Innovation Park
A 120,000 square foot Class-A redevelopment located in Nashville, TN.
Deal Highlights
Status
Active
Building Area
120,000 SF
Location
Nashville, TN
Property Type
Class A Office
Investment Summary
OakPoint purchased Innovation Park in January of 2016 from the original developer who was under financial distress. The asset was developed specifically to cater to unique needs of life science, biotechnology and other high technology firms by having state of the art systems for redundant power, HVAC, IT systems, chemical waste handling, and much more. However, the developer ran out of funds and was unable to execute the full development plan. At the time of OakPoint’s acquisition, Innovation Park was 56% leased with much of the unleased space in shell condition, the parking lot was unpaved, and common areas were unfinished. OakPoint embarked on a multi-million dollar redevelopment and rebranding effort including building out common areas, parking and landscaping, and providing a robust tenant improvement budget for unfinished space. Today, the property is 86% leased and is home to biotech, medical office, office, and tech companies. Innovation Park offers a convenient location and Class A amenities in a campus like setting that allows easy mix of various uses.
Key Contact
Rick Frazier
rfrazier@oakpointre.com
615-324-0787
Property Location
393 Nichol Mill Lane
Franklin, TN 37067