Downtown Nashville Office Space

424 Church St Listing
Nashville-Davidson metropolitan government (balance), TN
# Fifth Third Center PROPERTY ADDRESS: 424 Church Street Nashville, TN 37219 ON-SITE AMENITIES: Fifth Third Bank, Starbuck’s Coffee, Jimmy John’s, Smitty’s Hair Salon, 24 Hour security with card key access, Valet parking, Covered walkway to the Nashville City Club - Downtown Nashville’s only elite business club. CEILING HEIGHTS: Approximate floor to floor height: 13’0” Standard finished ceiling height: 9’0” LOADING DOCK: Dock provides direct access to the building freight elevator. 3 bays in the dock are recessed full truck height spaces, one of which has a dock leveler. SECURITY: The property has 24-hour, on-site security service and a controlled card access system. Security guards located at the lobby security desk monitor street level public entranceways, loading docks, building common areas and parking garage entrances and exits via CCTV. UTILITIES:Telecom: AT&T, Comcast, Level 3 Communications, TW Telecom ELEVATORS: There are a total of fourteen (14) elevators serving the building CAPITAL IMPROVEMENTS: Ownership will be implementing a comprehensive capital improvement and modernization program to maintain and elevate Fifth Third Center’s position as one of Nashville’s premier Class A office environments. Total building capital invested since 2007 totals nearly $6 million. TRANSPORTATION: There are several viable public transportation options available for the area including several bus stops for different lines and the city’s new bicycle rental initiative B-cycle. The building is also be within two blocks of the proposed AMP rapid bus transit route. FLOOR PLATES: Typical floor plates on the office levels of the building range from 16,939 SF to 17,473 SF. PARKING: Parking for tenants and visitors to Fifth Third Center is provided in the 3-level parking garage located directly underneath the office building which contains a total of 154 parking spaces. The utilization of valet parking on one level allows the garage to accommodate 178 on-site parkers. Access to the office building from the parking deck is provided by two passenger elevators which serve all levels of the parking deck and the lobby of the office building. The parking garage is currently managed by Central Parking. Fifth Third Center currently has Option Agreements which provide rights to an additional 200 parking spaces within a block to the building. A 1,250 space garage is being constructed half a block from the building and should be open mid 2016. There are over 8,371 surface and garage spaces within two blocks of the building. WEBSITE: http://www.424churchstreet.com Features - Up to 34,000 SF of contiguous space available - Building & common area upgrades completed in 2015 - 5th/3rd Bank, Starbucks and Jimmy John's on site - 24 hour security with keycard access - Valet parking

Downtown Nashville

Office Space Market Report

Number of Listings (last 90 days)
25
Median Rate ($/sqft/yr)
$35
Median Size (sqft)
8,740
As of: December 10, 2016

Downtown Nashville Rates

On average, listings lease in the $30's per square foot per year. The Downtown Nashville submarket is experiencing a decrease in rates. In the last 3 months, the median rate fell $2 per sqft per year. That's a 6% decrease in rent.

Compared to the rest of the Nashville market, the Downtown Nashville submarket has more expensive rates, and you'll have to negotiate above asking rent to be in this hot region.

Downtown Nashville Listing Supply

In the last 90 days, 30 listings have been made available, which means new listings most likley are leasing quickly. You'll want to be prepared to tour spaces as quick as possible. About 3% of the available leases in the Downtown Nashville are subleases, so you will probably need to sign a longer term lease with the landlord directly. There aren't many listings below 2,000 square feet available, so finding a space for a small business might be tough.

Even though the median size is 7,900 sqft, there are still 0 new availabilities below 2,000 sqft. Most properties in this area are close to 6 stories. Most buildings in this area were built in 1969 and are Class B.

Downtown Nashville Community

This area is fairly equally mixed residential and commercial. Wholesale trade is the dominant industry in this region. Most of the folk of Downtown Nashville work from home. Commuting around 30 minutes a day is the norm for those who opt to reside in this part of town.

Market Report

Trends and status of the commercial real estate market in Downtown Nashville.
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Market Data

Real time and historical data on commercial real estate listings in Downtown Nashville.
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