Nashville Bits and Pieces

[NashRugger]

There will be jobs lost in this transaction, it's the only way the transaction makes sense from an economic viewpoint. They may say otherwise but some jobs will be leaving nashville

You're just so negative and what's your basis on this anyways?

[samsonh]

I try to approach things from a logical and realistic perspective. Gaylord has a highly paid c suite, as does Marriott, they also have many support staff and back office functions. Marriot can merge some of those functions to their company and save dollars. These synergies are the basis for most mergers for industries in the mature phase. Sorry if I seem negative, I think you will find that I am right more than I'm wrong though.

[samsonh]

From the Tennessean article today:

The move also probably means job losses at Gaylord’s corporate headquarters.

“There will be casualties,” said Gaylord Chairman and CEO Colin V. Reed, alluding to expected staff cuts as his company and Marriott work through the transition over the next three months. Gaylord expects to seek approval for the deal from its shareholders in the third quarter.

The possible extent of job losses in Nashville isn’t fully known.

Gaylord employs 9,000 people, including a corporate staff of about 300. Reed expects roughly 8,800 hotel employees to shift to working for Marriott, which has committed to keeping leadership teams at each hotel site together.

http://www.tennessean.com/article/20120601/BUSINESS01/306010074/Marriott-deal-win-Gaylord?odyssey=tab{sodEmoji.|}topnews{sodEmoji.|}text{sodEmoji.|}FRONTPAGE&nclick_check=1

[FrankNash]

A loss is a gain for all of the hospitality businesses that will be coming to Nashville. Music city center, Omini Hotel, the new water park, and all of the new hotels that will be built in the next couple of years. With over 3 billion dollars in tourist business in Nashville I believe any loss of jobs from Gaylord either front office or house keeping will find a place here in town.

[e-dub]

end of the line for hickory hollow mall:

http://www.wsmv.com/...rce=twitterfeed

eric b

Edited June 1, 2012 by e-dub

[UTgrad09]

end of the line for hickory hollow mall:

http://www.wsmv.com/...rce=twitterfeed

eric b

This has been coming for quite a while. It's sad. I visited the mall (just to see how it was) back in February, and I was sad to see just how dead it was...especially compared to the hustle and bustle I can remember as a child in the early 90s.

I do like the idea of Nashville Tech opening up space there, as well as a library and community center. But that's a drop in the bucket for such a huge building.

However, we can look at how 100 Oaks was repurposed for some inspiration. Obviously Vanderbilt isn't going to need a space so huge after what they've done at 100 Oaks, but perhaps some other hospital group can open up a large clinic wing there.

A community college, a large clinic, and a public library, and a food court and courtyard (perhaps with a very limited number of shops) might work. It's days as one of the largest retail centers in the city is long over, though.

[MLBrumby]

It will never again be a destination as long as the gangs roam the place. I recall the last time I was there... about 10 years ago, and even then, a girl was laughing and talking really loud with her girlfriends... and one of them pushed her into my path. She bumped into me, and turned around and screamed, "Hey you white a******, don't be getting all in my space!!" And she was snarling at me. I just shook my head and walked on... and she and her girlfriends shouted after me something about they were going to get me out in the parking lot. It was so annoying, and most people would have been scared off by it.

[samsonh]

A not too uncommon experience I would imagine. Theft was a huge problem at hickory hollow. The area around hickory hollow won't get better until the citizens want it to get better

[BnaBreaker]

I am optimistic that all of the components that are replacing the retail at Hickory Hollow will, over time, begin to change the community for the better.

[James Owen]

Lexus of Nashville is building a new dealership at MetroCenter. The "coming soon" signs went up the other day along Rosa Parks Blvd., so expect construction to begin soon after years of delay.

[smeagolsfree]

Groundbreaking set for Lentz Health Center.

http://nashvillecitypaper.com/content/city-news/construction-set-new-public-health-center-after-metro-hca-land-swap

[MidTenn1]

Here is a graphic I created from Google Side View to show what's proposed or strongly rumored for Nashville's SoBro area. Most of which is either under construction or could possibly start this year.

[MTSUBlueraider86]

The 21 story Omni Hotel should be topped out by September according to a construction foreman William and I spoke to back in early May. I wish it were 26 stories, but since Nashville has a tall building phobia, we are stuck with another building under 300 feet like Suntrust Plaza and the now under construction Hyatt Place!

I don't want the tall versus short debate to get started again, but in a downtown which will be shrinking over the next few years, developers need to think about height for better land use management.

I do think Tony will start The Sobro by the early fall. The Hyatt Place will be good infill. I don't give any credence to rumor or speculation about any other hotels or developments in Sobro as most of what has been promised in the past was never built. Remember the year long debate for the Westin that was never built?

These things just seem to come together when the timing is right, and projects that are overly advertised seldom occur like Signature Tower and west End Summit.

Nice map PHofKS, but in my mind there are only 3 developments on there, and that is the three under construction. The only two I can even consider are the Sobro, a 30 story apartment tower, and a hotel on Tony's lot next to Encore.

[MidTenn1]

Thanks MTSU. Again, these are rumored projects and I know some will never come to fruition. However, the economics are much better now than they were when the Signature and WES were proposed. Nashville has the nation's fourth strongest economy and it's population is booming. The MCC will be an incredible catalyst for immediate future development. I can see at least another hotel or two starting up within a year.

[dmillsphoto]

BR, did you forget that they are 55% leased on the MTC? 2 8ksqft leases put them over that coveted 60% preleased marker. I know we've been pessimistic but they've continued getting things done. As for another 20+ story office tower in SoBro, not gonna happen. I agree with you there.

[dmillsphoto]

This just in...

NashvilleBizJournal ‏@nashvillebiz

Pillsbury law firm selects AT&T building as new downtown home

[Nathan_in_DC]

This just in...

NashvilleBizJournal ‏@nashvillebiz

Pillsbury law firm selects AT&T building as new downtown home

Any idea what percentage of AT&T will be vacant after they move in?

Groundbreaking set for Lentz Health Center.

http://nashvillecity...o-hca-land-swap

Any idea what's going to happen to the existing plot on 23rd?

[dmillsphoto]

They are taking 40k square feet, 2.5 floors in AT&T. No idea where that puts it percentage-wise.

[Nathan_in_DC]

They are taking 40k square feet, 2.5 floors in AT&T. No idea where that puts it percentage-wise.

Seems like a big chunk of space.

Just found this, from back in February: http://www.bizjournals.com/nashville/print-edition/2012/02/24/vacancies-in-nashville-office-buildings.html

It then had 244k square ft of vacant space, out of, according to wikipedia, 690k square feet of total office space.

So now, assuming 200k sqft vacancy, it's at an almost 29% vacancy rate. That seems unhealthy.

[dmillsphoto]

With the way law firms are expanding in TN (see ESU's interview a week or so ago) AT&T might be getting a few more tennants, but the problem with firms is they generally don't take up a lot of space.

[arkitekte]

With the way law firms are expanding in TN (see ESU's interview a week or so ago) AT&T might be getting a few more tennants, but the problem with firms is they generally don't take up a lot of space.

That's true. One way to look at it is that it shows that firms are willing to move downtown, which we all know means more businesses and residences will be needed downtown.

[dmillsphoto]

permit pulled for the Homewood Suites at the former Tower site.

http://nashvillepost.com/news/2012/6/8/permit_patrol_8_june_2012

[East Side Urbanite]

On a related theme, the southwest segment of the nearby Elliston 23 is reaching a height so as to be seen from afar.

[bwithers1]

That's true. One way to look at it is that it shows that firms are willing to move downtown, which we all know means more businesses and residences will be needed downtown.

On the other hand, the gentleman was quoted as stating that some of the national firms will expand into Tennessee through acquisitions, which could dampen some of the growth in terms of leases (i.e., no or few new people being hired). Another downside of acquisitions is that companies tend to place more of their charitable giving and initiatives in the town where their headquarters is located. So there could be a downside to local charitable causes if key firms are bought by out-of-town firms and their decisions are not made locally.

Still, I am sure that the growth in middle Tennessee will have a positive impact on downtown's corporate tenant roster.

[jdavidf]

I Noticed this morning on the way to work that the old Hansen Chrysler on Charlotte is being demo'd.. wonder if something's about to happen there?

David

Edited June 12, 2012 by jdavidf