Estate Expert - 04

ESTATE

PPPLLUUUSSDark Secrets of the Development World: Shocking Tactics Used by Large Corporations.

NASHVILLE MARKET TRENDS

OFFICE LAYOUTS & PRODUCTIVITY

TWO NEW EVENT VENUES

The Nashville commercial real estate market is on it’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 Refl ection of Your Business Culture?A case study on finding that perfect space that suits your business needs AND promotes your business culture.

04Nashville Commercial Real Estate

3rd Quarter 2013

Elizabethgatlin.com

KW CommercialKeller Williams Realty

PHOTO:PAUL FELTON PHOTOGRAPHY

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MARKET ON THE RISE

EVENT SPACES IN NASHVILLE

CONTENT

Nashville’s commercial real estate market is back on the rise. Check out the 2nd Quarter figures.

Take a sneak peek at two of Nashville’s newest enter-tainment venues by MStreet Entertrainment.

6 SPACE FOR YOUR CULTURE How does an offi ce location really promote your business objectives? Check out this case study in staying true to your identity while searching for space.

10 NASHVILLE MARKET TRENDS2nd Quarter market report and what to expect for Nashville’s increasing rental rates and property values.

14 RECENT SALESSee which properties are selling in your neck of the woods with recent property sales.

16 DEAL SPOTLIGHTLocal commercial listings that have deal written all over them.

18 OFFICE LAYOUTS & PRODUCTIVITY

Does your offi ce layout increase or decrease employee satisfaction and productivity? Which layouts work the best for your company?

22 CORPORATE BULLIESSome of the tactics used by large cor-porations are both shocking and ap-palling but what can you as a property owner do to protect yourself from falling victim to the abuse..

26 EVENTS CALENDARLocal events to enjoy with family and friends this season.

27 SNEAK PEAKGet a sneak peak at two of Nashville’s up and coming event venues by MStreet Entertainment.

28 TAKE THE LEAP TODAYMeet your new team of real estate experts and let us help you today.

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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 modifi cations without notice. No guarantees are made to the accuracy of the articles or implied information.

ESTATEEXPERT

CALL ELIZABETH GATLIN TODAY! 615-429-3382

3

ESTATE EXPERT EDITORIAL

HI,Welcome to Estate Expert - A quarterly

report geared towards Nashville’s

leading commercial real estate decision

makers.

If you are like most business professionals this time of year you are probably over-whelmed 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 PRIORITYI often feel like I am rounding third base in the fall. Sprinting to-ward the year end hustle and bus-tle, 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 nec-essarily fi t 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 benefi t both you and your business.

REAL ESTATE GOAL AUDITINGIf you have one or a ton of ques-tions 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 diff erent 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 com-mercial real estate goals on track. for success today.

Elizabeth Jewell Gatlin - Vice President, BrokerageKeller Williams Realty - KW CommercialNashville Offi ce

CONTACT:

Email: [email protected] ce: 615-345-7217Website: ElizabethGatlin.com

4

LOCAL FLAIR ESTATE EXPERT

MAKEOVERIf 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 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 LIGHTING. Typical offi ce lighting can cause ter-rible eye strain if you spend

a lot of time at the computer. Switch to a table or fl oor

lamp for beter performance.

BETTER TEXTURES AND PATTERNS. Adding an area rug or decorative pillow to your space

can transform your sterile offi ce into a more homey and inviting atmosphere.

BETTER SEATING. If you have one of those typical large black offi ce chairs then your posture and back could be suff ering. Updating your seating will give you that lift you need.


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ESTATE EXPERT EXPERT AREA

CORRIDORSNashville Real Estate - 12 Major Corridors,

50 miles of Opportunity.

CORRIDOR CONNECTIONS

1. Woodland, Main and Gallatin

2. Hermitage and Lebanon

3. Lafeyette and Murfreesboro Pk.

4. 2nd, 4th and Nolensville

5. 8th and Franklin Pike

6. 12th Avenue South

7. Division and Demonbeun

8. Broadway and

21st9. Church and West

End10. Charlotte Avenue11. Jeff erson and

Rosa Parks12. 1st and

Dickerson

WHY NASHVILLE? Nashville real es-

tate is beautiful. It is historic and varied. Af-ter 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 un-derstand the oppor-tunities available to companies interested in metro real estate - just beyond the down-town core and still connected to it all.

EXPERT AREAEstate Expert focuses

soley on happenings in

the Metro Nashville area.

REDEVELOPMENT is one of the greatest real estate opportunties for growing cities such as Nashville. There are plenty of available parcels ready to be fi lled by valuable local businesses.

GO INFILL

3 MILE RADIUSWhat happens if you focus your real estate investments on one of the biggest boom cities in the nation? Real Estate portfolio success.

PHOTO BY:ED UTHMAN, HOUSTON, TEXAS, USA (OWN WORK) [CC-BY-3.0 (HTTP://

CREATIVECOMMONS.ORG/LICENSES/BY/3.0)], VIA WIKIMEDIA COMMONS


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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.

BELOWOne of the offi ce spaces on my client’s short list. Clean Class A space.

ESTATE EXPERT CASE STUDY

TEXTELIZABETH GATLIN

PHOTOSVARIOUS SOURCES

Recently I had the pleasure of working with Nashville’s newest App development gaming fi rm, Nedap Publishing, founded by Paden Pierry. While searching through some op-tions for his new team headquarters an interesting question came up;

“What type of space is really the best fi t for this business’s culture?” Is it open views, clean white walls, and glass in an offi ce 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

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location, one that will mirror the culture of the fi rm and surely enhance their game development performance.

HIDDEN INNOVATION IN DOWNTOWN NASHVILLE’S ICONIC CUSTOMS HOUSE

Paden was actually my fi rst client to show interest in the Cus-toms House located on Broadway, a listing I had been eyeing since it came on the market. He was also interested in some other offi ce 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 corpo-rate offi ce culture or a creative and collaorative culture? Being

a tech geek myself and remem-bering 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 com-puters, coff ee 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-

ABOVEThe fi ve locations chosen from a list of 70+ offi ces in the Downtown area.

RIGHTCarpet and paint choices made to

enhance the offi ce trusses and look.

ECONOMICS ESTATE EXPERT


9

panies with a fl air 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 game-scapes 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 fl oor 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 offi ce culture, Paden picked out a new color

scheme for the offi ce to transform the existing rooms from dark and dirty to open and airy: perfect for their group work sessions, computer programming, and gam-ing 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.

ESTATE EXPERT CASE STUDY

RIGHT3D modeling of a

gaiming app: Fastest Possible Adventure,

by Nedap Publishing.

You have been a beacon of encouragement through this whole process! Thanks again! - Paden Pierry, Owner

Nedap Publishing

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 fi nishing the objectives for the Quest Giver, defeating foes along the way.

FASTEST POSSIBLE ADVENTURE

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MARKET TRENDS ESTATE EXPERT

ON THE RISE2nd 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.

T he Nashville Offi ce market closed the quarter with negative 75,000 SF of absorp-tion, dropping the

year-to-date tally to just under 110,000 SF positive. Vacancy rates are increasing for the fi rst 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 com-pared 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. Over-all vacancy rates remain steady at the 5.6% mark, however Brent-wood experienced the biggest dip going from 4.6% last quarter to 4.15% this quarter. This is largely due to new tenants in the 1,200-4,000 SF range and very few vacancies coming on the market. Rutherford County had the larg-est 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 posi-tive absorption, knocking the year-to-date total to over 750k SF. Vacancy rates continue to decline for the fi fth consecutive quarter. The East and Southeast submarkets witnessed the most signifi cant 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.

NASHVILLE MARKET

XCELIGENT, INC.The compiled data to the left has been compiled from “2nd Q 2013 Market Trends” by Xceli-gent, Inc. All Rights reserved.

11

ESTATE EXPERT MARKET TRENDS

TEXTXCELIGENT, INC.

PHOTOGOOGLE MAPS

MARKETSECTOR

VACANCY

OFFICE

Overall vacancy rates in the Dowtown area have decreased from 17.3% in 2nd Quarter 2012 to 13.2% 2nd Quarter 2013.

RETAIL

Vacancy rates continue to decline in the Dowtown / West End markets from 7.06% in 2012 to 5.19% in 2013.

INDUSTRIAL

Overall vacancy rates have also dropped slightly in the Industrial Business District from 6.85% to 6.16% in 2013.


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LEASE RATES ESTATE EXPERT

LEASERATES

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!

13

RETAILRetail Rental Rates: Metro Nashville lease rates are closer to the top of the ranges shown.

OFFICEOffi ce Rental Rates: Metro Nashville lease rates are closer to the top of the ranges shown.

INDUSTRIALIndustrial Rental Rates: Metro Nash-ville lease rates are closer to the top of the ranges shown.

ESTATE EXPERT LEASE RATES

RETAIL LEASE

RATES

OFFICE LEASE

RATES

INDUSTRIAL

LEASE RATES


SALES

Drive Down BroadwayPhoto: Elizabeth Gatlin

RECENT

INTOWN

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SALES COMPS ESTATE EXPERT

1921 BROADWAY4,904 SF - WarehouseSOLD May 2013$950,000

307 29TH AVE N1,186 SF - Offi ceSOLD November 2012$525,000

1506 CHURCH ST13,360 SF - Commercial Offi ceSOLD June 2013$750,000

908 SHELBY AVE12,962 SF - ApartmentsSOLD June 2013$575,000

602 GALLATIN AVE61,866 SF - Commercial RetailSOLD August 2013$3,600,000

3 MCFERRIN AVE5,100 - FlexSOLD August 2013$550,000

600 JEFFERSON ST5,160 SF - Commercial Offi ceSOLD August 2013$1,100,000

3307 CHARLOTTE AVE8,632 SF - Offi ceSOLD June 2013$735,000

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ESTATE EXPERT SALES COMPS CALL ELIZABETH GATLIN TODAY! 615-429-3382

DEAL SPOTLIGHT ESTATE EXPERT

OFFICE / RETAIL SPACE FOR LEASE1,700 SF of Offi ce 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 offi ces, retail, restaurants and more.

• New fl oors 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.

503 FISK

17

ESTATE EXPERT DEAL SPOTLIGHT

LEASE RATE:

$13 - $16 / SF

NNN TOTAL AREA:

+/- 1,700 SF

DIVISIBLE TO:

FRONT +/- 1,100 SF

BACK +/- 600 SF


18

OFFICE Businesses all

over Nashville

have recently

been remodeling

to a new open-

concept seating

arrangement.

But is this

configuration

really the most

productive way to

work?

19

Even the State of Tennessee’s proposed offi ce remodel for the new Tennessee Tower location will have the stripped down mini-malist style. Find out how varying offi ce layouts can have profound eff ects on worker performance.

SHOULD YOU ASK YOUR EM-PLOYEES FOR INPUT?

Seating arrangements: every boss, manager and bride’s worst night-mare. 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

which ones are the best? How should you really start to handle the infamous offi ce layout?

Well fi rst 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 actu-ally PAYS off . Before you do any-thing (offi ce 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, connec-tivity and inner offi ce good will therefore also boosting produc-tivity. Karma goes a long way in this situation and you will notice a diff erence immediately.

When it comes to offi ce seating arrangements I have seen the good, the bad, and the dysfunc-tionally ugly. Here are some instances I have witnessed where employee performance was se-verely undermined by ineff ective and imposed seating arrange-ments:

An entire team’s productivity was sacrifi ced 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 amplifi ed phone conversa-tions.

• 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 em-ployee was placed with his back to the major circulation

space in the offi ce making him always nervous and on edge. The stress began to af-fect 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 offi ce layouts can cause undue stress. If you ask your employees how they can best perform their jobs when it comes to an offi ce layout then you will fi nd the best seating ar-rangement 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 seat-ing preferences in offi ce space and it has a lot to do with age and tenure. I had the pleasure during one offi ce 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

ABOVEJapanese Business Furniture by KOKUYO.

ESTATE EXPERT OOFFICEE LAAYYOUTS


PHOTOSVAIRED


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NEW NASHVILLE

OFFICE SPACENew office spaces are popping up

all over town and they aren’t your

typical run of the mill office towers.

CANNERY ROWThe Cannery Row

building is staying true to it’s nature with

the addition of new offi ce space for Nash-

ville’s Green Room recording studio.

BOW TRUSS BUILDINGThis exciting redev-lopment project sits in a Germantown historic industrial building and off er Class A offi ce space close to everything .

RAGLAND BUILDINGHome to Asurion’s new headquarters, this new offi ce space actually received dexsign awards from the Urban Land Institute.

THE SHEDS ON CHARLOTTEThis new adaptive reuse warehouse develop-ment will hold 42,750 sf of new offi ce and retail space.

21

ESTATE EXPERT OFFICE LAYOUTS

LEFTSketch by Greg Robinson Interiors diagraming offi ce space programming.

the exterior of the offi ce 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 confi guration. These comments can actually say a lot to an employer about their workforce’s current professional needs. My suggestion to management when develop-

ing their offi ce layout was to give the employees what they wanted by splitting the offi ce layout into a doughnut type confi guration; the outer ring facing the windows and the inner ring facing a centralized meeting area. I would have never been inclined to design the offi ce 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 offi ce space to accommodate the needs of multiple generations.

PRIVACY IN THE WORK-PLACE

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 Offi ce Distractions Without privacy both groups said they did not feel as productive during work hours. So do open offi ce concepts provide enough privacy to be eff ective? 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 offi ce 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 cur-rent offi ce space is not working to your benefi t but can’t put your fi nger on how to change it then contact me today. A quick informal session could be just the thing you need to start transforming your offi ce layout to better benefi t your employ-ees and your bottom line.

ABOVEState of Tennessee’s Offi ce Remodel T3 in the Tennessee Tower.View the Youtube video of before and after at ElizabethGatlin.com


The addition of multiple

apartment complexes will

mean change for Nashville,

bringing new consumers to

the market.

23

CORPORATE BULLYING - DARK SECRETS OF THE DEVELOPMENT WORLDNOTICE: 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 eff ects may be permanent:

When I think of bullying, I usu-ally 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 amaz-ingly 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 cor-porate world that makes me both angry and shocked.

LEASING TO WALMART, THE CORPORATE GIANT

It all started with some talks of Walmart, the corporate giant, one late afternoon… “Never Lease to Walmart!” Angrily grumbled a fel-low broker slamming down some paper. Puzzled I asked why?

Wouldn’t a solid company like

Walmart be an ideal tenant? – They have great credit, a large market share, tried and true busi-ness models…

The ugly truth is in the story he told me:

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.

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 law-yer’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 fi nd 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 lo-cations. If a certain area needs to recoup a loss, your monthly rent check is one of the fi rst 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 CORPORA-TIONS USE BULLYING TAC-TICS?

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 miff ed. As I came across other examples I became even more baffl ed. 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

LEFTForbes Magazine Cov-er September 2010 highlighting Walmart CEO, Mike Duke.

ESTATE EXPERT DEVELOPERS CORNER


PHOTOSVARIED ADAPTED MEDIA.


24

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 go-ing there, so and so bought this property, etc…” You know, Broker gossip. Anyway he mentioned how Starbucks was recently work-ing on a deal where they would

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 traffi c to a crawl making it diffi cult 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 “hip-sters”. I said, slightly off ended: “Woah, hipsters usually don’t trust large scale corporate busi-nesses. They prefer local owners even if the large companies pro-vide coff ee (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 associa-tion 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 fi ght 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:

ABOVECorporate logos of some of the worlds giants.

DEVELOPERS CORNER ESTATE EXPERT

25

“We are a publicly traded com-pany. You can check our fi nancials online.”

This tells the Landlord noth-ing about a company’s current fi nancial standing when it comes to paying rent. Asking for refer-ences from previous Landlords would be a great alternative to simply looking at online sources of fi nancial standing. If you have ever played the stock market, you know how drastically these “fi nancials” can change. Ask for another source of fi nancial information and make sure the numbers make sense.

“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 constitu-ents. 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 dot-ting your is and crossing your ts before you make a deal.

“We need for our lawyers, board of directors, international VP, a sec-ond Broker and fi ve other people to review this before we can get the okay.”

Wait a second, so who is in charge here? Smoke and mirrors usu-ally means you are about to get punched in the face, seemingly out of nowhere. If a company is utilizing multiple angles to work

a deal beyond the norm then they are more likely to be unruly because no one is held account-able. Understanding the chain of command and having only one or two points of contact will be benefi cial to your success. If any-thing happens down the line you will be better able to get issues resolved and side step this type of corporate run around.

The best way to handle corpo-rate 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

negotiations is critical to protect-ing 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..

ESTATE EXPERT DEVELOPERS CORNER

BELOWProposed Starbucks

for East Nashville

Wouldn’t a company like Walmart be an ideal tenant? - Great credit, large market share, tried and true business models....


26

SEGWAY OF NASH-VILLE

I recently had the pleasure of touring downtown Nashville on a Segway. (One of the coolest things I have done all year!)

If you have never tak-en a ride on a Segway then do it today. I felt like one of the Jetsons fl oationg 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!

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 fi rst of it’s kind to open any-where in Tennessee.

Learn more about the tanks themselves or simply go get a mas-sage.

Schedule an appoint-ment today at: Nash-villeFloatandMassage.com.

LA PETITE MORT IV

SEGWAY

Looking to see Nashville

from a new perspective?

Come on a Segway Tour!

OCTOBER 26, DUSK TILL DAWNGet ready for our fourth annual Hal-loween 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 Gat-lin for all the details.

EVENTS CALENDAR ESTATE EXPERT

FLOAT & MASSAGE

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ESTATE EXPERT MAARKKETING

Two hot new event spaces are open-ing next to Virago in Downtown Nashville and I was lucky

enough to get a private sneak peak with CCIM of Middle Tennes-see. See what MStreet Entertain-ment 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 graffi ti 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 technolo-gies 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 charac-teristics 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

natural light. The natural brick and exposed structure further makes the space feel like a hid-den loft within the bustling Gulch Industrial Redevelopment

NASHVILLE IS FINALLY GETTING A LEGITIMATE TEQUILA BAR: SAINT ANEJO CANTINA 120.

We were told this new res-taurant and event space will be serving over 100+ diff erent types of tequila. You know Nashville is getting big when we have a restaurant dedicated to this feisty drink.

MSTREET ENTER-TAINMENT GROUPBoth pictures are taken from our tour of the two venues.

A SNEAK PEAK An insider’s look at two of Nashville’s

newest entertainment venues.


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REAL ESTATE TEAM ESTATE EXPERT

KW 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 (offi ces) 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.

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Keller Williams Realty -

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MEET

ESTATE EXPERT

YOUR

29

ESTATE EXPERT ABOUT

MORE ABOUT ELIZABETHElizabeth 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 Ten-nessee, Knoxville. Elizabeth has been involved with both public and private initia-tives 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, Mid-town, 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

benefi ts from their owned or leased real estate portfolio.• Development and market studies for investors seeking to enhance their portfo-

lios.• 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 State Farm Jimmy Johns Mundo Tax BNA Technology Cardinal Health Panache’ After Dark Nashville Float and Massage Pad Thai Kitchen Design & Engineering Inc. Tennessee Awnings Nashville Improv Company Utopia Renovations Nedap Industries Nissan RGH Enterprises

ELIZABETH GATLIN

Contact Elizabeth Today!

[email protected]

Keller Williams Realty30 Burton HIlls Blvd., Suite 400Nashville, TN 37215615-425-3600

I just want you to know that Elizabeth Gaitlin was perfect! One of the hardest working and dedi-cated agents! She has gone so far above and beyond for us. What a great person to have on your team! - Nashville Float and Massage


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this publication, please contact Elizabeth directly at [email protected]. To see all of Elizabeth’s real estate listings and to learn more about services visit ElizabethGatlin.com

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