The beginning phase of construction began Thursday on Verizon Wireless’s new regional headquarters.
Located at Duke Realty’s Aspen Corporate Center near Cool Springs, the 180,000-square-foot facility will be able to accomodate more than 1,300 employees when it is complete. About 550 Nashville Verizon Wireless workers will transfer there, and an additional 600 to 700 will be hired over the course of the next three to five years, the company says.
The $54 million facility is expected to be complete in fall of 2008.
Tennessee and Williamson County tax incentives have been approved for the development, Verizon Wireless officials have said they chose the area primarily due to the amenities and convenience of Cool Springs. They’re not alone – in the last few years, the area has evolved into a hotbed for corporate relocations, drawing companies including the still-under-construction Nissan North America headquarters. Mars Petcare US recently moved into another building at Aspen Grove.
Coleman Aycock, senior leasing representative for Duke Realty, said in an interview Thursday that most of the square footage at Aspen Grove is now under contract. Construction of the building that will be erected for Verizon Wireless was “on the board” before the contract was secured, Aycock said, but Verizon Wireless’s plans have contributed to the positive momentum of Aspen Grove.
Duke is also currently developing two more projects nearby, including 18 acres on Carouthers Parkway and 21 acres near the intersection of Carouthers and Liberty Pike. Those properties are slated for development of more corporate headquarters-ready, Class A office space, Aycock said.
“The Cool Springs Market is strong enough to support increased development,” Aycock said. “Very definitely, it’s momentum for Duke. But it’s momentum for the entire community.”
Verizon Wireless officials said Thursday that construction of the regional headquarters will create area jobs long before the building is complete. About 95 percent of subcontractors working on the project will be local residents, according to information from the company, and an estimated 75,000 to 80,000 man-hours will be required for construction.