The Tennessean

June 6, 2018

Brentwood is getting its own farmers market.

The Brentwood Farmer’s Market is kicking off its first season on Thursday at the CityPark mixed use community at 278 Franklin Road.

The market will be open every Thursday from 4 to 7 p.m. through August 30.

CityPark is located at the intersection of Franklin Road and Executive Center Drive. The market will be held on the green space in front of Mooreland Mansion.

It will be a “producer only” market, meaning all items sold must be grown or made by the merchant.

But there are a few exceptions: The Peach Truck, which sells Georgia-grown peaches and pecans, and Virgin Bay Seafood, which sells wild-caught Alaskan seafood, said Kristin Cales, marketing director for Boyle Investment Company.

The owners of both those businesses are Williamson County natives, Cales said.

Boyle is sponsoring the market. It will be managed by Kasi Haire, who also runs the Berry Farms and Nolensville farmer’s markets.

Farm merchants include:

• Conway Farms (lamb, sheep cheese)
• Magpie Farm (produce grown at Heritage Preservation Farm in Franklin)
• Running Hog Farm (pork)
• Spring Oak Farms (produce from upper Cumberland area)
• Wooded Hills Homestead (chicken, free range eggs)
• The Peach Truck (GA Peaches, pecans)
• Virgin Bay Seafood (wild-caught Alaskan seafood)

Other merchants include:

• And 3 Foods (healthy prepared meals)
• The Cake Project (cheesecakes)
• Fireflour Bakery (handmade bread, baguettes)
• Galena Garlic (seasoning blends, olive oils, balsamic)
• Knot Us Pretzels (homemade pretzels)
• Lokale Juice (bottled juice blends)
• Padrino’s Pops (popsicles)
• Southern Jerky Co (jerky, chicken and beef)

Artisans include:

• Carol’s Vibrations (soap, lotions, etc.)
• Laurel Nash Jewelry (handmade jewelry)
• Natures Wonder Soap Shop (handmade, goat-milk soap and more)
• WhiteHouse Creations (hand painted signs)
• For vendor applications, email farmersmarketbrentwood@gmail.com.

Reach Elaina Sauber at esauber@tennessean.com, 615-571-1172 or follow @ElainaSauber on Twitter.

Brentwood Home Page

June 5, 2018

The Brentwood Farmer’s Market will kick off its inaugural seasonal farmers market on Thursday, June 7, in CityPark Brentwood, according to Boyle Investment Company, owner and operator of CityPark.

Kasi Haire, who runs the Berry Farms and Nolensville Farmer’s Markets, will manage the Brentwood Farmer’s Market.

The Brentwood Farmer’s Market will operate every Thursday from 4 p.m. until 7 p.m., June 7 through August 30. CityPark Brentwood is located at the intersection Franklin Road and Executive Center Drive, and the Brentwood Farmer’s Market will be located in the green space in front of the Mooreland Mansion.

The Brentwood Farmers Market is a “producer only” market, meaning all goods sold must be grown, baked or made by the merchant. Most merchants are local to Middle Tennessee.

A range of local produce, meats, milk, and eggs will be available. Farm merchants are:

• Conway Farms (lamb, sheep cheese)
• Magpie Farm (produce grown at Heritage Preservation Farm in Franklin)
• Running Hog Farm (pork)
• Spring Oak Farms (produce from upper Cumberland area)
• Wooded Hills Homestead (chicken, free range eggs)
• The Peach Truck (Georgia peaches, pecans)
• Virgin Bay Seafood (wild-caught Alaskan seafood)

Other merchants include:

• And 3 Foods (healthy prepared meals)
• The Cake Project (delicious cheesecakes)
• Fireflour Bakery (handmade bread, baguettes)
• Galena Garlic (seasoning blends, olive oils, balsamic)
• Knot Us Pretzels (homemade pretzels)
• Lokale Juice (yummy juice blends, bottled and ready to take home)
• Padrino’s Pops (popsicles)
• Southern Jerky Co (jerky, chicken and beef)

Artisans are:

• Carol’s Vibrations (soap, lotions, etc.)
• Laurel Nash Jewelry (handmade jewelry)
• Natures Wonder Soap Shop (handmade, goat-milk soap and more)
• WhiteHouse Creations (hand painted signs)

Boyle is sponsoring the weekly, seasonal farmers market on property as a way to provide the community with convenient access to high quality, locally produced goods in a relaxed, friendly and fun environment.

For vendor applications, please email farmersmarketbrentwood@gmail.com.

The 33-acre CityPark is comprised of 500,000 square feet of office space, 40,000 square feet of retail and restaurant amenities, and a 126-room Hilton Garden Inn hotel.

Boyle Investment Company develops sustainable mixed-use commercial and residential communities. Boyle provides on-site leasing, management, and development services at CityPark Brentwood. www.boyle.com

Brentwood Home Page

June 5, 2018

How does one get started running a farmer’s market, anyway?

For Daniel and Kasi Haire, it was upon the suggestion of his chiropractor.

“You have a chiropractor who wants to have a place where he can send his patients to get good quality, all-natural, organic food, without having to send them to Whole Foods,” Daniel said of Dr. Miro Bandalo in Nolensville. “He’s trying to get them to improve their health, and one of the ways is to improve their diet.”

Daniel, an engineer with Nissan, worked with the city of Nolensville to write an ordinance to allow for a farmer’s market. The market then opened in the summer of 2014.

The couple still manages the Nolensville market, and Daniel is the board president of the Nolensville Farmer’s Market, a 501(c)(3) organization.

In August of 2016, the marketing director for developer Boyle reached out to the Haires about running the community’s market, which opened in 2015.

Now, the couple is planning to work with a team to create another nonprofit to manage the Berry Farms market, as well as the Brentwood Farmer’s Market, as it kicks off its inaugural season this Thursday at CityPark.

Finding vendors was easy: “The farmer’s market community in Tennessee is a really tight-knit community,” Daniel said. “We work really well together, and we grow and feed off of each other.”

At Tuesday’s market, live music flowed in the breeze, as parents shopped while children ran around the grassy expanse.

Everyone in the market, Daniel said, is “market family.” He enjoys placing vendors near others who they might learn from.

They both helping new businesses prosper, too.

The proprietor of E&B Coffee, a vendor at the Nolensville market, was working for Ramsey Solutions when he began his business. Now, Daniel said, E&B has expanded to Herban Market, and is preparing to open a shop in Nolensville this summer.

“We try to put people together to make them better, and to make the market grow, he said.

Berry Farms Farmer’s Market: Tuesdays from 4 p.m. to 7 p.m. Located in the Berry Farms Town Center at the intersection of Lewisburg Pike and Goose Creek Bypass.

Brentwood Farmer’s Market: Thursdays from 4 p.m. to 7 p.m. Located at CityPark, at the intersection Franklin Road and Executive Center Drive, in the green space in front of the Mooreland Mansion.

Nolensville Farmer’s Market: Saturdays from 8 a.m. to noon. Located at 7248 Nolensville Road, between the Sonic and Nolensville Recreation Center at the intersection of Nolensville Road and Sunset Road.

A cohesive yet flexible master plan sets the stage for this Nashville mixed-use development, which is now underway on a brownfield site.

From a 32-acre brownfield in a virtual wasteland once known as “Hell’s Half Acre” there now rises a $750 million walkable urban district stitching together its surroundings into a new modern neighborhood destination. Capitol View represents a dense, mixed-use development rising from an underutilized section of land adjacent to Nashville’s booming downtown area, known as the North Gulch. The site sat mostly vacant, save for a smattering of one-story light industrial and other vacant buildings, prior to the inception of this project.

“In the late 1800s, this area was known as ‘Hell’s Half Acre,’ home to new European immigrants and saloons. From there, it was home to various businesses and residences, including an ice house, a service station, a car dealership and Greyhound bus station. We have uncovered cobblestone roadbeds and outdated trolley tracks during our site work. We also discovered abandoned sewer lines dating to pre-civil war Nashville,” says Austin Webb, project manager, Hoar Construction, which is building Blocks D and E.

Northwestern Mutual Real Estate crafted the original vision for redeveloping this mostly vacant site, in the shadow of the Tennessee State Capitol, into a thriving, vibrant and dynamic mixed-use community. The firm gradually built up its holdings in Capitol View, acquiring 32 acres from two dozen different entities over a six-year period before bringing in the Nashville office of Boyle Investment Co. to develop the site.

With Boyle as the master developer, several different corporate owners, multiple design firms and more than 60 subcontractors are working on the project. When completed, Capitol View will consist of 1.1 million square feet of office space, 130,000 square feet of retail and restaurant space, 650 multifamily residences, more than 200 hotel rooms and a new urban park that will connect to Nashville’s Greenways trail system. The sheer size and scope of the Capitol View project required a complex master planning effort.

To successfully deliver Boyle’s mixed-use vision, the master plan needed to be flexible yet cohesive. Jeff Haynes, a principal in Boyle’s Nashville office, enlisted Cooper Carry to help Boyle realize its goal of revitalizing this part of the city. At the outset of the project, Boyle sold 10 of the 32 acres to HCA Healthcare, Nashville’s second-largest employer, which recognized the value of locating three of its subsidiary companies in a walkable urban environment. Boyle also attracted another local company, LifeWay Christian Resources, to anchor the north end of the project with its new headquarters office building on an approximately 2.7-acre block.

The Planning Process

Boyle Investment Co. tasked Cooper Carry’s Center for Urban Design with navigating the various needs of multiple property owners, developers and designers while creating a unified master plan. At the onset of the project, Cooper Carry took Capitol View’s developers, corporate owners and designers to the Washington, D.C., region to investigate lessons learned at similar types of projects. The group toured National Harbor, Bethesda Row, Rockville Town Center, Mosaic, CityVista, City Center DC, Constitution Square, The Yards and other developments. They discussed how these projects incorporated elements such as ground-floor retail space, street design, architectural continuity and public space programming.

That initial trip allowed the group to share a common experience, and helped everyone visualize potential opportunities and pitfalls to consider during the master planning process. It also provided an opportunity for Cooper Carry to sharpen its understanding of its partners’ objectives and goals, which has been invaluable throughout the project.

As the master plan evolved, the urban design team crafted design guidelines through a consensus-building process regarding a wide range of project goals and elements, including activating street edges, streetscape design continuity, building massing, pedestrian and vehicular access, and districtwide wayfinding. These efforts set the stage for a master plan that provides flexibility for each corporate user inside a cohesive urban district with an activated public realm.

The master plan embraces the gritty, rugged nature of the site, connecting it to adjacent repurposed brick warehouses and embracing its proximity to elevated freight rail lines. It aims to create an energized Main Street activated by shops and restaurants. This rebuilt portion of 11th Avenue north of Charlotte Avenue is only one block from the extension of Nashville’s Gulch Greenway trail, which links various parks and historic neighborhoods.

The master plan also incorporates a new 2.5-acre urban park that Boyle will develop over a sewer easement between two elevated CSX rail lines at the northeastern edge of the site. The park will be a central part of the project’s bike and pedestrian network. A series of once-forgotten tunnels running underneath the CSX lines will connect the park to the rest of Capitol View. Boyle is working with the city of Nashville to complete the park in 2018.

One of these tunnel connections aligns with Nelson Merry Street, which is the designated “festival street” that runs through the heart of Capitol View. Nelson Merry can be closed to vehicular traffic for festivals, concerts and other pedestrian-oriented events that will extend into the park from the rest of the development.

Development Begins

The final master plan encompasses six blocks (A-F) and the aforementioned urban park, as well as a seventh block that will be developed by others.

Block A. The first block to be delivered includes the 430,000-square-foot, 17-story HCA Tower, which opened in October 2016 and serves as the corporate headquarters for Sarah Cannon Research Institute, Parallon Business Solutions and HealthTrust, all subsidiary companies of HCA Healthcare. The building also includes 84,000 square feet of shared dining and conference space and more than 26,000 square feet of ground-floor retail space. This building has helped establish an aesthetic benchmark for Capitol View.

“As we began our search for office space for HCA subsidiaries Sarah Cannon and Parallon, we were drawn to the Capitol View site because of the location,” says Nick Paul, vice president of real estate for HCA Healthcare. “After conversations with Boyle and Northwestern Mutual, we knew we had found the right site and the right development partners because we share a common vision for Capitol View.”

Boyle’s early conversations with HCA executives centered on design models that would maximize activity on the street through an abundance of ground-floor options, from convenient lunch destinations and upscale dinner venues to creative office space, vibrant hotel lobbies and restaurants, plus patio spots featuring cocktails and live music.

The urban design team emphasized the importance of creating a flexible market-based retail strategy focusing active uses on 11th Avenue and Nelson Merry Street. The ownership team of Nashville’s popular M.L. Rose Craft Beer and Burgers cited the energy and unique magnetic draw of Capitol View in their decision to open a new location at the HCA Tower in fall 2017. The 2,000-plus HCA employees in Block A have helped kick-start an 18- to 24-hour environment at Capitol View.

Block C. After purchasing this block, Christian publisher LifeWay Christian Resources retained Boyle to develop a nine-story, 250,000-square-foot office building to house more than 1,000 workers. The building, which delivered in November 2017, features additional ground-floor retail space including a bookstore.

“The location advantage has been very beneficial for our business,” says Amy Thompson, director of corporate relations at LifeWay. “Capitol View is a place people want to come to, and has allowed us to attract and retain top talent from across metro Nashville.”

“We are fortunate to have two iconic Nashville corporations choose Capitol View for their long-term business headquarters,” adds Henry Lange, regional director for Northwestern Mutual Real Estate in Atlanta. “It’s a unique opportunity to create something that will be a special place for Nashville well into the future.”

Block D. This $115 million mixed-use complex, set directly across from the HCA Tower, will be completed in fall 2018. It will feature 378 luxury apartments, many with views of the state capitol, as well as amenities that include a recording studio, a wine room and a golf simulator. The apartments will be set atop 60,000 square feet of ground-floor retail space along 11th Avenue, 40,000 square feet of second-floor loft-style offices and a 1,000-space parking garage.

The retail and office spaces will line a three-level parking deck embedded within the block, with four levels of wood-framed apartments set above the podium level of the deck. The vertically integrated blueprint for this block will also eventually accommodate a 26,000-square-foot grocery store, an important amenity for both Capitol View residents and commuters coming from downtown Nashville.

The Future

The master plan also calls for a 10-story office tower, to be developed by Boyle on Block E, that will become the new corporate headquarters for Nashville-based health care information technology company HealthStream. Block E is scheduled to deliver in spring 2019, with 24,000 square feet of ground-floor retail space and a 1,200-space garage, along with a 169-room Hampton Inn & Suites housed in a separate building that will wrap around the garage.

Construction has not yet begun on Block B, owned by HCA Healthcare, which lies between the HCA Tower on Block A and the LifeWay headquarters on Block C. The plan for this block includes a parking garage and future office expansion opportunities for HCA. Block F, which sits to the north of Capitol View’s urban park, will contain approximately 200 additional residential units.

A seventh block, located north of Block E and east of the LifeWay building, is being developed by Terwilliger Pappas. Now under construction, Solis North Gulch will contain 271 residential units and is expected to be completed in spring 2018.

Lessons Learned

Capitol View offers valuable lessons on creating mixed-use destinations that suit the requirements of each use within vertically stacked structures. HCA, for example, required conference space in its tower on Block A. Designers set the conference facilities above ground-floor retail space along 11th Avenue to add vertical massing along the street while reserving the street level for more active uses.

Block D also accommodates ground-floor retail space on 11th Avenue, with single-loaded creative office space set between the retail space and the residential levels above. Carefully accommodating shared vertical circulation while meeting the egress requirements of multiple users with the least amount of impact on the leasable retail area was a key challenge in both Blocks A and D. The master plan identified key locations, such as the intersection of 11th Avenue and Nelson Merry Street, for more active uses and located complementary uses, like office and residential, to take advantage of shared vertical circulation and shared parking arrangements.

Locating shared service areas between uses minimized their footprints and enabled planners to capitalize on the advantages of integrated uses. This approach frees up more leasable area and provides more flexibility in the creation of a meaningful, activated public realm that can be enjoyed by a wide range of residents, office workers and visitors, both on a day-to-day basis and during special events.

Connectivity is one of Capitol View’s strongest selling points. The project forms a new gateway into downtown Nashville via Charlotte Avenue, and its strategic location offers immediate access to surrounding communities, including The Gulch, Vanderbilt University, Germantown, New Salem and East Nashville. Residents and visitors can walk or bike from Capitol View to the Nashville Sounds’ new baseball stadium and other nearby downtown hotspots.

“We needed easy access for our employees, access to retail, access to restaurants and different ways for [employees] to get to work, including biking options for our millennials,” says Eddie Pearson, chief operating officer of HealthStream, regarding the company’s decision to relocate its corporate headquarters to Capitol View.

Boyle Development Co. is fulfilling a promise to city officials by extending the existing Greenways for Nashville trail along the eastern edge of the development. The Greenways trail extension will connect Capitol View to nearby Bicentennial Mall, along with more than 26 miles of biking, walking and running trails throughout greater Nashville. Capitol View also has multiple vehicular access points, including two interstate exits for commuters driving in from the suburbs.

The Response

Since the opening of Capitol View’s first phase in 2016, the community has embraced the project. City leaders continue to emphasize the vital role the development plays in the evolution of Nashville, one of the Sun Belt’s fastest-growing cities. Both the former and current mayor have noted that Capitol View delivers long overdue connectivity to the area and have welcomed the economic boom brought by Northwestern Mutual, whose vision and initial investment nearly a decade earlier made the dramatic transformation possible.

The project is also setting a new industry standard for the redevelopment of brownfield sites into thriving mixed-use communities, as cities across North America continue to seek ways to breathe new life into underutilized districts and accommodate the influx of people back to the urban core.

“What attracted us initially [to Nashville] was that it had good strong economic fundamentals,” says Northwestern Mutual’s Lange. “It’s not a boom-and-bust kind of market. In partnership with Boyle, we found we could achieve good, steady returns in comfortable, bite-sized pieces. … Probably just as important is the fact that there is a very strong functional government that is very pro-business. We invest in a lot of markets, and we don’t see that everywhere. When you’re here, you take that element for granted.”

Capitol View was named NAIOP Nashville’s 2017 Development of the Year.

Originally Published in the NAIOP Development Magazine

By: Kyle Reis, Cooper Carry

Memphis Daily News

March 25, 2018

Boyle Investment Co. celebrated its 85th anniversary with a luncheon on Friday, March 23, for its 113 employees on the top floor of its new Class A office building at 949 S. Shady Grove Road.

That new office building also marks the complete build-out of the Ridgeway Center, a 204-acre mixed-use development launched in the early 1970s in East Memphis.

Boyle is one of Memphis’ oldest real estate development, sales, leasing and management firms.

The two largest mixed-use developments of Boyle’s are Ridgeway Center and Schilling Farms, which as been under development in Collierville for 20 years as of 2018.

The 443-acre Schilling Farms community features newly completed projects such as a 50,000-square-foot ‘Class A’ office building, the second phase of The Carrington multifamily project, and a 9,000-square-foot retail center. Schilling Farms has become a popular site for corporate headquarters in recent years – it is home to Helena Chemical Corp. and Mueller Industries Inc. is constructing its new corporate headquarters there.

Boyle made its first foray outside the Memphis market in 2001, opening an office in Nashville, where it has grown from two employees to 30. Boyle Nashville LLC and their joint venture partners have acquired, developed and manage more than 3.2 million square feet of commercial space, and have more than 532,000 square feet of commercial space under construction.

Since its founding in 1933, Boyle remains family owned with the third generation now involved in management. The company is led by Henry Morgan, co-chairman, and Paul Boyle, president. Other family members include Bayard Boyle Jr., co-chairman, and executive vice presidents Henry Morgan Jr. and Bayard Morgan.

Boyle also has 31 employees who have been with the company for more than 20 years, including Mark Halperin (45 years), Joel Fulmer (46 years) and Russell E. Bloodworth Jr. (49 years).

The Commercial Appeal

March 24, 2018

The late Bayard Boyle Sr. would often make a deal with his young grandsons on weekends in the 1970s:  If they would accompany him on his drives to the rural outskirts of Memphis to look over some property, he’d let them sit in his lap, hold the steering wheel and pretend to drive.

“My memories were if we weren’t playing golf with him we were driving around looking at property on weekends or in the afternoons,” recalled Bayard Morgan, now executive vice president of Boyle Investment Company. It’s the same firm the grandfather founded in 1933 with his two brothers.

That kind of passion for land and development has carried the firm to its 85th anniversary. Boyle Investment Company celebrated the feat on Friday by hosting its 113 employees for a luncheon on the top floor of its newest office building, called 949 Shady Grove.

45-year build-out

The venue was fitting considering that last fall’s completion of the 150,000-square-foot building, anchored by Pinnacle Financial Partners, also marked completion of the 45-year build-out of Ridgeway Center.

The multi-use development has been Boyle’s signature business park for the Memphis area. Ridgeway Center hosts more than 150 businesses, including the regional headquarters for Suntrust, Pinnacle Financial, and Kroger, the cylindrical Hilton Hotel, a Malco theater, Benihana restaurant and many others.

The 18-hole Ridgeway Country Club once occupied what is now the northeast quadrant of a high-powered intersection:  I-240 and Poplar. Boyle Investment Company recognized the potential and aggressively pursued buying the 154 acres from the club, recalled Henry Morgan Sr., co-chairman and Bayard Morgan’s father.

 “It was controversial. Some didn’t want to move. They had a clubhouse falling down. Club members subsequently sold and went” further east, Henry Morgan said.

Powerful intersection

It now seems as if Boyle struck gold where the interstate loop would cross Shelby County’s most prominent road. “Everybody recognized Poplar,” Henry Morgan said. “It was the high ridge in Memphis. All the way from the river, the highest ridge that deer and Indians followed, and the railroad. It’s always been the center of growth.”

The company’s founder, Bayard Boyle Sr.,  “had a remarkable ability to identify and acquire properties in areas that would soon become major growth corridors,” firm president Paul Boyle said of his grandfather in a prepared statement. “Today, we still stick to these same principles of careful research and planning, whether it’s a residential subdivision, a shopping center, or an office building that we are developing.”

First PUD

The company did something else forward-thinking in establishing Ridgeway Center. Boyle made Ridgeway Center the city’s first planned unit development (PUD), executive vice president and chief operating officer Mark Halperin said. The new approach gave the firm more flexibility in how it developed the property.

“It was a progressive way to look at a big-size piece of property,” Henry Morgan said of the site that would grow to 204 acres. “… We had the ability to react to the market cycle.”

Boyle endured some difficult periods, like the time the firm left itself vulnerable by preparing space for a large tenant that left a short time after moving in. “That was a terrible mistake,” Henry Morgan said. “Fortunately, we didn’t do that too often.”

Asked for a highlight, he did not have to think long.

Musical chairs

“Right now it’s great becasue of what Mark (Halperin) has done flipping all these tenants around,” Henry Morgan said.

He referred to the musical chairs that started when ServiceMaster announced in June 2016 it would move its headquarters from Ridgeway Center to Downtown Memphis.

What appeared to be a setback for Boyle turned into a positive. Thomas & Betts Corp. decided it would fill the space vacated by ServiceMaster by moving out of its Boyle building at Southwind.

But Boyle’s Southwind building will be filled again because Sedgwick Claims Management will consolidate its offices there.

“It’s a historic time for us,” Henry Morgan said. “Just remarkable… We could have lost all of it if we didn’t have a good product in a good market and with good people.”

Long-term tenants

Boyle has sold off some of its Ridgeway Center property, but still owns about 60 percent of the development.

Some Ridgeway Center tenants have remained in place over 40 years. “In this business if you turn over space too much you end up spending all your nickels on refurbishing,” Henry Morgan said. “What you like is somebody you can keep for awhile.”

This year is also the 20th anniversary of Boyle’s 443-acre Schilling Farms mixed-use community in Collierville. The most recently completed projects there include a 50,000-square-foot office building, second phase of The Carrington apartments, and a 9,000-square-foot retail center.

Boyle Nashville

Boyle Investment opened an office in Nashville in 2001, and by 2005 Boyle’s work in Nashville had grown bigger than its Memphis projects. Boyle Nashville, with joint venture partners, have acquired, developed and managed more than 3.2 million square feet of commercial space, with another 532,000 square feet being built.

“We went over there thinking it was a good expansion for us never realizing, to be honest, how good it would be,” Henry Morgan said. The firm’s Nashville office now has 30 employees.

“Memphis has shallower peaks and valleys than Nashville,” Paul Boyle said. Nashville is “a boom-bust town. (Memphis) is kind of sleepy and easy going. But things are just going crazy up there.”

In Memphis, Ridgeway Center’s land may be filled with buildings but the work there is not completed. Now, Boyle now plans to do some targeted demolition and redevelopment, Halperin said.

The team

Other family members and owners who are leading the firm are Bayard Boyle Jr., co-chairman, and  executive vice president Henry Morgan Jr.

The firm counts 31 employees who have worked for the company more than 20 years.

In addition to Halperin, who has worked for Boyle 45 years, other 40-year-plus employees are Joel Fulmer, 46 years, and Russell E. Bloodworth Jr., 49 years.

MEMPHIS, Tenn., March 23, 2018 – This year marks the 85^th anniversary of Boyle Investment Company, one of Memphis’ oldest real estate development, sales, leasing and management firms.  To celebrate, the company is hosting a luncheon on March 23 for its 113 employees on the top floor of its new ‘Class A’ office building at 949 S. Shady Grove.

The 85th anniversary marks the achievement of significant milestones at two of Boyle’s largest projects in the Memphis region: Ridgeway Center and Schilling Farms.  In the fourth quarter of 2017, Boyle celebrated the grand opening of 949 Shady Grove, a new ‘Class A’ office building on the last remaining site in Ridgeway Center office park, marking final completion of the 204-acre mixed-use development launched in the early 1970s in East Memphis.  Also, this year marks the 20^th anniversary of Boyle’s 443-acre Schilling Farms community in Collierville, where newly completed projects include a 50,000-square-foot ‘Class A’ office building, the second phase of The Carrington multi-family project, and a 9,000-square-foot retail center.

Boyle also celebrates significant milestones in the Nashville region, where in 2001 the company opened an office which has grown from two employees to 30 employees today. Under the direction of Phil Fawcett and Jeff Haynes, Boyle Nashville, LLC and their joint venture partners have acquired, developed and manage more than 3.2 million square feet of commercial space, and have more than 532,000 square feet of commercial space under construction.  Large-scale projects in Nashville include Capitol View, which will offer 1.1 million square feet of ‘Class A’ office space, 130,000 square feet of specialty retail/restaurant space, 378 luxury apartments, a Hampton Inn & Suites, a 2.5 acre urban activity park, and a jogging/biking trail connected to Nashville’s greenway system.  The last two years have brought explosive growth at Berry Farms in Franklin, with four major headquarters announcements at the 600-acre mixed-use project, which also includes a town center and a variety of residential communities.  Construction is underway on McEwen Northside, a 45-acre development in Cool Springs that offers fully integrated office, retail, residential and green spaces.  Boyle’s Nashville office is located at the company’s own 60-acre Meridian Cool Springs development, which offers more than 900,000 square feet of office and 90,000 square feet of retail space.

Since its founding in 1933, Boyle remains family owned with the third generation now involved in management. The company is led by Henry Morgan, Co-Chairman, and Paul Boyle, President. Other family members include Bayard Boyle, Jr., Co-Chairman, and Executive Vice Presidents Henry Morgan, Jr. and Bayard Morgan.

One of the company’s greatest assets is its “deep bench” of experts – longtime employees who have stayed with the company for years. Boyle has 31 employees who have been with the company for more than 20 years.  Their expertise and long-term involvement with the company have been a great plus.  Three non-family members have been with the company for more than 40 years:  Mark Halperin, 45 years; Joel Fulmer, 46 years; and Russell E. Bloodworth, Jr., 49 years.

Over the years, Boyle has made a profound impact on the city of Memphis.  A Boyle family ancestor, John Overton, founded Memphis in 1819 in partnership with Andrew Jackson.  In the early 1900s, Edward Boyle developed stately Belvedere Boulevard in Midtown.   Boyle Investment Company was founded in 1933 by three of Edward Boyle’s sons – Snowden, Charles and J. Bayard, Sr.   The 1960s saw the development of River Oaks and Farmington. In the 1970s, Boyle paved the way for the city’s growth eastward with one of Memphis’ first office parks, Ridgeway Center, which today offers more than 2 million square feet of space.  In the 1980s, Boyle began development of Humphreys Center, which has become East Memphis’ bustling medical/office center.  The 1990s saw the development of even more ambitious projects such as the 443-acre Schilling Farms community in Collierville.  The company also developed numerous retail centers in the Memphis area during this period, including Regalia, Shops of Humphreys Center, Shops of Forest Hill, and Gallina Centro, as well as Preston Shepard Place and Southwest Crossing in Texas.   Boyle Nashville, LLC was formed in 2001 and has grown to be the largest developer in the region.  Boyle Insurance Agency, headed by Cindi Gresham, continues to thrive and offers both commercial and personal lines of insurance.

“Our grandfather, Bayard Boyle, Sr., and his two brothers initially focused their efforts on buying land and developing residential subdivisions and shopping centers,” says Paul Boyle, President. “He had a remarkable ability to identify and acquire properties in areas that would soon become major growth corridors.  Today, we still stick to these same principals of careful research and planning, whether it’s a residential subdivision, a shopping center, or an office building that we are developing.”

While the company focuses a great amount of resources in the office and retail sectors of the commercial real estate market, the company also is known for its high-end residential communities including River Oaks, The Cloisters, Chartwell, Green Shadows, Blue Heron, the Gardens of Southwind, Golfwalk at Southwind, Riveredge, Bedford Plantation, and Spring Creek Ranch just to name a few.  Boyle is currently active in the Germantown market with development of The Pinnacle of Germantown and Allelon, and is moving forward with additional phases at Spring Creek Ranch in the Collierville Reserve and Twin Lakes of Piperton.

“We’ve built a strong company because the family, from the beginning, has been committed to developing for long-term value,” says Henry Morgan, Co-Chairman.  “We operate on the belief that properties are long-term investments that should be carefully planned, built, and maintained.  With all of our activity in Memphis and Nashville, we think the future looks mighty bright.”

 

 

 

One of Greater Nashville’s largest hotel developers plans to start construction this summer on a hotel that will be part of a $270 million mixed-use development in Franklin’s Cool Springs commercial hub.

Franklin-based Chartwell Hospitality will own and operate a 150-room SpringHill Suites, which is a flag of Marriott International Inc. (Nasdaq: MAR). The project accounts for all of the hotel rooms planned as part of the Northside McEwen development, which is also set to contain about 750,000 square feet of office space, about 100,000 square feet of retail and restaurant space, and 580 residential units. As seen on our Williamson Watch map, the Northside McEwen development is one of the biggest projects happening in what is the fastest-growing county in Tennessee — a county that led the nation in job growth during the bulk of 2015 and 2016.

The SpringHill Suites is part of a flurry of hotel activity in Franklin. The city approved permits for five hotels last year totaling almost 700 rooms, almost six times the rooms approved in 2016. Chartwell, one of the longest-tenured hotel developers in the region, is also going through a growth spurt of its own. The company owns and operates eight area hotels and is under construction on four more: one in downtown Nashville, two in Green Hills and a full-service Hilton in Franklin.

Once the SpringHill Suites is open, Chartwell will officially own more than 2,000 hotel rooms in the region — nearly double its existing portfolio. Chartwell owns properties in 12 states and has about 1,400 employees.

Franklin Synergy Bank (NYSE: FSB) is providing a construction loan, said Rob Schaedle, managing partner of Chartwell. The company has hired McMurry Construction Co. Inc. to build the SpringHill Suites. McMurray also is the builder on Chartwell’s dual-hotel project in Green Hills and the Hampton Inn & Suites that Chartwell is developing within the Capitol View development at 1100 Charlotte Ave.

Site plans show the hotel located at the main entrance into the Northside McEwen development, fronting McEwen Drive and the to-be-extended Aspen Grove Drive. Northside McEwen is spearheaded by the Franklin office of Boyle Investment Co. and North Carolina-based Northwood Ravin.

Chartwell and Boyle have paired up on a number of occasions, including the Capitol View project and also the Franklin Hilton, in which Chartwell bought land from Boyle located between two of Boyle’s office buildings.

Originally Published in the Nashville Business Journal

By Adam Sichko

The team behind the 10-story Hampton Inn & Suites hotel project underway in Capitol View has released a new image of the building and applied for a key permit related to the effort.

Franklin-based Chartwell Hospitality is undertaking the hotel project (pictured) with Columbus, Ohio-based investment firm Rockbridge. The two entities partnered to develop the SoBro-based Hilton Garden Inn located at Third Avenue South and Korean Veterans Boulevard.

Construction of the Hampton (click on the above image to see the previous rendering) began in late 2017, with an opening expected in the summer of 2019.

Memphis-based Bounds & Gillespie Architects is the architect.

The aforementioned permit is for water and sewer work.

Boyle Investment Co. is overseeing the overall development of Capitol View.

The 168-room hotel building will be located at the southeast corner of the intersection of 11th Avenue and LifeWay Plaza and will share Block E of the Capitol View site with Boyle’s under-construction multi-tenant 10-story office building that will house HealthStream’s new corporate headquarters when it opens in early 2019.

Originally Published in the Nashville Post

By Staff Reports

The 9,000-square-foot Carrington Retail Center at Schilling Farms in Collierville, Tennessee, is fully leased. Boyle is pleased to welcome the new Cheffie’s Café, which opened this week, joining Pure Nails & Spa and Burn Boot Camp.  The new Merle Norman opened several months ago in the adjacent 50,000-square-foot mixed-use building.  Boyle property managers Dena Forbes and Angelica Savage, along with leasing agent Jonathan Aur, were on site today visiting the newly opened retail and office tenants.  The Carrington Retail Center, which is adjacent to The Carrington West apartments, is a great amenity for the Schilling Farms residents and office workers, who are now enjoying the ability to walk from their homes or offices to enjoy lunch and dinner, coffee, shopping and exercise classes.

The Commercial Appeal

Bankers in Memphis and Nashville have been natural rivals for decades, but Memphis rarely has seen anything like this bank.

In the three years since they pushed into the Memphis banking market, they have laid out cash to sponsor Memphians’ pride and joy — the Memphis Grizzlies basketball team.

They weathered a lawsuit accusing them of poaching prized employees from First Tennessee Bank.

They just moved into the newest office building in East Memphis, putting up their sign in the heart of the city’s corporate row across the street from FedEx Chairman Fred Smith’s offices.

They just recorded the largest percentage increase in customer deposits of any of the 56 banks running 368 branch offices in Greater Memphis.

Who is “they”?

Pinnacle Financial Partners and, more precisely, Terry Turner.

From zero to No. 2

Graced with a white shock of hair, a traditional blue banker’s suit and a straight forward manner of speaking, Turner strides into the blond-wood hallway of the new Pinnacle office at 949 Shady Grove.

Setting out in 2000 to launch Pinnacle as a community bank in Nashville, Turner rode the Nashville boom, a string of acquisitions and his own aggressive instincts. Pinnacle now ranks as the largest homegrown bank in the state after First Tennessee, the 153-year-old bank based in Memphis.

Turner, whose office is in Nashville in the 29-story tower named Pinnacle at Symphony Place, traveled to Memphis last week to meet with clients. I interviewed him in the Shady Grove office. He talked for an hour about Pinnacle’s growth from essentially nothing to No. 2.

Even though it doesn’t hang ads on the side of buses or boast of its services on television, Pinnacle has quickly established a presence in Memphis since entering the market in 2015.

It has only five branch offices, but given its Grizzlies ties and timely philanthropy such as the $800,000 donation to the Senior Housing Crime Prevention Foundation and $1 million commitment to the loan pool of low-income lender United Housing Inc., the  name is hard to miss. Pinnacle also has done something else.

It’s caught the attention of business executives hunting for commercial loans, the kind used to buy equipment and pay for expansions.

Big Memphis corporations including FedEx and AutoZone are now Pinnacle borrowers by virtue of what are called syndicate loans. Pinnacle teams with New York banks in making loans to large companies. It’s also looking for small and midsize borrowers and preparing to ramp up a medical loan specialty to tap into the city’s large health care industry.

We’re out there asking for the business,” said Kirk Bailey, chairman of Pinnacle’s Memphis operations.

Stepping into Memphis

Pinnacle entered Memphis with the $83 million purchase of a quiet east-side institution named Magna Bank.

Magna was to banking what a barbecue place was in the restaurant world, a specialist rather than a full-menu steakhouse. Magna’s specialty was real estate loans to hotel, store and warehouse developers.

Board members included the well-known Memphis real estate entrepreneurs Harold Crye and Dick Leike. Its top executive was Kirk Bailey.

Just as Alabama banking conglomerate AmSouth acquired First American National Bank of Nashville, AmSouth also bought Leader Federal, a major real estate lender in Memphis.

The deal disgorged Terry Turner from First American, then the largest homegrown bank in Nashville. He was in charge of the retail banking and investment unit. He went on to found Pinnacle. Bailey, an executive vice president at Leader Federal, went out and helped form Magna.

Had Magna been located in fast-growing Nashville it might have become as large as Leader Federal someday. Situated in Memphis, Magna grew but not as fast.

By 2015, Magna loans totaled $460 million. By mid-summer 2017, under the Pinnacle name, the loan volume had doubled to almost $1 billion in the Memphis market, Bailey said, up 45.5 percent from the year before.

What led the growth was the new emphasis instilled by the Nashville bankers. Pinnacle was a full-service bank on the lookout for commercial loans.

In three years, the company added about 50 lenders, investment advisers, trust officers and similar positions responsible for generating profits. This year plans call for hiring 15 more, bringing Pinnacle’s employment level in Memphis to 171 jobs.

Why Pinnacle grew

Seated in a conference room at 949 Shady Grove, Turner listens intently. I ask why Pinnacle grew.

I don’t spell this out, but I wonder why Pinnacle and Magna both opened about the same time and one is now the state’s No. 2 homegrown bank and the other has gone the way of Leader Federal, Morgan Keegan, National Bank of Commerce and Union Planters National Bank — big Memphis financial names that are no more (Union Planters, Morgan Keegan and Leader Federal were wrapped up in Regions Financial, the new name of the old AmSouth, while SunTrust of Atlanta bought NBC).

My thought is Pinnacle grew largely because Nashville grew. If you put cash in a bank, the bankers quickly loan out the money or invest it on the bank’s behalf in stocks and bonds. Bankers call these loans and investments assets (loans are considered an asset because the bank earns profit on the borrower’s interest payments).

Pinnacle’s assets now exceed $22 billion, second among the Tennessee-based banks to First Tennessee’s $29 billion. About half the assets trace to acquisitions of banks folded into Pinnacle. The other half is growth — bringing in deposits and loaning out the money.

Given the Nashville surge, it seemed deposits would flood into Pinnacle as soon as it opened its door. Any competent banker could pile up profitable assets.

After all, banks in Nashville held $57.4 billion last year in customer deposits, up from $18.1 billion in 2000, FDIC reports show. That’s a lot of money to loan out and stash in stocks and bonds considering Memphis banks have gone to $30 billion in total deposits from $18.7 billion in the same period.

Right off I asked Turner whether bank acquisitions or Nashville’s extraordinary rise paved way for Pinnacle’s growth. He said it was both and quickly steered to another reason. More than either, he said, it was customers coming from established banks.

“There’s no doubt Nashville has grown, but we’ve also grown by taking on a significantly bigger piece of market share,” Turner said.

Taking market share

Turner explains how that’s done. What’s clear is Nashville’s banking market and Memphis’ were once much different.

Back when Bailey was at Leader Federal, Memphis’ big hometown banks held about 75 percent of all the bank deposits and made about 75 percent of the loans. Out-of-town banks accounted for the remainder.

Nashville was the opposite. Its big banks were acquired before Memphis’. By the late 1990s these big out-of-town players controlled 75 percent of deposits and loans in Nashville.

Turner said the out-of-town banks were slow to make decisions. And turnover was rife in the big banks. Customers were frustrated by green bankers.

“We felt like service of the large regional banks wasn’t good,” Turner said.

Backed by Nashville entrepreneurs including prominent office developer John Eakins, Turner and a bevy of ex-First American bankers set out to create a bank built around local decision-making and mature professionals.

“There’s almost nothing we need to go to Nashville for to get approved,” said Bailey, whose office can make loans up to $10 million.

Rather than train a new team, Pinnacle hires seasoned bankers, which led to a pair of legal conflicts. First Tennessee filed a lawsuit accusing the bank of staffing its Memphis office with one of its experienced crews of wealth advisers. The case was eventually settled and Pinnacle apologized but the strategy continues. Regions filed a lawsuit accusing former employees in Nashville of violating contracts when they went to Pinnacle.

“Most people bank with the banker, not the bank,” Bailey said. “The Pinnacle model is based on recruiting the key people in a city who have the experience and the customers loyal to them. That’s the best way to get a strong foothold in a city.’’

To attract workers, Pinnacle uses a compensation system unusual in the Leader Federal era. Almost every employee receives 10 percent to 20 percent of their pay in the form of a cash bonus based on the bank’s performance. The key metric is earnings per share. That tracks profits and the stock price.

Today, 35 percent of the employees leave the typical bank every year. Pinnacle’s turnover: 7 percent.

The strategy has paid off. Companies and individuals are moving their deposits to Pinnacle. In Memphis alone, Pinnacle’s deposits swelled to $786 million last year, compared with Magna’s final year of $447 million.

It’s true First Tennessee, Regions and SunTrust remain far larger. But no bank in the city has grown deposits over the last years as fast as Pinnacle.

Ted Evanoff, business columnist of The Commercial Appeal, can be reached at evanoff@commercialappeal.com and (901) 529-2292.

The Athens, Georgia-based parent company of pizza restaurant Your Pie will open in the North Gulch on Friday, Jan. 12, marking the franchise’s initial foray into Nashville.

Of note, the franchisee is an LLC created by Nashville-based SMS Holdings Corp., which is best known for its janitorial and maintenance work with shopping malls, hospitals and downtown partnerships. In addition, the company provides various services to the aviation industry.

Your Pie Capitol View will be SMS’s first venture as a restaurant operator. The restaurant will be located in the first floor of the HCA-owned tower called 1100 Charlotte and located in Capitol View.

The brick-oven pizzeria company had targeted Nashville since early 2014. SMS has an agreement with Your Pie Franchising to open three more locations in the greater Nashville market.

“At Your Pie, we believe that food can be fresh, fast, delicious and experiential,” Founder and President Drew French said in a release. “We want to be the go-to fast casual restaurant where families, friends, colleagues and groups can gather, dine and share memories without having to share pizzas.”

Your Pie bills itself as a “fast casual, brick-oven, customized personal pizza” restaurant. The company website notes its handcrafted pies are created using family recipes derived the Italian island of Ischia, located near Naples.

Founded in 2008, Your Pie has 40 locations in multiple states and an additional 50 locations in development. The Your Pie restaurant located within the closest geographic proximity to Nashville is in Murfreesboro. It is not operated by SMS.

Originally Published in The Nashville Post

By Staff Reports