Business Moving, Downtown Nashville May Be Your Opportunity!

Business Moving, Downtown Nashville May Be Your Opportunity!

September 26, 2017
Cherry & Associates

Downtown Nashville is prospering quickly.  This can offer both positives and negatives for business owners who are trying to choose the best location to plant and grow their business.  There is not a one size fits all answer for each and every business when it comes to deciding if downtown Nashville is the right location for a business home.  All companies will need to take the time to evaluate all factors and then make a decision if downtown or a nearby suburb market fits their company profile best.  For some companies to be centrally located in the heart of town is ideal.  While there is a tremendous amount of construction underway, and multiple cranes in the Downtown area, the energy, walkability and close proximity to many restaurants and hotels provide a great atmosphere for connections.  There is a convergence in the Downtown area of living, work and play alternatives that make this a truly unique experience for any company to locate.

Bridgestones Corporate Office- Cherry and AssociatesBridgestone’s Corporate Office is set to open in the heart of the bustling downtown core within weeks. It will bring with it an employee base of over 1,700 people. There have been multiple wins, similar to the Bridgestone relocation for the energy and growth of Downtown Nashville, but with the continued growth comes increased congestion, of which, Nashville has never experienced.

As companies like Bridgestone are increasing their footprint or adding a new footprint to the Downtown market, there has been an increase in cranes within the Downtown area, causing road closures and longer commutes just to travel a few blocks. That posed a problem for a recent office client who had been established in the downtown office market for over 20 years. However, the advances in technology for their business and the frustrations of trying to navigate the downtown road closures and increased traffic issues forced them to decide to look outside the Downtown area for their next office. This particular client chose to move to a suburban submarket, and their clients were pleased with the decision to move out of the Downtown area.

While change is beneficial for many that want to experience the growth and vibrant atmosphere of what Downtown Nashville is becoming, it is a variance that could prevent some companies from flourishing because the atmosphere is no longer aligned with the direction of their future business model, and it creates a challenge for their customers when attempting to access their office.

Each distinct submarket in Nashville offers a different appeal and atmosphere; Nashville Map - Cherry and Associatesbecause of this, each company chooses their location based on the either the close proximity to their residence, the most central location for the vast majority of employees with a commute, or demands and advantages of being a part of a major industry located within a specific submarket. The diversity that Nashville provides lends a different and unique character that grants each business an opportunity to thrive in the “It” City of Middle Tennessee.

Sources: 2nd Quarter Report-Xceligent
Nashville Business Journal Article: “Sneak Peak: Downtown’s next towering skyscraper completion” by Eleanor Kennedy
https://www.bizjournals.com/nashville/news/2017/04/07/sneak-peek-downtowns-next-towering-skyscraper.html

Downtown Nashville is prospering quickly.  This can offer both positives and negatives for business owners who are trying to choose the best location to plant and grow their business.  There is not a one size fits all answer for each and every business when it comes to deciding if downtown Nashville is the right location for a business home.  All companies will need to take the time to evaluate all factors and then make a decision if downtown or a nearby suburb market fits their company profile best.  For some companies to be centrally located in the heart of town is ideal.  While there is a tremendous amount of construction underway, and multiple cranes in the Downtown area, the energy, walkability and close proximity to many restaurants and hotels provide a great atmosphere for connections.  There is a convergence in the Downtown area of living, work and play alternatives that make this a truly unique experience for any company to locate.

Bridgestones Corporate Office- Cherry and AssociatesBridgestone’s Corporate Office is set to open in the heart of the bustling downtown core within weeks. It will bring with it an employee base of over 1,700 people. There have been multiple wins, similar to the Bridgestone relocation for the energy and growth of Downtown Nashville, but with the continued growth comes increased congestion, of which, Nashville has never experienced.

As companies like Bridgestone are increasing their footprint or adding a new footprint to the Downtown market, there has been an increase in cranes within the Downtown area, causing road closures and longer commutes just to travel a few blocks. That posed a problem for a recent office client who had been established in the downtown office market for over 20 years. However, the advances in technology for their business and the frustrations of trying to navigate the downtown road closures and increased traffic issues forced them to decide to look outside the Downtown area for their next office. This particular client chose to move to a suburban submarket, and their clients were pleased with the decision to move out of the Downtown area.

While change is beneficial for many that want to experience the growth and vibrant atmosphere of what Downtown Nashville is becoming, it is a variance that could prevent some companies from flourishing because the atmosphere is no longer aligned with the direction of their future business model, and it creates a challenge for their customers when attempting to access their office.

Each distinct submarket in Nashville offers a different appeal and atmosphere; Nashville Map - Cherry and Associatesbecause of this, each company chooses their location based on the either the close proximity to their residence, the most central location for the vast majority of employees with a commute, or demands and advantages of being a part of a major industry located within a specific submarket. The diversity that Nashville provides lends a different and unique character that grants each business an opportunity to thrive in the “It” City of Middle Tennessee.

Sources: 2nd Quarter Report-Xceligent
Nashville Business Journal Article: “Sneak Peak: Downtown’s next towering skyscraper completion” by Eleanor Kennedy
https://www.bizjournals.com/nashville/news/2017/04/07/sneak-peek-downtowns-next-towering-skyscraper.html
About the Author
Cherry & Associates
Cherry & Associates specializes exclusively in representing tenants and buyers of commercial space and properties. Our no-conflict approach allows us to deliver objective, unbiased, advice, as well as provide no-cost, high-value, services that give you the best possible value for your real estate investment. If your company needs to expand, contract, merge, relocate, or renew an office lease(s), locally or globally, Call us today, at (615) 366-1098 All information provided herein is from sources deemed reliable but no warranty, expressed or implied, is made.