Market Overview

Mixed-Use Project Gulch Union Breaks Ground, Construction Starts With 20-Story Class-AA Office Building

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After closing on the 2.75-acre property on August 1st,
work on 1222 Demonbreun, the fully financed first phase of Gulch Union,
has begun and is on pace for June 2020 completion

Endeavor
Real Estate Group
and its joint venture partner Granite
Properties
has begun construction of Gulch
Union
, the transformative three-phase mixed-use development in the
booming urban core neighborhood of Nashville known as The Gulch. The
start of construction comes on the heels of the developers closing
August 1st on a full 2.75-acre city block for the project.

"The Turner Family has done a phenomenal job creating The Gulch, which
has evolved into a world-class urban mixed-use neighborhood," says Jamil
Alam, Managing Principal of Endeavor. "With Gulch Union we intend to
expand and improve upon the tremendous momentum within the amenity rich,
sustainable, and walkable Gulch neighborhood."

"Granite Properties is excited to partner with Endeavor to begin the
first phase of developing Gulch Union in the dynamic neighborhood The
Gulch in Nashville," added John Robbins, Senior Managing Director of
Granite Properties. "We look forward to working together and delivering
a distinctive and elegant building that's hospitality-driven with modern
workspaces and building-wide programs that are productivity-enhancing,
sustainable and foster a vibrant community."

Gulch Union's first phase is construction of 1222 Demonbreun, a
striking 20-story, 330,000 SF Class-AA office building, including 6,000
SF of retail, that will cater to the modern workforce with high-end
amenities and walkable city conveniences. Encompassing a full city
block, between 12th & 13th Avenues and McGavock & Demonbreun Streets,
Gulch Union will serve to unite The Gulch with Broadway and Music Row.

"1222 Demonbreun will offer a Class-AA office alternative that is
walkable to all the entertainment options in downtown while delivering
tremendous views and visibility and allowing for quick access to and
from the key traffic arterials," added Alam.

Endeavor and Granite are developing the 1222 Demonbreun office project
on a speculative basis, and the office building will be ready for
tenants to start tenant improvements February 2020 for June 2020
occupancy. The project's initial construction schedule is highlighted by
the following milestones:

  • August 2018: demolition of existing buildings
  • September 2018: excavation of site
  • December 2018: start of vertical construction
  • February 2020: tenant improvements
  • June 2020: tenant occupancy

Turner
Construction Company
is acting as general contractor. The office
building is financed by International
Bank of Commerce
(NASDAQ:IBOC). The office project's leasing is led
by the Nashville office of Cushman
& Wakefield
and brokers Crews Johnston, Jenna Muller and Robby
Davis.

Future phases will include retail, luxury residential, and a boutique
hotel.

The office building is designed by world-class architect HKS,
Inc.
out of Dallas, TX. It will feature amenities that include a
fitness center with lockers and showers, a 48-seat training room, an
indoor/outdoor sky lounge with dramatic downtown views, a catering
kitchen, destination dispatch elevators, a micro-market serving fresh
snacks and meals, on-site property management, and 24/7 security.

The Gulch is Nashville's only LEED ND Neighborhood and the office
building is pursuing LEED Silver. Typical office floors will be
approximately 30,000 RSF with minimal columns, 9'6" to 10'10" ceiling
heights, and full height glass to allow for abundant natural light
within the tenant's space.

Continued updates on the project can be found at its social media pages:
Twitter @GulchUnion,
Instagram @gulchunion
and Facebook @gulchunion.

For more information on the project website visit http://www.gulchunion.com.
Renderings are available at
this link
.

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