Organizations Aim to Put Companies in Their Sites
Published May 19, 2008
Downtown Nashville office buildings include the 33-story AT&T Building and the Commerce Center.
One need only consult a map to determine one of Middle Tennessee’s greatest competitive advantages. With its strategic location and comprehensive transportation network, this burgeoning business center offers ready access to most major markets. In fact, more than 50 percent of the U.S. population lies within 650 miles of Nashville.
But as most employers will attest, it takes more than simple geography to make an expansion project work. So why is it that the Nashville area is at the top of so many corporate site lists? According to local development professionals, the reasons are as diverse as the local business market itself.
“One thing that sets Nashville apart is our stable economy,” says Axson West, principal with Southeast Venture LLC, a real estate services company that works with office, industrial and retail clients. “We’re enjoying steady growth, including a lot of expansion from within. Our economic picture is well diversified, and we also offer a very pro-business environment. When you combine the efforts of the Nashville Area Chamber of Commerce, the state eco-nomic development team, TVA and other organizations, it’s pretty impressive.”
Patrick G. Emery, senior vice president, Tennessee Region, with Charlotte-based developer Crescent Resources LLC, concurs, adding that workforce issues often drive location decisions.
“Our people make all the difference, not only in terms of work ethic and level of education, but also the distribution of the workforce. That’s important for potential employers - they want to know that they can draw qualified workers from a multi-county region.”
Emery, who worked closely with Nissan North America Inc. in the decision to relocate its headquarters to Williamson County, says the Cool Springs area is a natural for corporate headquarters.
“We have 20 Fortune 500 companies at Corporate Centre of Cool Springs, with plenty of room for future growth,” he says, referring to the Class A office development located just 15 miles south of Nashville’s central business district, off Interstate 65. “But what makes the difference to companies like Nissan is how that growth is managed. Nissan wanted to know how the rest of Cool Springs would develop into the future and how the community would be addressing infrastructure needs and traffic issues.”
“There are 50 different ways to look at a single site, but with-out that planning and communication, the deal won’t work.”
Of course, downtown Nashville remains prime real estate for companies relocating or expanding. Next door to the historic Ryman Auditorium a new 13-story office building, SunTrust Plaza, is under construction, offering 340,000 square feet of commercial space. Nearby, residential condominium towers are sprouting or planned, further evidence of downtown’s vitality.
Along with expanding office developments, Nashville also remains a key player in terms of industrial development.
“The industrial picture has always been pretty strong for Nashville, thanks to our location and infrastructure,” says David McGahren, industrial division leader of Colliers Turley Martin Tucker, a commercial real estate firm. “But we’ve emerged as a true distribution hub in the last 10 years. Prior to that we didn’t have the product available, but we’ve seen a lot of big-box development come on line - and that has made a difference. The right sites, coupled with the right workforce and quality of life, have helped put Nashville on top.”
Indeed, companies such as Clarcor Inc., Hot Topic and Olhausen Billiard Manufacturing Inc. recently have established major operations in the region, citing everything from affordable operating costs to the ease of working with local officials.
“All the municipalities are very helpful when it comes to working with new businesses,” McGahren says. “It’s kind of a domino effect. As one company selects Nashville, others start to ask why - and it just takes off from there.”
Story by Amy Stumpfl
Photo by Wes Aldridge
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