Marketplace: Commercial Real estate takes break

Tuesday, April 15, 2008 at 1:48am

Chirp. Chirp. Chirp. You can hear the grasshoppers in the silence of the commercial real estate community.

Deals seem to be few and far between and tenants on the small deals treat their new location as state secrets.

Golf games must be improving right about now.

Brokers have been grumbling some about the lull in the market. After all, they work on 100 percent commission.

This usually happens about this time of year. The first part has a flurry of activity left over from the end of the previous year. Then spring break hits for high schools and colleges and vacation time rolls into the real estate business.

Brokers say there are plenty of deals in the pipeline, some big and some small.

Economic development officials are chasing some big deals. If they all land, it’s 1 million feet of space. Bridgestone looking for a research and testing center location would be half that at 500,000 square feet.

Going forward this year, Nissan Americas leaves downtown to fill its new headquarters building in Cool Springs. There’s some discussion that the company is looking for additional space already.

Brokers are eager to see more Nissan contractors arrive to town to lease space. Some of the contractors are said to fill several limited-service hotels during the week.

Healthways hasn’t fully moved into its headquarters and brokers already are talking that the company is looking for more space, too.

Meanwhile, Lionstone is about to begin construction on its office project a few blocks away at the Music Row Roundabout.

Marketplace appears Tuesday in The City Paper.Have an item to share? E-mail it to rlawson@nashvillecitypaper.com

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