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August 15, 2013

Coworking Office Concept Opens Second Phase; Hines Picks Up Suburban Retail Center

By Eliza Theiss, Associate Editor

Nashville has new office space to boast, and it’s not the usual run of the mill office space that abounds in urban cores. It’s phase two of Center 615, the eclectic office suite and co-working office space development at 615 Main St. in East Nashville, a submarket popular with start-ups and small companies.

“What people need in a workplace has evolved way beyond cubicles,” declared Center 615 owner Christian Paro. “East Nashville is fun and edgy and Center 615 reflects that (…) We are building a vibrant campus for small companies and creative professionals.”

The three-phase project has just launched phase two, while phase one launched in April 2013. The two phases, dubbed East Wing and Central Wing comprise 37 office suites ranging between 100 and 1,975 square feet with co-working desks and workstations. Collaborative work stations comprise CoTable, CoStation and CoCube setups.

Amenities include themed conference rooms, screening room, administrative support, 24/7 keycard access, reception service, indoor lounge as well as rooftop lounge and outdoor event space, break rooms with kitchen, fitness facility and complimentary on-site parking. Center 615 features contemporary and unique interior design with futuristic decor inspired by science fiction. Tenants of Center 615 also have access to the adjacent Paro South Creative Suites’ 1,400-square-foot art gallery/event space.

The third phase of the projects, set to open in 2016, is leased by Hardaway Construction, the property’s former owner. Paro South LLC, a Nashville-based property management and development firm, purchased the asset in December 2012.

In other local real estate news, Hines Global REIT has acquired The Avenue Murfreesboro, a 747,497-square-foot retail center built in 2007 in Metro Nashville’s Murfreesboro submarket. The 10-building shopping center is 89 percent leased to 93 tenants that include Belk, Dick’s Sporting Goods, Barnes & Noble and Bed, Bath & Beyond. Hines purchased The Avenue Murfreesboro from Faison & Associates and Cousin Properties. David Hocker & Associates has been appointed property manager.  The Avenue Murfreesboro is part of The Avenue outdoor lifestyle center concept introduced by previous owner Cousin Properties in 1998. The Avenue concept has seven locations throughout the Southeastern United States.

Photo courtesy of The Avenue Murfreesboro’s Facebook page

Chart courtesy of Colliers International

 

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