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Inner Loop - CBD, Downtown, East Bank, Germantown, Gulch, Rutledge


smeagolsfree

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One thing that a single office promotes is the corporate culture. So it's not going away. Yes, there will be more flexibility in hours spent there, but that's something the best of the best firms will always guard jealously. If anything, Nashville is currently still a bit short of what their office space demands will be in a few (3-5) years from now. 

And then there are the macroeconomic factors... people/companies currently in other large cities beset by riots that will continue to flow out of those cities/regions. Nashville will be a beneficiary, as has already been noted in a few national news outlets I've heard. Also there's a creative class in Nashville that no other peer has. It will continue to demand common office; not to be confused with individual office needs. The latter is being supplanted overwhelmingly by home offices. I expect you'll see massive contraction in office demands in the financial industry (now so many of those retail and even corporate financial advisors will prefer doing so online... zoom etc., from their homes).  Likewise, consulting firms will simply continue their trends away from office space. My field (legal) will also reduce their office demands to some extent. If you want investment opportunities, look for those technology/marketing services that support distributed delivery. We've already seen this (in spades) in the retail sectors. The next five years will be a quantum step in the evolution in how nearly everyone works. Nashville is well-positioned right now with the amount of residential, as a ratio to office in the core. 

Edited by MLBrumby
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13 hours ago, Bos2Nash said:

That all being said when the whole pandemic concludes, some people are gonna be really impressed or confused by how much some of these developments are changing in downtown.

That's why I get downtown and take a walk about once a month and drive about once a week. The changes can be pretty dramatic.

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Surprised they are not moving their retail store as well. It will be a welcome addition to the HBV neighborhood. Glad that the city addressed the crosswalk in that area — however still an area where speed needs to be addressed. 

22 hours ago, markhollin said:

The Crossroads Campus at 1601 Buchanan St. will be a 3 building (two at 3 stories, one at 1 story) on .2 acre featuring office space, 18 residential units, a cafe, bakery, and pet grooming salon being developed by Crossroads Pets.  Moody Nolan is the architect. Plans are to start construction by year's end.

More behind the Nashville Post paywall here:

https://www.nashvillepost.com/business/development/article/21142913/details-emerge-for-buchanan-street-project

 

 

Crossroads Campus, Aug 19, 2020, render 1.png

Crossroads Campus, Aug 19, 2020, render 2.png

Crossroads Campus, Aug 19, 2020, render 3.png

Crossroads Campus, Aug 19, 2020, diagram.png

 

 

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On 8/17/2020 at 7:41 PM, MLBrumby said:

One thing that a single office promotes is the corporate culture. So it's not going away. Yes, there will be more flexibility in hours spent there, but that's something the best of the best firms will always guard jealously. If anything, Nashville is currently still a bit short of what their office space demands will be in a few (3-5) years from now. 

And then there are the macroeconomic factors..[snip]... The next five years will be a quantum step in the evolution in how nearly everyone works. Nashville is well-positioned right now with the amount of residential, as a ratio to office in the core. 

Age of employees is a huge factor here as well, most 50 somethings have an empty bedroom they can use as an office, but a 22 year old may have roommates playing video games while they're sitting on their bed with a laptop trying to work.

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Office space tends to run on 10 year leases so massive, quick change in office foot prints will take a while to unfold. In existing offices, social distancing will likely continue so spreading out will mean not using every existing 5' wide work station. I'm hearing of hybrid schemes 3 days in an office 2 days at home as an example. Folks praising working from home don't seem to have younger kids.  Folks with kids under 5 are having a tougher time working from home. Being able to afford a nanny is great but the kids are still at home - a coworker mentioned.  In my office about 20% are going in, but they tend to be management and the younger folks eager for promotion. It's hard to show your value sitting in a tank top on your couch when your co-workers are in an office. I've heard stories that home searches may be changing as folks, who can afford it, are looking for a dedicated office space. They need an extra bedroom and some separation from the rest of the house. One story I'm hearing is of a co-worker of my spouse who has always needed a roomate to afford midtown living. They are now fueding over the lack of space to both function in a appartment that is no longer just a place to sleep.

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Lots of things I am seeing in the media is that people are getting burn out form working at home and need to be away from family and are tending to work more instead of less from home. 

So, it is a double edged sword. Work from home is not for everyone and it is challenging to do training virtually as well. I do think there could be some type of hybrid situation in the future, but the office building is not dead.

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15 minutes ago, smeagolsfree said:

Lots of things I am seeing in the media is that people are getting burn out form working at home and need to be away from family and are tending to work more instead of less from home. 

So, it is a double edged sword. Work from home is not for everyone and it is challenging to do training virtually as well. I do think there could be some type of hybrid situation in the future, but the office building is not dead.

I love my spouse dearly, but prior to spending the last 5 months together 24/7, a two week vacation had been our limit. I almost cried to hear we are both home til New Years.......

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2 minutes ago, Nash_12South said:

I love my spouse dearly, but prior to spending the last 5 months together 24/7, a two week vacation had been our limit. I almost cried to hear we are both home til New Years.......

Just imagine if you had 6 kids, 4 dogs, & 3 cats and had the misfortune of a mother in law living with you. Just saying it could be worse!

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  • dmillsphoto changed the title to Inner Loop - CBD, Downtown, East Bank, Germantown, Gulch, Rutledge

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