Music City Office Opens Doors
- Jul 11, 2019
Panattoni Development has completed work on One Music Circle South, a 107,840-square-foot Class A office property in Nashville, Tenn., according to Yardi Matrix. Fifth Third Bank financed the project with a $20.9 million construction loan which matures in July 2020.
Located in Nashville’s Music Row, the five-story property is just south of The Gulch and within a mile of the central business district. The site was formerly home to the Country Music Association’s headquarters until its relocation in 2016. Panattoni demolished the single-story building in summer 2017, breaking ground on the new structure immediately after.
Before construction began, record producer BMG signed a full-floor lease to anchor the development. The Tuck-Hinton Architects-designed building has a wide range of amenities, including bicycle storage, subterranean parking and a terrace on the top floor. Colliers is handling property management as well as leasing for the asset, with the firm’s Doug Ryan, Janet Sterchi and Nikko Sansone marketing the asset to tenants.
Nashville’s office market has been picking up steam this cycle, with several major employers—including Amazon, Mitsubishi Motors and AllianceBernstein—announcing relocation or expansion plans in the area. Office construction has boomed, with Yardi Matrix reporting 5.3 million square feet under construction, equaling more than 10 percent of existing stock, second only to Brooklyn among major U.S. metros.