{"id":1004083499,"date":"2013-09-11T19:08:02","date_gmt":"2013-09-12T03:08:02","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=179139"},"modified":"2022-12-08T20:04:22","modified_gmt":"2022-12-09T04:04:22","slug":"leed-gold-cbd-trophy-towers-sold-in-nashville","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/leed-gold-cbd-trophy-towers-sold-in-nashville\/","title":{"rendered":"LEED Gold CBD Trophy Towers Sold in Nashville"},"content":{"rendered":"

By Eliza Theiss, Associate Editor<\/em><\/p>\n

Raleigh, NC-based Highwoods Properties has announced the acquisition of Nashville\u2019s premier commercial high-rise, \"\"<\/a>The Pinnacle at Symphony Place, a 29-story Class AA office tower located in Nashville\u2019s booming CBD. The 417-foot-high trophy office asset, located at 150 Third Avenue South sits in the SoBro district, a dynamic business, entertainment and retail hub. The 520,000-square-foot building was acquired for $152 million with Highwoods committing to $0.8 million building improvements expected to take place in the near future. Highwoods also received a $1.3 million closing credit for free rent from the seller, not included in the purchase price.<\/p>\n

Boasting an 84.9 percent occupancy rate, Pinnacle is expected to generate a 2014 full year cash operating income of $8.8 million, while GAAP NOI will hit $10.7 million. The average remaining lease term in the high-rise is 11 years and the five-year rollover is less than 2 percent.\u00a0 The tenant roster includes prestigious law firms such as Bass, Berry & Sims, Butler|Snow as well as a multitude of other companies like financial services firm Pinnacle Financial Partners. The Pinnacle sits on a ground lease with 93 years remaining on the term. Cash rent for 2014 will be $0.6 million.<\/p>\n

Officially opened in 2010, The Pinnacle at Symphony Place features 520,000 square feet of office space located above level six, 15,000 square feet of street level retail space, four-and-half levels of underground parking combined with six levels of above grade parking. Amenities at the trophy tower include a fitness and yoga center, popular The Southern Steak and Oyster Restaurant, floral and gift shop, caf\u00e9 and sundries shop, on-site shoeshine, concierge services, 24\/7 manned security, video monitoring and card-controlled access. The Pinnacle also has direct access to the Shelby Street Pedestrian Bridge, which connects over 20 miles of greenways around Cumberland River. The high-rise was designed by internationally reputed architectural firm Pickard Chilton and local award-wining firm EOA Architects. It was developed by Barry Real Estate Companies at a cost of $170 million. It is one of only a handful of office towers in the Southeast with no interior columns, which increased useable space by up to 20 percent.<\/p>\n

It is also the first office tower in Nashville to be LEED Gold certified. Green features include the one-acre green roof terrace garden, unique in Nashville and designed by Hawkins Partners which features WiFi, various \u00a0seating areas, a custom tent capable of holding 300, covered bike parking, preferential parking for carpoolers and low-emission vehicles, 30 percent more efficient water fixtures, state-of-the-art energy management, low-emitting paints, adhesives, a green cleaning program and building-wide recycling program, easy access to public transportation, and a walkscore of 97. A number of construction materials were locally sourced and had recycled content, while 90 percent of construction waste was recycled. The Pinnacle is an urban infill project.<\/p>\n

Image courtesy of<\/em> The Pinnacle at Symphony Place<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Raleigh, NC-based Highwoods Properties has announced the acquisition of Nashville’s premier commercial high-rise, The Pinnacle at Symphony Place, a 29-story Class AA office tower located in Nashville’s booming CBD.<\/p>\n","protected":false},"author":49,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36077],"tags":[1815],"class_list":["post-1004083499","post","type-post","status-publish","format-standard","hentry","category-nashville-knoxville","tag-national"],"acf":[],"yoast_head":"\nLEED Gold CBD Trophy Towers Sold in Nashville - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/leed-gold-cbd-trophy-towers-sold-in-nashville\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LEED Gold CBD Trophy Towers Sold in Nashville\" \/>\n<meta property=\"og:description\" content=\"Raleigh, NC-based Highwoods Properties has announced the acquisition of Nashville’s premier commercial high-rise, The Pinnacle at Symphony Place, a 29-story Class AA office tower located in Nashville’s booming CBD.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/leed-gold-cbd-trophy-towers-sold-in-nashville\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-09-12T03:08:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T04:04:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/09\/The-Pinnacle-at-Symphony-Place.jpg\" \/>\n<meta name=\"author\" content=\"Eliza Theiss\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/leed-gold-cbd-trophy-towers-sold-in-nashville\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/leed-gold-cbd-trophy-towers-sold-in-nashville\\\/\"},\"author\":{\"name\":\"Eliza Theiss\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/de1353a5de72f96494054df3ecca7de4\"},\"headline\":\"LEED Gold CBD Trophy Towers Sold in Nashville\",\"datePublished\":\"2013-09-12T03:08:02+00:00\",\"dateModified\":\"2022-12-09T04:04:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/leed-gold-cbd-trophy-towers-sold-in-nashville\\\/\"},\"wordCount\":464,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/leed-gold-cbd-trophy-towers-sold-in-nashville\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/09\\\/The-Pinnacle-at-Symphony-Place.jpg\",\"keywords\":[\"National\"],\"articleSection\":[\"Nashville - 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