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AcquisitionsOfficeTennessee

SVN | Wood Brokers Sale of 23-Story Riverview Tower in Downtown Knoxville

by John Nelson

KNOXVILLE, TENN. — SVN | Wood Properties has brokered the sale of Riverview Tower, a 23-story office tower located at 900 S. Gay St. in downtown Knoxville. Apex Bank purchased the building for an undisclosed price from an affiliate of Hertz Investment Group. George Brown and Taylor Thompson of SVN | Wood represented the seller in the transaction, which closed in approximately four months from the listing date. Riverview Tower spans 334,197 square feet of offices with floor-to-ceiling windows on every level. The acquisition includes an adjacent multi-level parking garage. Apex Bank has selected SVN | Wood to continue leasing the office tower.

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AcquisitionsIndustrialSoutheastTennessee

Matthews Negotiates $15.8M Sale of Industrial Facility in Columbia, Tennessee

by John Nelson

COLUMBIA, TENN. — Matthews has negotiated the $15.8 million sale of a 162,934-square-foot industrial facility located on 15.5 acres at 2206 Oakland Parkway in Columbia, a city in Middle Tennessee’s Maury County. Jay Reeves, Matthew Powell and Jonathan Ghertner of Matthews represented the seller, an unnamed national developer, in the transaction. Mike Havens of Havens Commercial represented the buyer, an undisclosed investment firm. According to the Matthews property website, the facility is fully leased to GCP Applied Technologies Inc., which recently signed a new 10-year triple-net lease at the property with 2.5 percent annual rent increases and two five-year renewal options.

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AcquisitionsIndustrialSoutheastTennessee

Brennan Acquires Two Industrial Buildings in Metro Nashville Totaling 225,000 SF

by John Nelson

GOODLETTSVILLE, TENN. — Brennan Investment Group has acquired two newly constructed distribution facilities located at 1022-1024 Louisville Highway in Goodlettsville, a northern suburb of Nashville. The seller and sales price were not disclosed. Built in 2024, the properties are situated within one mile of I-65 and span a combined 225,000 square feet. The two rear-load properties, which include a 123,000- and 102,000-square-foot building, are currently 30 percent leased to three tenants and include 30-foot clear heights, dock doors and ESFR sprinkler systems.

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HospitalityLoansSoutheastTennessee

JLL Arranges Refinancing for 506-Room Tri-Brand Hotel in Downtown Nashville

by John Nelson

NASHVILLE, TENN. — JLL has arranged the refinancing of a tri-brand Marriott hotel located at 410 Rep. John Lewis Way S in downtown Nashville. Opened in 2019, the hotel combines three Marriott selective-service hotel brands and is one of two tri-brand hotel properties in the United States, according to JLL. The property comprises AC Nashville Downtown (209 rooms), Residence Inn Nashville Downtown/Convention Center (172 rooms) and SpringHill Suites Nashville Downtown/Convention Center (125 rooms). Kevin Davis, Dan Peek, Mark Fisher, Carolina Bernal, Carly Pomerantz and Malia Buljat of JLL arranged the five-year loan on behalf of the borrower, North Point Hospitality. Terms of the financing were not disclosed. North Point completed a $13 million expansion last year that added 36 Residence Inn Elite rooms to the property. Amenities at the property include eight food-and-beverage outlets, as well as 9,016 square feet of meeting space, an outdoor pool and hot tub deck, fitness center, sundries shop and 275 onsite parking spaces with valet service.

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DevelopmentLeasing ActivityMixed-UseOfficeSoutheastTennessee

Cousins Signs Oracle to 116,000 SF Office Lease in Nashville

by John Nelson

NASHVILLE, TENN. — Cousins Properties has signed tech giant Oracle to a 116,000-square-foot office lease in Nashville’s Germantown neighborhood. Oracle will move into its space in the second half of the year within the Neuhoff mixed-use development, which Atlanta-based Cousins owns in a 50/50 joint venture with an unnamed institutional investor. Oracle’s offices will overlook the construction of its new global headquarters campus that is being developed on the other side of the Cumberland River. At completion, Neuhoff will connect to the Oracle campus via a pedestrian bridge. Neuhoff comprises 395,000 square feet of office space, 55,000 square feet of retail space and 542 apartments. According to Cousins, the office portion of Neuhoff is currently 84 percent leased, the retail component is 46 percent leased and the apartments are 92 percent leased. Atlanta-based New City Properties is developing Neuhoff on behalf of the ownership group.

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DevelopmentIndustrialSoutheastTennessee

Hamilton Development Begins Construction on 1.8 MSF Industrial Park in Smyrna, Tennessee

by John Nelson

SMYRNA, TENN. — Hamilton Development has broken ground on Cornerstone Business Park, a 152-acre industrial park located at 5481 W. Jefferson Pike in Smyrna, a southeast suburb of Nashville. Situated off I-840, the industrial park will feature 12 buildings spanning 1.8 million square feet upon full build-out. Hamilton Development began construction on Phase I of Cornerstone Business Park, which features eight buildings spanning 1 million square feet. The first buildings are set for delivery in first-quarter 2027. Phase II will comprise four buildings totaling 800,000 square feet. Hamilton Development, which has 14 industrial parks in the Nashville market, has tapped Hayes McWilliams and Henry Sherer of Cushman & Wakefield to lease Cornerstone Business Park.

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Market ReportsRetailSoutheastSoutheast Market ReportsTennessee

Nashville Retail Market: Strength, Scarcity and Shifting Demand

by John Nelson

Nashville’s retail market continues to outperform many peer metros across the Southeast, supported by steady population growth, a diversified employment base and a prolonged period of limited new supply. Despite broader economic uncertainty and rising operating costs, fundamentals across Middle Tennessee remain healthy, with vacancy holding near historically low levels.  Tight conditions, leasing  That strength is reflected in current occupancy trends. Retail vacancy throughout the region sits at approximately 3.6 percent, signaling sustained tenant demand within a constrained inventory environment. New construction has remained limited as elevated material and labor costs have pushed many proposed developments outside workable underwriting thresholds.  As a result, existing centers, particularly well-located neighborhood and suburban assets, continue to capture consistent leasing activity.  Core, emerging submarkets  Demand remains strongest in Nashville’s core and established growth corridors, including Green Hills, Vanderbilt/West End, 12th South/Wedgewood-Houston, Charlotte Pike/Sylvan Park and the Cool Springs pocket of Franklin. These areas benefit from dense residential growth, strong household incomes and reliable consumer traffic, supporting above-average rent levels.  At the same time, tightening availability and rising barriers to entry in the urban core have accelerated growth across surrounding satellite markets. Submarkets such as Lebanon, Clarksville, Murfreesboro and Smyrna have emerged as meaningful retail …

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AcquisitionsMultifamilySoutheastTennessee

IPA Brokers Sale of 192-Unit Apartment Community in Metro Nashville

by John Nelson

THOMPSON’S STATION, TENN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Newport Station, a 192-unit apartment community located on a 13-acre site in Thompson’s Station, a southern suburb of Nashville. David Stollenwerk, Christian Farris, Will Balthrope and Drew Garza of IPA represented the seller and procured the buyer in the transaction. The sales price was also not disclosed. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee in the deal. Completed in 2024, Newport Station features garden-style apartments averaging 1,287 square feet in size, as well as a resort-style swimming pool, fitness center and a dog park.

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Market ReportsOfficeSoutheastSoutheast Market ReportsTennesseeUncategorized

Nashville’s Office Market Is Defined by Resiliency, Momentum

by John Nelson

With office leasing and development, we’re always looking forward to the next big thing. Nashville’s office market is no exception to that. Sometimes no news is good news, though. That may be the case with the metro’s office development, where only four projects totaling 279,320 square feet were underway at the close of 2025 — 44.1 percent of which was preleased. At the beginning of 2020, Nashville’s construction pipeline was nearly 10 percent of its inventory size — the second-highest share out of any U.S. metro.  Since then, 8.5 million square feet of office product has been delivered, and despite overlapping with a global pandemic, nearly 80 percent of it has been leased — underscoring the market’s appetite for quality office space. While that office space has not been absorbed as quickly as some had hoped, market trends and activity suggest that nearly 90 percent of it will be absorbed by the end of 2026, proving the Nashville office market’s resilience.  As we approach the end of the first quarter, Nashville’s office market is off to a good start, despite some uncooperative icy weather. Although local tenants continue to lead occupancy growth, sizable multi-market requirements have continued to increase, pushing …

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DevelopmentIndustrialSoutheastTennessee

Lincoln, Principal Purchase Land Near Nashville Airport, Plan 167,133 SF Industrial Project

by John Nelson

NASHVILLE, TENN. — Lincoln Property Co. and Principal Asset Management have purchased a 13.5-acre site at 41 Rachel Road in Nashville. The buyers plan to develop Skybridge 40, a two-building, 167,133-square-foot industrial project at the site, which is located directly across I-40 from Nashville International Airport. Demolition at the site recently concluded and sitework is underway. The co-developers plan to deliver Skybridge 40 by the end of the year or early 2027. The design-build team includes Catamount Constructors (general contractor), Alliance Architects (architect) and Kimley-Horn (civil engineer). Lincoln and Principal have selected John Ward and Abigal Rieck of Cushman & Wakefield to lease the industrial project, which will comprise a 100,597-square-foot building and a 66,536-square-foot building.

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