Nearly two months after announcing it would relocate its headquarters to a new building in the $1 billion, 5 million-square-foot Nashville Yards mixed-use development in downtown Nashville, Pinnacle Financial Partners has agreed to become the massive project’s first “Founding Partner.”
As part of the multi-year agreement with developers Southwest Value Partners and Anschutz Entertainment Group, Pinnacle will serve as the exclusive banking partner for Nashville Yards. The deal will also give Pinnacle a large-scale branding presence and sponsorship activations across the development.
The agreement, brokered by AEG Global Partnerships, comes several weeks after SWVP revealed it had formed a joint venture with AEG to co-develop the entertainment segment and concert venue at the 18-acre campus. SWVP and AEG unveiled an expanded plan for the entertainment district to include a 4,000-capacity live music venue; upscale eight-screen theater; a collection of food, beverage and retail offerings; 275,000 square feet of Class A+ creative office space; three highly amenitized residential towers and ample open space.
Terry Turner, Pinnacle president & CEO, called Nashville Yards—the largest development in the city’s history—a visionary project. Turner said in a prepared statement that Pinnacle has worked for 20 years to be a catalyst for shaping Nashville’s urban core and so it was natural to be part of a development that will strengthen the city’s business district and bring greater balance to the live-work-play character of downtown.
Office space detailed
At full buildout, Nashville Yards is slated to encompass about 3.5 million square feet of creative office space, including the home of Amazon Nashville and the 650,000-square-foot multi-tenant office building that will become the Pinnacle headquarters.
The second-largest bank holding company headquartered in Tennessee, Pinnacle said in June it would be relocating its offices to 95,000 square feet at the 34-story tower at 201 Platform South in Nashville Yards. Pinnacle is leaving its 90,000-square-foot space at The Pinnacle at Symphony Place at 150 Third Ave. in the SoBro neighborhood.
Pinnacle’s name will also be on the new Nashville Yards tower. A trapezoid-shaped structure, the new office property features 28,000 square feet of retail space and is home to the recently completed Grand Hyatt Nashville. Pinnacle is also leasing 10,000 square feet of retail space for its branch office.