Lieff Cabraser space prepped at 222
Development Aug 25, 2017
Also: Freeman Webb buys in Alabama; Turner releases quarterly report; Cool Springs Hilton topped
The space for the future Nashville office of Lieff Cabraser Heimann & Bernstein is being prepped at 222 2nd, the SoBro-based mixed-use tower soon to open.
Thomas Constructors is handling the build-out, with a permit valued at $600,000.
The building (pictured as a rendering in the center of the above photo) is located at 222 Second Ave. S. Nashville-based Gresham Smith & Partners designed the tower and will be a tenant.
Lieff Cabraser is based in San Francisco. The local office operates at One Nashville Place in the CBD.
The building to eventually house the 244-room, eight-story Hilton Franklin/Cool Springs Hotel has been topped.
Developer Chartwell Hospitality has slated a ceremony to recognize the milestone for Tuesday, Aug. 29, according to a release.
Once completed in summer 2018, the project will include a two-story parking garage, 5,000 square feet of meeting space, an upscale restaurant and bar, a pool and a 1,300-square-foot club lounge open to an outside seating area.
Nashville-based Crain Construction is the general contractor.
The hotel will have an address of 601 Corporate Centre Drive.
Freeman Webb acquires Huntsville-area apartments
Nashville-based Freeman Webb Co. has acquired a 514-unit Huntsville-area apartment complex.
A release does not note the purchase price or the seller.
Freeman Webb bought Madison Landing, located in Madison, Alabama, built in 1988 and offering 31 two- and three-story buildings sitting on nearly 44 wooded acres.
Of note, Freeman Webb once owned an apartment complex in Hoover, Alabama, with the recent transaction marking a return to the state.
Madison Landing is Freeman Webb’s second major acquisition within the last nine months, following the purchase of a Class A apartment complex in Hendersonville, Tennessee, in December 2016. The company’s portfolio features a collective approximately 15,000 units in apartment buildings in Tennessee, Mississippi, Missouri and Alabama.
“Madison Landing is a tremendous property that we will be significantly improving for our residents. Madison is home to a top ranked school district and the overall metro area is on the rise,” Jimmy Webb, company president and co-founder with Bill Freeman, said in the release. “The city is already home to the Redstone Arsenal, NASA and Boeing Co., and there is significant job growth with recent announcements of more than 6,000 additional jobs coming including Jeff Bezos’s Blue Origin, the FBI, GE Aviation, Polaris and Remington.”
Turner report shows cooling in apartment, hotel construction
The Nashville office of New York-based Turner Construction has released its second-quarter report, showing the building of large-scale apartment building continues to “cool significantly.”
Some highlights:
*Large construction activity in Nashville remains healthy though the volume of upcoming new starts has fallen below the volume of in-progress large construction work.
* Multi-family continues to cool significantly and, while a few larger hotels will start later this year or first of next year, the hospitality market is slowing down as well.
* Commercial office activity remains steady with some starts already moving forward and several major sites waiting to lock in an anchor tenant before breaking ground.
* The public sector continues to pick up with several State of Tennessee and Metro Nashville projects starting within the next 12 months.
* The volume of higher education work —particularly student housing — continues to pick up at local universities and Tennessee Board of Regents is expanding infrastructure at the local community colleges, responding to the rising number of Tennessee Promise students.
Read the report here.
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