04 Nashville Commercial Real Estate 3rd Quarter 2013 Elizabethgatlin.com
NASHVILLE MARKET TRENDS
OFFICE LAYOUTS & PRODUCTIVITY
TWO NEW EVENT VENUES
The Nashville commercial real estate market is on itâ€™s way up with these 2nd Qtr. trends.
Is your office space costing you money? Check out tips for increased productivity.
MStreet Entertainment Group is opening two new event spaces: Get a sneak peak here!
Is Your Space A Reflection of Your Business Culture? A case study on finding that perfect space that suits your business needs AND promotes your business culture. PHOTO: PAUL FELTON PHOTOGRAPHY
PLUS Dark Secrets of the Development World: Shocking Tactics Used by Large Corporations.
KW Commercial Keller Williams Realty
CONTENT 6 SPACE FOR YOUR CULTURE How does an oﬃce location really promote your business objectives? Check out this case study in staying true to your identity while searching for space.
10 NASHVILLE MARKET TRENDS 2nd Quarter market report and what to expect for Nashville’s increasing rental rates and property values.
10 MARKET ON THE RISE Nashville’s commercial real estate market is back on the rise. Check out the 2nd Quarter figures.
14 RECENT SALES See which properties are selling in your neck of the woods with recent property sales.
16 DEAL SPOTLIGHT Local commercial listings that have deal written all over them.
18 OFFICE LAYOUTS & PRODUCTIVITY
Does your oﬃce layout increase or decrease employee satisfaction and productivity? Which layouts work the best for your company?
22 CORPORATE BULLIES Some of the tactics used by large corporations are both shocking and appalling but what can you as a property owner do to protect yourself from falling victim to the abuse..
26 EVENTS CALENDAR
27 EVENT SPACES IN NASHVILLE Take a sneak peek at two of Nashville’s newest entertainment venues by MStreet Entertrainment.
Local events to enjoy with family and friends this season.
27 SNEAK PEAK Get a sneak peak at two of Nashville’s up and coming event venues by MStreet Entertainment.
28 TAKE THE LEAP TODAY Meet your new team of real estate experts and let us help you today.
ESTATE EXPERT No. 04 · August 2013 · Year 2 · EDITOR Elizabeth Gatlin CREDITS Images are taken from various sources noted where aplicable. CONTENT Written by Elizabeth Gatlin unless otherwise noted SIGN UP visit Elizabethgatlin.com for more information DISCLAIMER Keller Williams Realty. makes no representation or warranty, expressed of implied, to the accuracy of the information contained in this publication, and it is subject to errors, omissions, changes, withdrawal from the market, and other modifications without notice. No guarantees are made to the accuracy of the articles or implied information.
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT EDITORIAL
HI, Welcome to Estate Expert - A quarterly report geared towards Nashville’s leading commercial real estate decision makers.
f you are like most business professionals this time of year you are probably overwhelmed with all of the work that needs to be done. And like most of us you may feel time is slipping by. After all, summer has come and gone and you still have a large stack of items that need your attention ASAP.
MAKING YOUR REAL ESTATE A PRIORITY I often feel like I am rounding third base in the fall. Sprinting toward the year end hustle and bustle, football parties, and holiday gatherings. It is hard to believe 2014 is really right around the corner. It is also hard to prioritize important matters that don’t necessarily fit into a daily routine. My daily routine is dedicated to my clients and their real estate and space needs. If you have been thinking about your real estate but haven’t made the time
to make it a priority then I am prepared to help you because my days are 100% dedicated to helping you make the best real estate decisions and take actions that will benefit both you and your business.
REAL ESTATE GOAL AUDITING If you have one or a ton of questions about making and enacting some of your real estate goals a reality then please contact me today. Allow me to meet with you and discuss the pros and cons of the many paths you could take. Not only do I love this part of the business, but I am familiar with all the pros and cons of the diﬀerent routes and where they could lead. One of the reasons why taking action can be tough is because there isn’t always a clear right decision. Don’t let 2014 sneak up on you. I can help get your commercial real estate goals on track. for success today.
Elizabeth Jewell Gatlin - Vice President, Brokerage Keller Williams Realty - KW Commercial Nashville Oﬃce
CONTACT: Email: email@example.com Oﬃce: 615-345-7217 Website: ElizabethGatlin.com
BETTER SMELLS. Sometimes that cubicle carpet can start to smell a little musty. Bring in a subtle smelling and appropriate candle to give your immediate area a fresh scent.
BETTER TEXTURES AND PATTERNS. Adding an area rug or decorative pillow to your space can transform your sterile oﬃce into a more homey and inviting atmosphere.
MAKEOVER BETTER SEATING. If you have one of those typical large black oﬃce chairs then your posture and back could be suﬀering. Updating your seating will give you that lift you need.
If you spend most of your time at the office then your space probably needs a makeover. Use these four simple tricks to update your daily routine and invigorate your work space. Read the full article with four more tips at ElizabethGatlin.com BETTER LIGHTING. Typical oﬃce lighting can cause terrible eye strain if you spend a lot of time at the computer. Switch to a table or floor lamp for beter performance.
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT EXPERT AREA
3 MILE RADIUS What happens if you focus your real estate investments on one of the biggest boom cities in the nation? Real Estate portfolio success.
EXPERT AREA Estate Expert focuses soley on happenings in the Metro Nashville area.
CORRIDORS Nashville Real Estate - 12 Major Corridors, 50 miles of Opportunity. CORRIDOR CONNECTIONS
1. 2. 3.
Woodland, Main and Gallatin Hermitage and Lebanon Lafeyette and Murfreesboro Pk.
6. 7. 8.
2nd, 4th and Nolensville 8th and Franklin Pike 12th Avenue South Division and Demonbeun Broadway and
WHY NASHVILLE? Nashville real estate is beautiful. It is historic and varied. After all, there is a deep heritage here that other places do not have and the people really want to be here. Nashville-located companies care and give back. All of these things make our clients the
best people to work with. We understand Nashville and how the urban landscape continues to change and grow. We also understand the opportunities available to companies interested in metro real estate just beyond the downtown core and still connected to it all.
21st Church and West End 10. Charlotte Avenue 11. JeďŹ€erson and Rosa Parks 12. 1st and Dickerson 9.
GO INFILL REDEVELOPMENT is one of the greatest real estate opportunties for growing cities such as Nashville. There are plenty of available parcels ready to be filled by valuable local businesses.
PHOTO BY: ED UTHMAN, HOUSTON, TEXAS, USA (OWN WORK) [CC-BY-3.0 (HTTP:// CREATIVECOMMONS.ORG/LICENSES/BY/3.0)], VIA WIKIMEDIA COMMONS
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT CASE STUDY TEXT ELIZABETH GATLIN PHOTOS VARIOUS SOURCES
IS YOUR SPACE
How does your office culture look? A office space search case study on Nedap Publishing - Nashville’s newest gaming app development company.
BELOW One of the oﬃce spaces on my client’s short list. Clean Class A space.
Recently I had the pleasure of working with Nashville’s newest App development gaming firm, Nedap Publishing, founded by Paden Pierry. While searching through some options for his new team headquarters an interesting question came up; “What type of space is really the best fit for this business’s culture?” Is it open views, clean white walls, and glass in an oﬃce suite by the airport? Or is it a historic and quirky space in a booming downtown environment? His detailed description of how his team works led us to the perfect
location, one that will mirror the culture of the firm and surely enhance their game development performance.
ABOVE The five locations chosen from a list of 70+ oﬃces in the Downtown area.
HIDDEN INNOVATION IN DOWNTOWN NASHVILLE’S ICONIC CUSTOMS HOUSE Paden was actually my first client to show interest in the Customs House located on Broadway, a listing I had been eyeing since it came on the market. He was also interested in some other oﬃce complexes a little further out of town. While touring I noticed some striking contrasts between his favorites that had me puzzled. Does my client want a corporate oﬃce culture or a creative and collaorative culture? Being
RIGHT Carpet and paint choices made to enhance the oﬃce trusses and look.
a tech geek myself and remembering back to my college days where friends and I would spend hours upon hours together in a basement apartment playing Age of Empires surrounded by computers, coﬀee and laughter, I had a hunch about the type of space
his employees might prefer, but I needed to ask anyway. It turns out, tucked away in the Historic Customs House with all of it’s hidden hallways, lawyers and judges, there are a number of units available perfect for com-
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT CASE STUDY
You have been a beacon of encouragement through this whole process! Thanks again! - Paden Pierry, Owner Nedap Publishing
panies with a flair for a unique and creative business culture. The building is also jam packed with charm and character making it a possible breeding ground for architectural and 3D innovation. What better place to create gamescapes than within a building that has intriguing spaces hidden in every corner? Let me know if you are interested in Leasing at this beautiful gem. I was able to negotiate a full makeover of a top floor unit with an incredible steel truss – free rent, new paint, new carpet, new ceiling tiles, all for below market rates. To better match their new space with their oﬃce culture, Paden picked out a new color
RIGHT 3D modeling of a gaiming app: Fastest Possible Adventure, by Nedap Publishing.
scheme for the oﬃce to transform the existing rooms from dark and dirty to open and airy: perfect for their group work sessions, computer programming, and gaming development. If you would like to know more about how I can help you match your space to your business culture then call me today.
FASTEST POSSIBLE ADVENTURE We take a humorous approach to the adventure genre, starting with your Hero jumping out of bed, running out his front door, straight into his adventure. Once your adventure begins, you see how fast you can complete the level. This is done by vaulting over obstacles, sliding under obstructions and finishing the objectives for the Quest Giver, defeating foes along the way.
NASHVILLE MARKET ON THE RISE 2nd Quarter Market Report 2013 The 2nd quarter shows a steady increase in Nashville’s market sectors. Office, Retail, and Industrial transactions have been on the rise since the downturn in 2009. The beginning of a rising market is the best time to start investing in Nashville CRE. he Nashville Oﬃce market closed the quarter with negative 75,000 SF of absorption, dropping the year-to-date tally to just under 110,000 SF positive. Vacancy rates are increasing for the first time in three quarters to 9.3%; however, rental rates are also increasing despite this turn in vacancy. The Green Hills/Music Row market is seeing overall rental rates up to $22.90/SF compared to $21.23 last quarter. This increase is mainly in the class B sector. The Downtown market has seen the most vibrancy this year with a YTD absorption of over 80,000 SF. Sony Corporation signed the largest lease, pulling in 50,000 SF at Fifth Third Center.
The Nashville Retail market remained relatively stable at the mid-year mark with just over 3,000 SF of absorption, totaling negative 9k SF for the year. Overall vacancy rates remain steady at the 5.6% mark, however Brentwood experienced the biggest dip going from 4.6% last quarter to 4.15% this quarter. This is largely due to new tenants in the 1,2004,000 SF range and very few vacancies coming on the market. Rutherford County had the largest impact this quarter with over 30k SF of absorption which is attributed to Kroger expanding at Innsbrooke Towne Square. Planet Fitness signed the largest lease with 20,598 SF at Due West Plaza The Nashville industrial market hit the mid year mark
with nearly 380k SF of positive absorption, knocking the year-to-date total to over 750k SF. Vacancy rates continue to decline for the fifth consecutive quarter. The East and Southeast submarkets witnessed the most significant drop from 12.6% to 11.9% and 11.3% to 10.9% this quarter, respectively. Warehouse Distribution space had the most vibrancy with nearly 180k SF of absorption, followed closely by Bulk Warehouse with nearly 160k SF. Communications Test Design inked the largest lease with 142,500 SF at Commerce Farms 4.
XCELIGENT, INC. The compiled data to the left has been compiled from “2nd Q 2013 Market Trends” by Xceligent, Inc. All Rights reserved.
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT MARKET TRENDS TEXT XCELIGENT, INC. PHOTO GOOGLE MAPS
MARKET SECTOR VACANCY
Overall vacancy rates in the Dowtown area have decreased from 17.3% in 2nd Quarter 2012 to 13.2% 2nd Quarter 2013.
Vacancy rates continue to decline in the Dowtown / West End markets from 7.06% in 2012 to 5.19% in 2013.
Overall vacancy rates have also dropped slightly in the Industrial Business District from 6.85% to 6.16% in 2013.
LEASE RATES 12
Downtown lease rates keep going up which is great is you are looking for passive income, but not so great if you are looking for space. You have to start early if you want to compete, just call me today!
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT LEASE RATES RETAIL LEASE RATES
RETAIL Retail Rental Rates: Metro Nashville lease rates are closer to the top of the ranges shown.
OFFICE LEASE RATES
OFFICE OďŹƒce Rental Rates: Metro Nashville lease rates are closer to the top of the ranges shown.
INDUSTRIAL LEASE RATES
INDUSTRIAL Industrial Rental Rates: Metro Nashville lease rates are closer to the top of the ranges shown.
Drive Down Broadway Photo: Elizabeth Gatlin
SALES IN TOWN
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT SALES COMPS
1506 CHURCH ST
602 GALLATIN AVE
600 JEFFERSON ST
4,904 SF - Warehouse SOLD May 2013 $950,000
13,360 SF - Commercial Oﬃce SOLD June 2013 $750,000
61,866 SF - Commercial Retail SOLD August 2013 $3,600,000
5,160 SF - Commercial Oﬃce SOLD August 2013 $1,100,000
307 29TH AVE N
908 SHELBY AVE
3 MCFERRIN AVE
3307 CHARLOTTE AVE
1,186 SF - Oﬃce SOLD November 2012 $525,000
12,962 SF - Apartments SOLD June 2013 $575,000
5,100 - Flex SOLD August 2013 $550,000
8,632 SF - Oﬃce SOLD June 2013 $735,000
OFFICE / RETAIL SPACE FOR LEASE 1,700 SF of Oﬃce or Retail space is now available right oﬀ of the bustling Charlotte Avenue corridor in Downtown Nashville. The newly remodeled space could be used as a live-work opportunity. Perfect for a medical user, creative studio or law practice. Provides easy access to interstates, other medical oﬃces, retail, restaurants and more. • New floors and painted white walls • Recently remodeled • Easily made Handicap Accessible with existing ramp • On Street Parking • Clean Open Floor Plan • Convenient central location • Quick interstate access • Flexible layout / build-out ready
Contact Elizabeth Gatlin for information: 615-345-7217.
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT DEAL SPOTLIGHT
$13 - $16 / SF NNN TOTAL AREA:
+/- 1,700 SF DIVISIBLE TO:
FRONT +/- 1,100 SF BACK +/- 600 SF
Businesses all over Nashville have recently been remodeling to a new openconcept seating arrangement. But is this configuration really the most productive way to work?
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT OFFICE E LA AYOUTS TEXT ELIZABETH GATLIN PHOTOS VAIRED
which ones are the best? How should you really start to handle the infamous oﬃce layout? Well first oﬀ, if at all possible, always air on the side of open communication about seating arrangements. By putting as many systems in place to give others ownership of their lives you will notice giving them freedom actually PAYS oﬀ. Before you do anything (oﬃce relocation included), poll your employees. It will tell you wonders. Plus by letting your employees make decisions about their working environment you will boost trust, morale, connectivity and inner oﬃce good will therefore also boosting productivity. Karma goes a long way in this situation and you will notice a diﬀerence immediately.
Even the State of Tennessee’s proposed oﬃce remodel for the new Tennessee Tower location will have the stripped down minimalist style. Find out how varying oﬃce layouts can have profound eﬀects on worker performance.
SHOULD YOU ASK YOUR EMPLOYEES FOR INPUT? Seating arrangements: every boss, manager and bride’s worst nightmare. They have the potential to empower or cripple employees, make or break evenings and seminars, and they can have a huge impact on your bottom line whether you know it or not. So
ABOVE Japanese Business Furniture by KOKUYO.
When it comes to oﬃce seating arrangements I have seen the good, the bad, and the dysfunctionally ugly. Here are some instances I have witnessed where employee performance was severely undermined by ineﬀective and imposed seating arrangements: An entire team’s productivity was sacrificed because the loudest member of the group was placed in the middle of the space and no one could concentrate on tasks because they couldn’t think over her amplified phone conversations. •
An undesirable seat became cursed as no one that ever sat in that cubicle ever stays with the company more than a year. The quiet, introverted employee was placed with his back to the major circulation
space in the oﬃce making him always nervous and on edge. The stress began to affect his job performance. An administrative assistant is seated too close to the boss and eventually begins to feel rebellious and resentful as the overbearing proximity weighs down on his sense of self, independence and security. Two employees who are not fond of each other are forced to sit side by side and are constantly distracted by the other’s animosity. Neither ever seem to want to come to work and they carry poor attitudes even when the other is not there.
Certain open oﬃce layouts can cause undue stress. If you ask your employees how they can best perform their jobs when it comes to an oﬃce layout then you will find the best seating arrangement for them and therefore avoid the above pitfalls. Now comes the hard part: actually giving them what they want and need to be productive.
SEATING PREFERENCES BY AGE GROUP It seems there are actually two mindsets when it comes to seating preferences in oﬃce space and it has a lot to do with age and tenure. I had the pleasure during one oﬃce remodel to talk with every employee about their preferences, how they chose their current placement, and how they would like to change their seating arrangement to help them to be more productive. Exactly half of the employees mentioned a tendency to want to face towards
BOW TRUSS BUILDING This exciting redevlopment project sits in a Germantown historic industrial building and oﬀer Class A oﬃce space close to everything .
RAGLAND BUILDING Home to Asurion’s new headquarters, this new oﬃce space actually received dexsign awards from the Urban Land Institute.
NEW NASHVILLE OFFICE SPACE THE SHEDS ON CHARLOTTE This new adaptive reuse warehouse development will hold 42,750 sf of new oﬃce and retail space.
New office spaces are popping up all over town and they aren’t your typical run of the mill office towers.
CANNERY ROW The Cannery Row building is staying true to it’s nature with the addition of new oﬃce space for Nashville’s Green Room recording studio.
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT OFFICE LAYOUTS ing their oﬃce layout was to give the employees what they wanted by splitting the oﬃce layout into a doughnut type configuration; the outer ring facing the windows and the inner ring facing a centralized meeting area. I would have never been inclined to design the oﬃce in that way had I not asked the employees the right questions. So do you like the window or the aisle? Read more about designing oﬃce space to accommodate the needs of multiple generations.
PRIVACY IN THE WORKPLACE
the exterior of the oﬃce while the other half liked to look in so they could connect with their peers. The younger employees preferring the inward facing seats and the older employees preferring the outward configuration. These comments can actually say a lot to an employer about their workforce’s current professional needs. My suggestion to management when develop-
ABOVE State of Tennessee’s Oﬃce Remodel T3 in the Tennessee Tower. View the Youtube video of before and after at ElizabethGatlin.com
Surprisingly, privacy was the number one concern of all ages in the case study. The younger employees mentioned a desire for connectivity and also a desire to maintain personal privacy within their immediate environment while the older employees ranked auditory distractions such as other’s music and conversations as large performance drains. Read
Inc.com’s article on the Top 6 Oﬃce Distractions Without privacy both groups said they did not feel as productive during work hours. So do open oﬃce concepts provide enough privacy to be eﬀective? Often times not, unless they are supplemented with private spaces that can be comfortably occupied. For instance meeting rooms may provide privacy but they do not provide space for employees to work in private for extended periods of time. If you want an open oﬃce for collaboration then be sure to provide your employees with a balance of private space so they can be more productive. If you have a feeling your current oﬃce space is not working to your benefit but can’t put your finger on how to change it then contact me today. A quick informal session could be just the thing you need to start transforming your oﬃce layout to better benefit your employees and your bottom line.
LEFT Sketch by Greg Robinson Interiors diagraming oﬃce space programming.
The addition of multiple apartment complexes will mean change for Nashville, bringing new consumers to the market.
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT DEVELOPERS CORNER TEXT ELIZABETH GATLIN PHOTOS VARIED ADAPTED MEDIA.
CORPORATE BULLYING -
DARK SECRETS OF THE DEVELOPMENT WORLD NOTICE: Reading this article may cause raised blood pressure and incite angry outbursts and outrage. Please consult your physician prior to reading if you have a history of these tendencies. The eﬀects may be permanent:
Walmart be an ideal tenant? – They have great credit, a large market share, tried and true business models…
When I think of bullying, I usually think of it as a problem that plagues awkward middle school and high school kids. Mean Girls with Jocks and Dweebs instantly come to mind and I feel amazingly lucky (Que: “Huge sign of relief”) to have gone to a “smart kids” school where we really didn’t have bullies. The honest truth though is that recently I have been privy to some startling instances of bullying in the corporate world that makes me both angry and shocked.
Say Walmart signs a 10 year lease on your property. You are thrilled to have a solid tenant for the next ten years and are seeing the dollar signs rolling through your dreams. Every month they will be paying you $10,000, which covers your monthly note and gives you a little extra room to continue to maintain your asset. You eagerly sign away and start planning your next large warehouse purchase. Everything goes smoothly for a while until around November.
LEASING TO WALMART, THE CORPORATE GIANT
LEFT Forbes Magazine Cover September 2010 highlighting Walmart CEO, Mike Duke.
It all started with some talks of Walmart, the corporate giant, one late afternoon… “Never Lease to Walmart!” Angrily grumbled a fellow broker slamming down some paper. Puzzled I asked why? Wouldn’t a solid company like
The ugly truth is in the story he told me:
You don’t receive your monthly check. Hmmm, Walmart will pay their rent right? You call a friend who leases to Walmart out on the West Coast and they haven’t received a check for November either. And to make matters worse every time you call Walmart you get pushed through to a lawyer’s voice mail. Now technically they are in breach of their Lease contract and you have the right
to kick them out. But why would you throw away 9 more years of lease payments? A large tenant like Walmart isn’t just going to fall into your lap tomorrow. Come to find out, word on the street is that about once a year Walmart looks at their books and decides to not pay their rent across the board at all of their locations. If a certain area needs to recoup a loss, your monthly rent check is one of the first ways to do it. While you are out $10,000 they are saving millions! And guess what, you can’t do anything about it. Their lawyers are going to take your small time guy to town and you will be out of even more money. Infuriating, I know! And this isn’t the only company that uses these bullying tactics to save themselves money and force your hand.
HOW MANY CORPORATIONS USE BULLYING TACTICS? Which makes you wonder, how many large corporations are using these tactics? And how far do the scandals go? Now, just so you know, I am not biased against big companies like Walmart. After all my cousin has happily worked for a division of Walmart for years and they do a lot of good for a lot of people. They play a big game with lots of complexity. However, the bullying is so in your face it’s hard not to be miﬀed. As I came across other examples I became even more baﬄed. I had posted a simple article in our East Nashville Facebook Group about a historic property being put up for demolition (It sits on one of Walmart’s sites) and there was an overwhelming outpouring of discussion. According to the
comments, Walmart isn’t the only corporate giant guilty of bullying when it comes to development issues, Home Depot is right there with them having demolished a building without permits just to get a store built. Which other companies are on the bully list?
IT DOESN’T MATTER WHAT YOUR NEIGHBORHOOD WANTS I was waiting with a fellow broker to show a building last week and we were gabbing about all the goings on around town: “This is going here, I heard this was going there, so and so bought this property, etc…” You know, Broker gossip. Anyway he mentioned how Starbucks was recently working on a deal where they would
ABOVE Corporate logos of some of the worlds giants.
be purchasing a property right oﬀ of Main and Gallatin across from East Magnet. Starbucks East NashvilleThe deal fell apart because Starbucks was worried about all the school zone parking attendants slowing traﬃc to a crawl making it diﬃcult to get drive through customers in and out quickly, but he thought none the less it would have been great for all the East Nashville “hipsters”. I said, slightly oﬀended: “Woah, hipsters usually don’t trust large scale corporate businesses. They prefer local owners even if the large companies provide coﬀee (a hipster must have) and are from Portland, wink wink. Our neighborhood association would be up in arms about that deal had it gone through.”
He laughed. “It wouldn’t matter what your neighborhood association wants or doesn’t want. It’s Starbucks, they are going to do what they want and wouldn’t care.” And he is right, Ouch. So what do you do? How do you fight corporate bullies?
HOW TO HANDLE LARGE CORPORATE BULLIES Know the warning signs. If you are a property owner, your Broker’s antennae should go oﬀ if you have a potential problem on your hands. I pay close attention to the warning signs and always let my client know if I see a possible problem on the horizon. Some tall tale phrases that could tip you oﬀ during negotiations are:
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT DEVELOPERS CORNER
“We are a publicly traded company. You can check our financials online.”
Wouldn’t a company like Walmart be an ideal tenant? - Great credit, large market share, tried and true business models....
This tells the Landlord nothing about a company’s current financial standing when it comes to paying rent. Asking for references from previous Landlords would be a great alternative to simply looking at online sources of financial standing. If you have ever played the stock market, you know how drastically these “financials” can change. Ask for another source of financial information and make sure the numbers make sense.
a deal beyond the norm then they are more likely to be unruly because no one is held accountable. Understanding the chain of command and having only one or two points of contact will be beneficial to your success. If anything happens down the line you will be better able to get issues resolved and side step this type of corporate run around.
“I know so and so on the council, board, or government payroll . It shouldn’t be a problem.” Just know, 9 times out of 10 it WILL be a problem. Mentioning the use of outside parties to help throw some weight is a bad sign. Some companies will use the local Chamber of Commerce, or connections in Zoning and Codes or politicians as backing constituents. The best way to combat this type of bullying is to know your property. Documentation always speaks louder than the mobs. You will save precious time by dotting your is and crossing your ts before you make a deal.
BELOW Proposed Starbucks for East Nashville
negotiations is critical to protecting your interests and assets. I will be able to see the warning signs and we can weight the risks and take action accordingly. Don’t get stuck in a corner the next time a corporate bully throws a punch your way. Call me today..
The best way to handle corporate bullying in commercial real estate is to call me! And the best way to beat a bully is to outsmart them. Having someone like me, an expert on your side during
“We need for our lawyers, board of directors, international VP, a second Broker and five other people to review this before we can get the okay.” Wait a second, so who is in charge here? Smoke and mirrors usually means you are about to get punched in the face, seemingly out of nowhere. If a company is utilizing multiple angles to work
FLOAT & MASSAGE Float Tank Center Grand Opening! SEPTEMBER 20TH Nashville now has a hydrotherapy Float Tank Center right in Berry Hill. Their grand opening is scheduled for September, 2013. Float tanks are used
in conjunction with massage for a variety of ailments including: pain, stress, Autism, body aches, injury, and ADHD. This center will be the first of it’s kind to open anywhere in Tennessee.
Learn more about the tanks themselves or simply go get a massage. Schedule an appointment today at: NashvilleFloatandMassage. com.
SEGWAY Looking to see Nashville from a new perspective? Come on a Segway Tour! SEGWAY OF NASHVILLE I recently had the pleasure of touring downtown Nashville on a Segway. (One of the coolest things I have done all year!)
LA PETITE MORT IV OCTOBER 26, DUSK TILL DAWN Get ready for our fourth annual Halloween gala. This
year’s theme, “Mad Doctor” is sure to cause you both intrigue and discomfort. Join us
saturday evening for a night of crazy fun. Costumes a must! Contact Elizbeth Gatlin for all the details.
If you have never taken a ride on a Segway then do it today. I felt like one of the Jetsons floationg around my
own hometown. The guys are friendly and it is fun for the whole family. Tours are available Monday through Sunday: 9am, 12pm, and 3pm. Or schedule your own private tour group. Call: 615-244-0555 to schedule today!
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT MA ARK KETING
A SNEAK PEAK An insider’s look at two of Nashville’s newest entertainment venues. wo hot new event spaces are opening next to Virago in Downtown Nashville and I was lucky enough to get a private sneak peak with CCIM of Middle Tennessee. See what MStreet Entertainment Group has in store for the ever changing Gulch.
THE ROSEWALL – EVENT SPACE FOR MUSIC CITY VIPS Directly next door to Virago is the making of a new plush event venue; the Rosewall. This redeveloped industrial space was actually named after a small graﬃti painting of a rose on the exterior wall of the building
and will be blossoming into one of the newest go to spaces for music city VIP’s, weddings, and corporate gatherings. The venue features not only a large double height room that can seat over 1,000 guests, but it also boasts the latest sound system technologies for live performances. To my delight they have even kept many of the elements of the existing industrial architecture. During our tour, Jamie Bibler highlighted the distinct characteristics they were preserving including the large windows in the rear of the space. Instead of blocking out the less than ideal views they preserved the windows and are utilizing frosted glass to enhance the interior with
MSTREET ENTERTAINMENT GROUP Both pictures are taken from our tour of the two venues.
natural light. The natural brick and exposed structure further makes the space feel like a hidden loft within the bustling Gulch Industrial Redevelopment
NASHVILLE IS FINALLY GETTING A LEGITIMATE TEQUILA BAR: SAINT ANEJO CANTINA 120. We were told this new restaurant and event space will be serving over 100+ diﬀerent types of tequila. You know Nashville is getting big when we have a restaurant dedicated to this feisty drink.
REAL ESTATE TEAM
ESTATE EXPERT KW Commercial Keller Williams Realty Nashville Office
W Commercial’s commitment to excellence has been proven time and time again by the results that our agents produce for their clients. When you engage KW Commercial, you aren’t simply hiring a broker; you are hiring an entire company and a network of dedicated commercial real estate professionals across North America. KW Commercial is the commercial real estate arm of Keller Williams Realty, Inc. an Austin, Texas-based real estate franchise company with over 77,000 real estate agents, operating in
more than 675 market centers (oﬃces) across the globe. With KW Commercial specialists, you have a network of talented and committed people all working towards a common goal: success for your business. We use our individual expertise, combined with access to market intelligence that few companies can match to help you achieve and surpass your business goals. KW Commercial provides integrated real estate services for clients in virtually any market worldwide.
CALL ELIZABETH GATLIN TODAY! 615-429-3382 ESTATE EXPERT ABOUT
ELIZABETH GATLIN MORE ABOUT ELIZABETH Elizabeth Gatlin is an architecture and property investment specialist focused on metro Nashville real estate. She works with clients interested in owning, selling, or leasing commercial real estate. Elizabeth is a born and raised Nashvillian graduating from Hume Fogg Academic Magnet. She was the Top Graduate from the College of Art and Architecture in 2009 and holds an Honors Bachelor’s degree in Architecture from the University of Tennessee, Knoxville. Elizabeth has been involved with both public and private initiatives that develop Nashville as a quality place to live and work. Her experience with companies and leaders developing the Middle Tennessee region gives her insight into the best deals in town. She lives with her husband in East Nashville’s Lockeland Springs neighborhood.
SERVICES: Mrs. Gatlin specializes in real estate transactions occurring in Nashville’s Central Business District, including North of the Capitol, Music Row, The Gulch, SoBro, Midtown, and the East Nashville submarkets. She provides the following comprehensive list of real estate services to her clients: • • • • •
Brokerage representation and facilitation for buyers and sellers of real property. Investment analysis for acquisition and disposition of real property assets. Portfolio management and consulting for companies seeking to gain strategic benefits from their owned or leased real estate portfolio. Development and market studies for investors seeking to enhance their portfolios. Architecture and built-to-suit / redevelopment consulting.
Since joining the beginning her real estate career., Mrs. Gatlin has been involved in multiple transactions, including work with publically traded manufacturing, health services, and distribution companies. Recent clients include: Invacare Continuing Care Jimmy Johns BNA Technology Panache’ After Dark Pad Thai Kitchen Tennessee Awnings Utopia Renovations Nissan
State Farm Mundo Tax Cardinal Health Nashville Float and Massage Design & Engineering Inc. Nashville Improv Company Nedap Industries RGH Enterprises
Contact Elizabeth Today! 615-429-3382 firstname.lastname@example.org Keller Williams Realty 30 Burton HIlls Blvd., Suite 400 Nashville, TN 37215 615-425-3600
I just want you to know that Elizabeth Gaitlin was perfect! One of the hardest working and dedicated agents! She has gone so far above and beyond for us. What a great person to have on your team! - Nashville Float and Massage
DON’T MISS NEXT QUARTER’S ISSUE!
SIGN UP AT Eizabethgatlin.com and enjoy email newsletters - We will not share or distribute your information with other companies. Also if you are interested in advertising in
this publication, please contact Elizabeth directly at egatlin@ gatlinglobal.com. To see all of Elizabeth’s real estate listings and to learn more about services visit ElizabethGatlin.com