The Daily Memphian

By Tom Bailey

A deep-rooted hometown company has bought four, premier office buildings in East Memphis from an out-of-state firm divesting itself from the city.

Boyle Investment Co. purchased from Highwoods Properties the three Triad Centre buildings at 6000, 6060 and 6070 Poplar, and the International Place II Tower at 6410 Poplar.

The purchase prices were undisclosed and had not been published yet on the Shelby County Register’s website.

Totaling 599,000 square feet, the Class A buildings offer the kind of touches and amenities that command among the highest rental rates in the city. Among them are features including marble or granite flooring, wood-paneled walls, cafes, fitness trails, leafy campuses and covered or garage parking.

The company with operations in both Memphis and Nashville described the transaction as an “affirmation of Boyle’s long-term commitment to Memphis and expands the company’s presence along Poplar Avenue from Interstate 240 to International Drive.”

The purchase of the three Triad Centre buildings also means Boyle Investment now owns the entire block of seven office buildings bounded by Poplar, Ridgeway Loop, Briarcrest and Shady Grove Road. Those buildings alone total about 1 million square feet.

Boyle hired nine Highwoods employees who have been involved in the operation and management of the four properties.

The new properties will fit seamlessly into Boyle’s existing portfolio, company officials said in a prepared statement. The buildings are in the heart of the East Memphis business district where Boyle already owns, leases and manages a large portfolio of commercial real estate.

The 87-year-old Boyle Investment Co. develops office, industrial, retail and residential properties.

About a half-century ago, Boyle built the 204-acre Ridgeway Center office park that now abuts the Triad Centre. Boyle still owns about half of the Ridgeway Center buildings.

“Boyle has been working on this transaction since October 2019,” company president Paul Boyle said in a release. “Although the closing has occurred during the current economic challenges posed by the efforts to slow the spread of COVID-19 virus, we believe the long-term impact will be positive for our community and city as these important assets will remain under local ownership and management.

“These four new buildings are currently occupied by a wide range of businesses, both local and national, and we are excited to welcome these tenants into the Boyle family,” Boyle said.

Northwestern Mutual provided financing for the acquisition.

Raleigh, North Carolina-based Highwoods Properties announced in August that it would sell its properties in Memphis and Greensboro, N.C., and use the money for its purchase in November of the Bank of America Tower in downtown Charlotte, N.C.

Signs erected outside the three Triad buildings list their tenants, including: (Triad I) Glankler Brown law firm, Regus, Vaco, Cook Systems and Apperson Crump; (Triad II) Bank of America/Merrill Lynch, Harkavy Shainberg Kaplan law firm, Fidelity National Title Group, Baker Donelson law firm, Waddell & Reed, and The Winchester Law Firm; (Triad III) Lucite International, CBRE, KPMG, UBS, Wyatt Tarrant & Combs law firm, Evolve Bank & Trust, EY, and Dobbs Management Services.

Highwoods owned 15 Memphis office buildings totaling 1.6 million square feet when it announced it plans to sell them in August.

By the end of 2019, it had sold three of them: International Place IV totaling 248,000 square feet for $76.4 million, and Atrium I and II buildings totaling 84,000 square feet for $13.2 million.

Mark Halperin, EVP/COO, Boyle Investment Company Named to Memphis Business Journal’s Power 100

Mark Halperin has a subtle type of power.  He’s not often in front of the media, but he can get its attention whenever he wants it.  In 2018, Halperin helped land East Memphis a TIF district, despite it reportedly being opposed by some political heavyweights early on.  He was crucial to ServiceMaster’s decision to relocate its headquarters to the former Peabody Place Downtown.  And, in his day-to-day job at Boyle Investment Company, Halperin leads one of the city’s most powerful real estate firms.  When Raymond James decided to leave its Downtown tower, numerous firms came calling with office space.  But, only Halperin’s firm appears to have won that prized tenant. 

NashvilleChamber.com

The Nashville Area Chamber of Commerce announced Friday, August 16, that it will relocate its offices next spring to Capitol View. The new space is being built out specifically for the Chamber and will allow the organization to continue to grow and provide its members with opportunities to network and engage with fellow business leaders.

“As a regional chamber, we felt it was important to be centrally located, and remaining downtown was one of our primary goals as our lease expired,” said Ralph Schulz, president and CEO of the Nashville Area Chamber of Commerce. “We look forward to welcoming and continuing to serve our members at our new space at Capitol View in spring 2020.”

The office will be located in the new office building at Capitol View, 500 11th Ave. North. The Chamber’s space will enable the organization to remain a part of Nashville’s downtown core and continue serving its more than 2,000 member companies.

The Nashville Health Care Council will also move and co-locate with the Chamber, joining a number of companies in Capitol View, including HCA Healthcare, WeWork, HealthStream, Parallon, Sarah Cannon, LifeWay and ProviderTrust. The development also includes the soon-to-be-open Frankie Pierce Park, which serves as a trail head for the Nashville Greenway, linking the district to various biking and walking trails in Davidson County.

“The addition of the Chamber to the district will be a key contributor to the business innovation, collaboration and growth at Capitol View,” said Jeff Haynes, partner at Boyle and developer of Capitol View. “Our vision for Capitol View was to create a true community of Nashville residents, business leaders and organizations. The mission of the Chamber perfectly aligns with our goals and will continue to strengthen the community being built.”

The Nashville Area Chamber of Commerce is Middle Tennessee’s largest regional business association with a purpose of creating economic prosperity by facilitating community leadership. The Chamber’s relocation allows the organization to build a space that meets current and future needs, while continuing to invest in the growth of the region.

With this lease, the Capitol View office at 500 11thAve. North is 75 percent leased. This is significantly ahead of projections, and is a testament to how the market is responding to the years of thoughtful planning and execution of the mixed-use district.

Capitol View is home to numerous restaurants and retailers, including Jón Alan Salon, Clean Juice, drybar, Starbucks, Your Pie, M.L.Rose, SVM Boutique, Sercy + Co., Club Pilates, and Valerie Boutique. Retailers coming soon include Publix, HOTBOX, Rukus Cycling Studio, VICI and Central BBQ.

The Capitol View district is also home to The Residences at Capitol View, a 378-unit, multifamily, luxury residential community, which is more than 90 percent leased.

Nashville Business Journal

The region’s largest chamber of commerce is moving out of the heart of downtown Nashville, and into a new $750 million mixed-use development.

The Nashville Area Chamber of Commerce signed a lease Friday for space at the Capitol View development along Charlotte Avenue. The chamber has been based at the building at 211 Commerce St. since it opened 20 years ago. The chamber shares some of that space with the Nashville Health Care Council, which will follow the chamber to Capitol View.

One of the chamber’s roles is spearheading economic development and business recruiting efforts for Metro — including, for example, orchestrating Nashville’s bid for Amazon that culminated in the retail giant’s late-2018 announcement of a 5,000-job operations hub. The chamber also has been a leading voice advocating for more robust mass transit.

Nashville Post

Entity has been at 211 Commerce in CBD for 20 years

The Nashville Area Chamber of Commerce will relocate next spring to Capitol View in the North Gulch from the central business district.

Chamber officials announced the move Friday morning during an event at its future home at 500 11th Ave. N. About 50 people work for the organization, which has been based in the 11-story building at 211 Commerce St. since 1999. The Nashville Health Care Council, which shares space with the chamber, will also move to the North Gulch building.

The release does not note any other office buildings the chamber might have considered, the cost to undertake the move or terms of the lease.

“As a regional chamber, we felt it was important to be centrally located, and remaining downtown was one of our primary goals as our lease expired,” Ralph Schulz, the chamber’s president and CEO, said in the release.

The 10-story office building in Capitol View already is home to HealthStream, KCI Technologies and WeWork, among others. With the lease, 500 11th Ave. N. is 75 percent leased, the release noted.

The 32-acre Capitol View project, which eventually will offer 1.1 million square of office space, also is home to a Pinnacle Financial Partners and First Advantage Bank offices, LifeWay Christian Resources, M.L.Rose and a Starbucks location, among others. Other retailers lined up include Publix, Central BBQ, Clean Juice and CareNow.

The office component of The Residences at Capitol View (a 378-unit luxury apartment, office and retail building) is fully leased.

Capitol View is a joint venture between Northwestern Mutual, Boyle Investment Co. and Northwood Ravin.

Jeff Haynes, a Boyle partner, said the addition of the chamber will be a “key contributor to the business innovation, collaboration and growth” at Capitol View.

Nashville Post

Health tech company will join HCA, HealthStream, Parallon

Nashville-based health care tech company Bridge Connector is relocating its downtown headquarters to mixed-use district Capitol View to accommodate its expanding team.

StyleBlueprint

Just north of the bustling Gulch neighborhood sits a 32-acre development called Capitol View. The first of its kind in Nashville, the “multi-use urban district” is home to retail stores, restaurants, fitness studios, apartments and more. The joint venture of Northwestern Mutual, Boyle Investment Company and Northwood Ravin was established in 2017 and also includes the corporate offices of HCA and LifeWay. The development brings a unique, walkable mini-neighborhood to the heart of downtown, offering string light-lined streets and healthy local eats, as well as larger national brands that specifically selected this area to open their doors in Nashville.

One of the familiar friendly faces you’ll find in Capitol View? Nashville’s beloved M.L. Rose. The craft beer and burger joint was one of the very first to open in Capitol View in 2017. Owner Austin Ray explains that it’s not the first time that he and his team have chosen to open in a not-yet-established neighborhood. They went in early to both the Melrose and Charlotte Avenue locations and with purpose. He tells us, “It’s been one of the most rewarding things as a neighborhood pub owner watching neighborhoods grow around a location.”

Austin was searching for a third M.L. Rose location, and once he learned about the development, he knew he’d found it. Capitol View is readily accessible to so many of Nashville’s hottest areas — near Bicentennial Mall and Germantown, right on the border of downtown, connecting with the Gulch via not just 11th Avenue but also the Gulch Greenway, and then you have Marathon Music Works just around the corner. Austin tells us, “The connectivity was unprecedented.” That’s likely why you will see so many local and non-local businesses establishing first, second or, in this case, third locations in the development. Well, that and the parking. Marla Skipper of SVM Boutique puts the thoughts of all residents into words: “The perks of free parking are unmatched!”

Sercy + Co. opened its first location in Capitol View earlier this year, filling their shop with beautiful, thoughtful gifts from candles, candies and books to cards, glassware and journals. The idea stemmed from the Southern tradition of “sercies,” or little just-because gifts meant to make you smile. The bright store invites browsing and shopping for a special surprise, and we recommend chatting with the fabulous team who can guide you through the stories of each item they carry.

New to Nashville, VICI, a popular women’s clothing store, will open its first location outside of California at Capitol View. They have a giant online presence but just two brick and mortar stores in California. They have a very loyal customer base in the Nashville area, though, so they began the search for a storefront here. Like Austin, they were struck by the walkability and accessible location of Capitol View and decided they’d found the place. Their VP of Buying and Marketing, Aimee Dudum Colorado, tells us, “Capitol View will be the perfect home for VICI, centrally located and next to all the errands and appointments a VICI girl does on the daily!”

Mark Traylor, a partner of Capitol View, explains the mission behind their development. “Our vision for Capitol View is to provide Nashville with the first all-encompassing district where you can shop, eat, work and live without leaving the neighborhood. Capitol View has been intentionally built to foster community, and we’re proud that so many retailers, restaurants and businesses have chosen to open their doors here.”

A community is forming, and we hear that straight from the source. Austin of M.L. Rose laughs, “If you have the beer place, you end up getting to know everyone.” It just so happens that M.L. Rose’s bar has been a gathering place for not just the residents of Capitol View, but also the new retailers, restaurateurs and other business people in the community. Their outdoor-facing bar is usually seated with a mix of people, all interacting with one another, both at the bar and in Capitol View. Below, find out what’s open, what’s coming and what else you can expect for the future of Capitol View.

NOW OPEN

Food & Drink:

• Clean Juice: This place is so much more than juice and smoothies! They have açaí bowls, toasts, grain bowls and salads. We’re fans of the protein toast, topped with avocado and hard-boiled egg. The menu is organic and clean, and the interior is too.
• M.L. Rose: It’s a Nashville favorite for a reason. Visit on Wednesday nights at 6 p.m. for trivia, and enjoy their wide selection of both craft brews and craft burgers. (SB TIP: It’s one of Nashville’s least-known patios … for now!)
• Starbucks: For a necessary pre-workout dose of caffeine
• Your Pie: Don’t let the chain vibe deceive you! This build-your-own pizza place is fresh and addictive. They have whole wheat and gluten-free crusts as well as reasonable prices.

Fashion & Shopping:

• Sercy+Co: This charming store is stocked with Southern gifts and goods. Duck in to browse or find a goodie for a birthday or “just because” gift.
• SVM: The shelves of SVM hold chic, on-trend clothing at affordable prices. Their fabulous team will style you for a night out or help you find the perfect pair of jeans.
• Valerie: This Tennessee women’s boutique got its start in Cool Springs and chose Capitol View as its second location. Find trendy clothing, fun t-shirts and other accessories.

Health & Beauty:

• Club Pilates: Club Pilates also chose to open in Capitol View due to its convenient location (and ample parking!). Try one of their many class options from early morning to evening, seven days a week.
• drybar: drybar brings its famous “blow dry only” salon concept to Nashville. Whether a visiting bachelorette party headed to Broadway or a local attending a Saturday event, drybar is your resource in Capitol View.
• Jón Alan Aveda Salon: This high-end salon offers hair cuts, colors and treatments, spa treatments and more.

Coming Soon …

• Central BBQ
• HOTBOX Fitness
• MassageLuXe
• Publix
• Rukus Cycling Studio
• VICI
• WeWork

… and more! Stay tuned.

The Memphis Business Journal

By Jacob Steimer

Boyle Investment Co. is preparing Schilling Farms for more office buildings, retail bays, and, potentially, apartments.

The 443-acre Collierville community has had a dearth of shovel-ready office lots since Boyle sold a 3.4-acre site to Mueller Industries in 2017, Boyle’s Les Binkley said. This drove the firm to start grading 54 undeveloped acres in the northwest corner of the community this summer, with hopes it could eventually hold three office buildings.

“There is activity in the [Memphis office] market we want to be able to capitalize on,” Binkley said.

The concept site plan for the 54 acres, which Boyle submitted to the Town of Collierville earlier this year, shows four retail buildings and a large apartment complex alongside the three office buildings.

Binkley did not give a timeline for the project but said his firm will likely start the expansion by building a pair of 10,000-square-foot retail buildings near the corner of Schilling Boulevard West and Poplar Avenue. The office buildings would start being developed as soon as each one is substantially leased.

The apartment complex will be built “eventually” but isn’t in the firm’s immediate plans, Binkley said. His company decided to go ahead and grade the entire 54 acres, though, since it will be easier than doing it piecemeal.

Nashville Business Journal

Real estate developers have teed up at least seven mixed-use projects in the pipeline on the east side of I-65, in the Cool Springs commercial hub.

But for right now, you’ll find most of the construction equipment on the other side of the highway — bringing to life a 45-acre property that’s been a target for development for at least the past dozen years.

The first buildings in the $270 million McEwen Northside project debut later this year. It’s a landmark checkpoint for developers Boyle Investment Co. and Northwood Ravin, as well as their financier, a wing of Northwestern Mutual Life Insurance Co.

The site on McEwen Drive, across from a Whole Foods and a Bricktop’s restaurant, cycled through a number of owners and potential developers over those years. Thomas McDaniel, who oversees Boyle’s Middle Tennessee office portfolio, said on a site tour this month that the project’s mix of office, retail and apartments plays off work Boyle has been doing in this part of the market since at least the mid-2000s, when the company created the Meridian mixed-use development on the other side of I-65.

“We believe this is tailor-made for us,” McDaniel said.

Tenants announced so far include Williamson Inc., Club Pilates, Tiff’s Treats, Prose nail boutique — and Perry’s Steakhouse & Grille. McDaniel said the fact that the Houston-based chain is choosing Cool Springs for its first Middle Tennessee location validates the vision behind McEwen Northside.

“On the amenity side, [Cool Springs] is really just national chains. It’s not walkable. There’s no ‘district.’ We’re trying to counteract all that,” McDaniel said.

Click on the slideshow with this story to nose in on the progress Bell & Associates Construction is making.