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TVA Shrinks Quarters; Signs Estimated $12M Lease

ATLANTA-The nation's largest public power company downsizes from 130,000 sf in Nashville's Highland Ridge Tower to 58,400 sf at One Century Place. The 11-year lease is for an estimated aggregate rent of $20 per sf.

By Marita Thomas | Updated on October 03, 2002

ATLANTA-In one of the largest transactions in the metropolitan Nashville CBD this year, Tennessee Valley Authority has downsized by relocating from 130,000 sf in Highland Ridge Tower to 58,400 sf at One Century Place.

TVA’s 11-year lease is for an estimated $20 per sf with an aggregate rent of about $12.85 million, area brokers familiar with the submarket tell GlobeSt.com on condition of anonymity.

Area asking rents for class A office are $17.90 per sf to $21.50 per sf, according to GlobeSt.com research. The lease takes One Century to 100% occupancy.

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