FRANKLIN, Tennessee (December 1, 2021) – KBS, one of the largest investors in commercial real estate, has signed 66,611 square feet in new leases and completed a series of renovations to the common areas and spec suites at The McEwen Building, a 175,262 square-foot office and retail property in Franklin, Tennessee, a submarket of Nashville. The McEwen Building is owned by KBS Real Estate Investment Trust III.
“KBS is adept at identifying top-shelf assets in thriving markets that are positioned for ongoing strong performance,” says Marc DeLuca, Eastern regional president for KBS. “Nashville is a burgeoning secondary market that shows great promise for future growth, and The McEwen Building is a well-located elite asset with a wealth of in-demand amenities. As we continue to invest in upgrades to the property, leasing activity is rising.”
Cushman & Wakefield reports that Nashville’s office market recorded more than 460,000 square-feet of new leasing activity throughout the third quarter of 2021. As the population quickly approaches 2.0 million, the competitive housing market, consistent job growth, and decline in unemployment contribute to the allure of Nashville business and lifestyle. Nashville’s diverse industry breakdown is aiding its success in pandemic recovery.
Newly signed tenants at The McEwen Building include:
- Kaiser Aluminum Corporation, a global aluminum supplier, for 27,356 square-feet of office space to relocate corporate functions from Foothill Ranch, California.
- American Renal Associates LLC, a national dialysis clinic operator, for a full 26,695 square-foot floor of office space.
- A local financial institution, for 12,560 square feet of space including 1,290 square-feet of retail and 11,270 square feet of 1st -floor office space.
The new lease transactions were spurred by investments KBS made to the property over the last several months including the completion of 24,130 square-feet of built-out spec suite space and upgrades to the 1st and 2nd-floor lobbies, restrooms, coffee bar and café at The McEwen Building. The spec suite renovations, which included the completion of more than 3,000 square-feet of previously unused space, are truly unique with all new televisions and high-end furniture tailored to the needs of today’s top tenants.
KBS’ spec suite program is a product of the company’s hands-on management strategy, according to Allen Aldridge, asset manager for The McEwen Building, co-director of asset management and senior vice president for KBS.
“KBS has a pulse on what tenants are seeking in top-quality office space and goes above and beyond to deliver it,” says Aldridge. “Our spec suite program is a turnkey solution that enables office tenants to move in quickly and be up and running almost immediately as opposed to spending time building out an empty space. It’s an excellent option that increasingly attracts quality tenants.”
Blake Newton, senior director of Cushman & Wakefield represented KBS in the recent leasing transactions.
“The McEwen Building consistently draws in office and retail tenants who recognize the value of occupying space at a well-located high-quality building with so many great on-site and walkable amenities,” says Newton.
Rick Sherburne, Wesley Sherburne and Taylor Hillenmeyer of CBRE represented Kaiser Aluminum Corporation, Tom Hooper of JLL represented American Renal Associates and Shane Douglas of Colliers International represented the local financial institution in the negotiation of the leases.
Built in 2009, The McEwen Building is a seven-story building with six floors of office space and a ground floor dedicated to retail. Surrounded by park-like landscaping, the property features on-site dining and fitness options, on-site parking, EV car-charging stations, and an outdoor dining patio and adjacent courtyard. The property is located within walking distance of numerous premier restaurants, hotels, entertainment, and shopping including Bricktop’s restaurant, Whole Foods Market, Lululemon, Mountain High Outfitters, and many others.
The McEwen Building is located at 1550 West McEwen Drive in Franklin, Tennessee.
Please click here for photos of The McEwen Building.