UBS renews lease for UBS Shorenstein Tower in Nashville
UBS Tower is a 600,000 square foot 29 story property located in the city center Nashville. The property offers stunning views of downtown or the Cumberland River from every office. The building is in the epicenter of Nashville entertainment and culture centers, with over 100 restaurants and a variety of fitness studios, clothing stores, salons, museums, art galleries, hotels, food markets and historic entertainment venues surrounding the property.
“We are very happy to continue our partnership with UBS,” said Claude esposito, Vice President, Investments Group at Shorenstein. “UBS’s long-term commitment is testament to the quality of this asset, which will be further enhanced by our ongoing renovation project, including the modernization of the lobby and plaza as well as the addition of several interesting amenities. We look forward to completing this renovation for the benefit of UBS and all of our current and future tenants. ”
“Over the past decade, our expansion Nashville has played a fundamental role in our overall growth strategy in the Americas, ”said Wanda lyle, Chairman of UBS Business Solutions US LLC. “We are happy to be able to make UBS Tower our home for another ten years, providing a positive workspace for our employees and an opportunity for us to continue to be an active member of the local community.
Shorenstein acquired the property in March 2019 of its Twelve Fund and is in the midst of a robust renovation plan that will modernize the ground floor experience and add attractive new amenities to the building, including a new fitness center, conference center and a lounge for tenants. The lobby will have a contemporary professional design, with a new security desk, new turnstiles and security furniture, and improved lighting. Construction of the lobby is expected to be completed in the third quarter of 2021. Shorenstein is also updating the exterior of the building at the entrance to Deaderick Street with a new canopy, columns and landscaping, and in Fourth and Union Square. , there will be new seating and improved landscaping.
Robby davis of Cushman & Wakefield represented Shorenstein in lease negotiations. Patrick murphy of Cushman & Wakefield represented UBS.
About Shorenstein Properties LLC
Founded in 1924, Shorenstein Properties LLC is a privately held real estate company that owns and operates high quality office, residential and mixed-use buildings across the United States, with offices in San Francisco and new York. Since 1992, Shorenstein has sponsored twelve closed-end investment funds with total equity commitments of $ 8.8 billion, of which Shorenstein committed $ 723.5 million. The company uses its integrated investment and operating capabilities to take advantage of the opportunities that, at any given point in the investment cycle, offer the most attractive returns. Investments included basic developments, repositioning of assets and stabilized assets; investment structures include asset acquisitions, mezzanine loans, preferred stock investments and structured joint ventures. These funds have invested in properties totaling 67 million square feet in transactions with a gross investment value greater than $ 16 billion. More information is available at www.shorenstein.com.
UBS provides financial advice and solutions to high net worth, institutional and corporate clients around the world, as well as to private clients of Switzerland. UBS’s strategy is centered on our leading global wealth management business and our leading universal bank in Switzerland, reinforced by Asset Management and Investment Banking. The bank focuses on companies that have a strong competitive position in their target markets, are capital efficient and have attractive long-term structural growth or profitability prospects.
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212.355.4449 / 415.869.3950
SOURCE Shorenstein Properties LLC