GBT Realty Unveils Plans for Nashville Office Tower
The firm’s plans for the property at 1221 Broadway include an office tower that would feature anywhere from 350,000 square feet to 500,000 square feet of office space.
NASHVILLE—About three months after it purchased a key parcel, GBT Realty Corp. of Brentwood, TN has unveiled plans for a high-rise office tower here in the Gulch neighborhood of Nashville.
In December, GBT acquired a former Firestone retail location and reports that it is under contract to purchase an adjacent neighboring property that would bring the overall project footprint total to 0.77 acres. GBT purchased the former Firestone parcel for approximately $7 million, according to multiple published reports.
The firm’s plans for the property at 1221 Broadway include an office tower that would feature anywhere from 350,000 square feet to 500,000 square feet of office space. The tower would rise anywhere from 23 stories to 27 stories. The project will also feature approximately 7,000 square feet of ground floor retail space.
No development cost for the project was released. GBT has set tentative delivery for the office tower for some time in 2022.
“We’ve designed this tower to be a stunning addition to the skyline that will redefine the Broadway gateway entering downtown Nashville,” says George Tomlin, president and CEO of GBT Realty. “1221 Broadway will be a premiere corporate address in Nashville. Being in the Gulch, it will offer workers immediate walkability to apartments, restaurants, entertainment and grocery. With a Broadway address, the site also has quick connectivity to the center of downtown, out of downtown, and onto I-40 and I-65.”
Tomlin notes that reception to the firm’s new project “has been extremely enthusiastic.”
GBT officials note that the project falls within the Downtown Code and the firm will seek to earn bonus height by delivering elements like street activation and exceptional design.
Gresham Smith & Partners will lead the architect and design team. Brasfield & Gorrie is the general contractor. CBRE brokers Taylor Hillenmeyer, Janelle Gallagher, Frank Thomasson and Byran Fort will market the site for lease.
In January, GBT announced it was nearly completion of its $23-million redevelopment of the Port Charlotte Marketplace in Florida. The firmer reported that Ross Dress for Less, Skechers, Metro Diner, GNC, T-Mobile, Bento House and Essence Nail Salon are coming to the Port Charlotte Marketplace shopping center, which is in the midst of a redevelopment. These tenants will join existing ones like HomeGoods and Burlington Coat Factory as well as Lucky’s Market to the property.
Since its inception, GBT has been involved with the development, construction, leasing and management of more than $6 billion of real estate totaling 35 million square feet of grocery-anchored, neighborhood and single-tenant retail; regional power centers; and mixed-use developments in 27 states.