Accenture, Radish Kitchen, Row House & Woodland Wine Merchant Now Open in Third & Urban, FCP’s Nashville Adaptive Reuse Project
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Sylvan Supply, the adaptive rehabilitation of the 60-year-old Madison Mill in Nashville, Tenn. by FCP and Third & Urban into contemporary large-format office space, open, airy public places and unique destination retail, is now open.
Accenture welcomed employees to its new Nashville office this month. Joining the global professional services company are Radish Kitchen, the fast-casual health food concept by Amanda Frederickson, fitness studio Row House and Woodland Wine Merchant, marking the soft opening of one of the most anticipated historic renovation projects in the Music City.
In 2018, FCP and Third & Urban rescued the industrial mill in Sylvan Park on Charlotte Avenue from the wrecking ball. The design by Centric Architecture and landscape architect Hodgson Douglas uses outdoor corridors and terraces with greenspace to connect the eight buildings and to foster a collaborative and active environment. The project has 162,000 square feet of class-A creative office space, as well as over 32,000 square feet of curated dining, boutique fitness and other retail spaces.
“With our mix of large, open offices, open spaces and outdoor seating, we are excited to introduce Nashville to this unique and incredible space,” said Third & Urban Partner Chris Faussemagne. “Sylvan Supply has direct access into corporate offices and open-air corridors and outdoor terraces, which reduces risk for both our retail and office tenants and their patrons and guests.”
“Sylvan Supply has fulfilled our vision to deliver an institutional quality adaptive reuse project with modern, creative office spaces and vibrant retail that also creates new energy for Nashville’s Charlotte Avenue Corridor,” said FCP Vice President for Commercial Asset Management, Sarah Hubbard. “Sylvan Supply has demonstrated great appeal to office and retail tenants seeking more direct access to the outdoors in response to the pandemic.”
Before COVID-19 changed the way people work and interact, Third & Urban and FCP imagined Sylvan Supply as a healthier lifestyle, mixed-use community. Offices and retail space in the high-ceiling adaptive reuse project have individual air systems. With direct access to offices, businesses are not reliant on central lobbies or elevators.
Keller Williams Realty Nashville has signed a lease for 14,560 square feet of office space, and software developer and tech consultancy firm FortyAU will welcome its workforce in the fall.
Otaku Ramen is opening a pop-up location in Sylvan Supply, and Bearded Iris Brewing, a beloved local brewery with a loyal following, will open in the fall. Pure Barre, the low impact/high intensity workout phenomenon, is opening a 1,500 square foot studio.
“These are unprecedented times, and with our adaptive reuse projects across the southeast, we have a better model for the modern office — one that purposefully emphasizes health and wellness with open spaces and lifestyle brands that appeal to the current and future workforce,” said Faussemagne.
Originally a mill where high-quality wood products were created, Sylvan Supply reflects the history and heritage of the property while serving as the gateway between Sylvan Park and Sylvan Heights. It is centrally located on the west side, offering easy access to Belle Meade, Green Hills, The Nations, Midtown and Downtown.
“This project proves you can build an attractive adaptive reuse project on such an important corridor which activates, enhances and responds to Sylvan Park’s future and growing needs but will continue to honor its past,” said Kathleen Murphy, Nashville City Council member. “It’s exciting to see this project done so well.”
Bill Adair and Ashley Albright Marshall of JLL represent the office leasing while Elliott Kyle continues to oversee retail.
Patterson Real Estate Advisory Group assisted the partnership on a loan refinancing with U.S. Bank that closed last month.
About Third & Urban
Third & Urban are Developers Building Community—modern, culture-rich adaptive reuse and urban infill that anchors people not just city blocks; that retains context, history and experience, not just tenants; and that creates culture and connection, not just ROI. The Atlanta-based company is focused in the southeastern United States, engaging in a deliberate value creation process to produce truly unique destinations and best-in-class results for office, retail and residential spaces. The firm seeks opportunities in markets that exhibit a high quality of life, a strong workforce and consistent job growth. With more than 2,000,000 square feet across five markets in the Southeast, Third & Urban has developed more than $550,000,000 in institutional-grade urban projects. For more information, please visit www.thirdandurban.com.
About FCP
FCP® is a privately held real estate investment company that has invested in or financed more than $6 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and mezzanine investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.
