The Riverview Building

545 Mainstream Drive | Nashville, TN

Landlord Leasing

Square Feet:  86,519

Lease Up:  34 Months

Occupancy:  51% to 100%

 

ASSIGNMENT

  • The new ownership wanted to capitalize on a professional office building with convenient access to an expanding city core while downtown tenants were experiencing sticker shock on escalating rental and parking rates
  • The new ownership made capital improvements to the common areas and exterior landscape
  • The new ownership engaged OakPoint to market the property for lease

 

ACTION

  • OakPoint marketed the property, selling the vision of a professional corporate environment, ease of access to the city core, and economic value of rental rates and parking
  • Within the first 12 months and during capital improvement construction, OakPoint significantly increased occupancy by leasing 23,774SF to new tenants
  • OakPoint leased up of the property while increasing rental rates during the process

 

RESULTS

  • In August 2017 (34 months post-acquisition), the building became 100% leased
  • Increased occupancy by 49% -- from 51% at acquisition to 100% at disposition
  • Increased average rental rate by 21% -- from $15.61/SF at acquisition to $18.83/SF at disposition

 

Key Team Members

Download Case Study

Contact


Nashville

2 Music Circle South, Suite 200
Nashville, Tennessee 37203
615.997.0010 Email Nashville

Austin

8200 North Mopac Expressway, Suite 115
Austin, Texas 78759
512.241.0017 Email Austin