.S. markets in terms of investment opportunities, diversity of local economy, employment and quality of life. This site lies within the metro area’s primary path of growth and affluence.”
Goodwin|Mills|Cawood will act as the office architect and engineer. Janet Sterchi and Doug Ryan of Colliers International/Nashville will act as the exclusive leasing agents for the new development.
GBT serves as the development partner to land owner Advent Properties Inc. GBT’s corporate offices were previously located in one of the existing office buildings on this site.
The Brentwood-based commercial development company has completed more than 5.5 million square feet of development in 27 states.