{"id":1004678276,"date":"2023-08-31T03:20:59","date_gmt":"2023-08-31T11:20:59","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004678276"},"modified":"2023-08-31T03:21:00","modified_gmt":"2023-08-31T11:21:00","slug":"nashville-office-tower-lands-175m-loan","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nashville-office-tower-lands-175m-loan\/","title":{"rendered":"Nashville Office Tower Lands $175M Loan"},"content":{"rendered":"
\"One22One\"<\/a>

One22One was Nashville’s largest office project completed in 2022. Image courtesy of GBT Realty Corp.<\/em><\/p><\/div>\n

A joint venture of GBT Realty Corp.<\/strong> and Koch Real Estate Investments<\/strong> recapitalized One22One, a recently completed, 24-story office tower in Nashville, Tenn., with a $174.6 million senior construction loan originated by Canyon Partners Real Estate<\/strong> and J.P. Morgan<\/strong>.\u00a0JLL<\/strong> Capital Markets represented the borrower.<\/p>\n

GBT and Koch completed One22One<\/a> at 1221 Broadway, in the Gulch neighborhood, a year ago. The partnership had secured a $141 million construction loan<\/a> for the Class A tower in April 2020 from Mack Real Estate Credit Strategies.<\/p>\n

The largest office project completed in Nashville in 2022<\/a>, the building has 373,232 square feet of office space, 16,938 square feet of retail space and 13 stories of parking. A conference center, outdoor terrace, tenant lounge and fitness center are some of the tower’s amenities. Post-pandemic safety features include individual HVAC systems on each floor and touchless technologies such as keyless access to tenant suites and elevators.<\/p>\n

\n

READ ALSO:<\/strong> Today\u2019s Most-Desired Office Amenities<\/a><\/p>\n

\n

Major tenants include Bradley Arant Boult Cummings LLP, a national law firm, and Slalom, a global management consulting company. FirstBank, the third largest Tennessee-based bank, has also leased 52,000 square feet at the property, on floors 13 and 14; some of that space will include FB Financial Corp.\u2019s headquarters.<\/p>\n

Just off Interstate 40, the tower is 1 mile from the Tennessee State Capitol and downtown Nashville and 2 miles from Nissan Stadium. A Whole Foods Market is across the street and there are more than 20 dining options within a 1 mile-radius. Several retail and entertainment options are also nearby.<\/p>\n

George Tomlin, president & CEO of GBT Realty, said in a prepared statement the recapitalization positions the joint venture partners to take advantage of the rising demand and provide workspaces and amenities that companies are seeking in a post-pandemic environment.\u00a0Matt Stewart, managing director of JLL\u2019s Capital Markets group, added office properties like One22One continue to outperform and drive tenant and capital demand, particularly in a challenging capital markets environment.<\/p>\n

Nashville’s robust office pipeline<\/h2>\n

Nashville had more than 3.3 million square feet of rental office space under construction as of July, a 5.8 percent expansion of existing stock that put the metro in the second spot nationally for new space underway as a percentage of stock, after Austin, according to a recent CommercialEdge report. However, only three projects totaling 509,000 square feet have started construction in the last 12 months.<\/p>\n

One of the largest new office buildings will come online within the $1 billion mixed-use Nashville Yards project. Southwest Value Partners is developing the 566,000-square-foot tower for Amazon.<\/p>\n","protected":false},"excerpt":{"rendered":"

Canyon Partners Real Estate and J.P. Morgan originated the senior financing.<\/p>\n","protected":false},"author":1068,"featured_media":1004678305,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,36077,21742,21747,32781],"tags":[36998,34312,43145,32796,51685],"class_list":["post-1004678276","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-nashville-knoxville","category-latest","category-office","category-southeast","tag-canyon-partners-real-estate-llc","tag-gbt-realty-corporation","tag-j-p-morgan","tag-jll","tag-koch-real-estate-investments"],"acf":[],"yoast_head":"\nNashville Office Tower Lands $175M Loan - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"GBT Realty Corp. and Koch Real Estate Investments recapitalized One22One, a recently completed, 24-story office tower in Nashville, Tenn.\" \/>\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\/nashville-office-tower-lands-175m-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nashville Office Tower Lands $175M Loan\" \/>\n<meta property=\"og:description\" content=\"GBT Realty Corp. and Koch Real Estate Investments recapitalized One22One, a recently completed, 24-story office tower in Nashville, Tenn.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nashville-office-tower-lands-175m-loan\/\" \/>\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=\"2023-08-31T11:20:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-31T11:21:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/08\/One22One_Nashville-e1693478956145.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1066\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nashville-office-tower-lands-175m-loan\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nashville-office-tower-lands-175m-loan\/\",\"name\":\"Nashville Office Tower Lands $175M Loan - 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