GlobeSt.com UPDATE: Louisiana-Pacific Chooses Nashville

PORTLAND-Louisiana-Pacific Corp. said Tuesday it is moving its headquarters to Tennessee but won’t be taking all its employees with it.

Founded here 30 years ago, the wood products company keeps its headquarters in the 26-story Fox Tower, the city’s newest Downtown office building, where it leases six-and-a-half floors and employs about 160 people. As part of a major restructuring, the company said in July it was considering a move to one of three southern cities in order to bring its corporate headquarters closer to the company’s mills and customers. It said Tuesday that Nashiville would be its new home. Charlotte, NC and Richmond, VA were its other two options.

L-P tells GlobeSt.com it will vacate over the next 12 to 15 months four of the six-and-a-half floors it has committed to lease in Fox Tower through 2011 for an average rate that local brokers tell GlobeSt.com is in the low-to-mid-$20s per sf per year.